bussines news

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 »

The Ethiopian Embassy in Beijing hosted the Ethiopia-China Business Forum yesterday. During the forum, Ambassador Dewano Kedir, Deputy Head of the Mission at the embassy, delivered a keynote speech highlighting Ethiopia’s investment and trade opportunities. Since the beginning of the China-Africa Partnership in 2000, China has been a leading source of foreign direct investment and …

Chinese Investors Asked To Contribute To Enhancing Ethiopia-China Economic Cooperation Read More »

The Ethiopian Coffee and Tea Authority disclosed that 7.5 million USD has been earned from the export of 8,400 tons of spices during the last 11 months of the current Ethiopian fiscal year. In addition to coffee, the authority has given attention to enhancing the production and marketing of spices and tea to boost foreign …

Over 7 Million USD Earned from Spices Export in 11 Months of Current Fiscal Year  Read More »

Ethiopia and Italy have signed a 4.7 million euro grant agreement today to strengthen sexual gender-based violence and mental health psychosocial support services. The implementing agreement is entitled “Strengthening of the SGBV (Sexual Gender Based Violence) and MHPSS (Mental Health Psychosocial Support) services in Ethiopia.” It aims to strengthen the local system in the provision …

Ethiopia, Italy Sign 4.7 Million Euros Grant Agreement Read More »

The VAT-exempt items have been reduced following a directive signed by Finance Minister Ahmed Shide last week. The revised list now includes cereals, agricultural inputs, and capital goods. Notably, animal feed, edible oil, travel agent services, prints for publication, import of fuel gas, and pension funds are now included in the taxable base. The forthcoming …

VAT Overhaul Targets Broader Revenue Base Read More »

In a remarkable showcase of African entrepreneurial talent, the Africa’s Business Heroes (ABH) Prize Competition recently hosted 40 outstanding entrepreneurs from across the continent at Alibaba’s headquarters in Hangzhou, China. The ABH Prize Competition, a philanthropic initiative sponsored by the Jack Ma Foundation and Alibaba Philanthropy, is dedicated to supporting and highlighting African entrepreneurs creating …

ABH offers an opportunity to 40 African Entrepreneurs to explore innovations in China Read More »

According to the latest World Investment Report published by the United Nations Conference on Trade and Development (UNCTAD) last week, Ethiopia has emerged as the leading destination for foreign direct investment (FDI) in East Africa. In the vibrant landscape of East Africa, Ethiopia stands tall as a beacon of economic progress. In 2023, it secured …

Ethiopia Emerges As Leading Destination For Foreign Direct Investment In East Africa Read More »