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In an attempt to capitalize on the enormous potential benefits of trade on the continent, Ethiopia is now creating its National African Continental Free Trade Area (AfCFTA) Implementation Strategy. The AfCFTA, adopted in 2018, represents a historic effort to unite 55 African Union member states with a combined GDP of nearly 3 trillion USD. This …

Ethiopia Developing African Continental Free Trade Area Implementation Strategy Read More »

The draft proclamation establishing the National Bank of Ethiopia (NBE) has reinstated the direct advance limit that the federal government can take from the bank. It has also set a time limit for the executives and board members serving in the central bank. The proposed bill would also grant the NBE sole responsibility for overseeing …

Central Bank’s powers reinforced in the draft reform bill, including sole authority over franco-valuta imports Read More »

Ethiopia is becoming a key destination for the development of French companies on the African continent, Chairman of the French Ethiopian Chamber of Commerce and Industry — a French business support network, Poujade said. Addressing the event celebrating the induction of the former French Business Association in Ethiopia (CAFE) into the esteemed CCI France International …

Ethiopia Becoming Key Destination for French Companies in Africa: French Ethiopian Chamber Chair Read More »

Ethiopia and South Sudan are set to build a 220 km road connecting the two countries, following a 738 million USD financial agreement signed in May 2023. South Sudan’s Transitional National Legislative Assembly (TNLA) ratified the Ethiopia-South Sudan financial agreement to build a cross-border highway on June 25. The project aims to enhance connectivity and …

Ethiopia, South Sudan to Build 220 km Cross-border Highway Read More »

Livestock Development Institute of Ethiopia saved Birr 1.5 billion in import costs over the past 11 months by producing artificial insemination (AI) locally. This year, the Institute achieved its target of producing 2.2 million doses of AI products. The Institute’s focus extends beyond AI. It identifies and registers high-yield dairy cows to enhance milk production. …

Ethiopia’s Livestock Industry Produces 2.2 Million Doses of AI Read More »

Ethiopian Coffee and Tea Authority (ECTA) announced that spice exports generated USD 7.5 million from 8,400 tons sold over the past 11 months. This reflects a 2,000-ton increase compared to the same period last year. ECTA’s Director General Adugna Debela highlighted Ethiopia’s diverse spice production, over 50 varieties with 16 currently exported to 39 countries. …

Ethiopia’s Spice Exports Increase Read More »

Chinese commercial vehicle giant Foton Motor is setting its sights on Ethiopia’s growing economy. The company announced plans to introduce more commercial trucks and electric vehicles (EVs) to the country, further solidifying its presence in the African market. Foton recently delivered 100 heavy trucks to the Ethiopian East Africa Holding Company. “Ethiopia’s thriving economy requires …

Foton Motor Gears Up for Ethiopian Market Expansion Read More »

 A delegation led by Deputy Commissioner of Ethiopian Investment Commission (EIC), Zeleke Temesgen, participates in the Common Market for Eastern and Southern Africa (COMESA) Investment Forum in Tunis, Tunisia. This year’s Forum is being held from the 25th to the 28th of June under the theme “Investment Promotion Activities and Investment Identification.” The Forum focuses on enhancing …

Ethiopian Delegation Attends COMESA Investment Forum In Tunis Read More »

The particular analysis of how to address the accumulated debt of certain state-owned enterprises (SOEs) has raised concerns at the Office of the Federal Auditor General (OFAG). The Auditor General of OFAG, Meseret Damte, appeared before parliament earlier this week to present the audit findings for the 2022/23 budget year. Based on the performance audit …

Auditor General raises concerns over debt transfer process for state-owned enterprises Read More »

Athens International Airport (AIA) has announced a strategic partnership with Ethiopian Airlines to enhance connectivity with Sub-Saharan Africa. This collaboration opens Greece to a market of more than 120 million people, with Ioanna Papadopoulou, Director of Communications and Marketing at AIA, lauding Ethiopian Airlines as a “valuable partner” during the presentation of the new alliance …

Athens International Airport Announces Partnership With Ethiopian Airlines Read More »