Latest Ethiopian News - Business News

Ethiopian Airlines Refits Boeing 767-300Rs

Ethiopian-767-300ERsAugust 15, 2017 - The Ethiopian flag carrier, Ethiopian Airlines Group, refurbished its Boeing 767-300ERs with new seating and in-flight entertainment systems. Ethiopian Airlines has six 767-300ERs, which it uses on Indian, Middle Eastern and African routes. The aircrafts have been fitted with new flat-bed seats in a 2-2-2 configuration in its Cloud Nine business cabin, high-resolution 17-inch screens and in-seat power outlets, together with improved lighting.

Passengers in the main cabin will have new seats and multiple channels of inflight audio and video entertainment accessible with their personal electronic devices.The improvements were ess

Ethiopia’s Textile and Garment Exports Remain Disappointing

Textile-exports-dissappointingAugust 13, 2017 - Ethiopia's textile and Garment sector export revenue during the Ethiopian Fiscal Year 2016/17 that ended on July 8 only achieved a third of planned revenue. Ethiopia earned 89.3 million US dollars out of a planned 271 million US dollars during the previous Ethiopian fiscal Year. Despite this performance, Ethiopia has plans to become the top textile manufacturing country in Africa. 

According to Assefa Tesfaye, Corporate Communications Director at Ethiopia Ministry of Industry (MoI) , insufficient supply of manufacturing inputs, delay in commissioning of several industries contri

Ethiopia’s Manufacturing Sector Performs Below Expectations

Ethiopian-Manufacturing-disappointsAugust 9, 2017 - The Ethiopian Ministry of Industry announced that it has been able to achieve only 47.8percent of its plan to earn 913.66 million U.S. dollars from the manufacturing sector in the last Ethiopian Fiscal Year (EFY) 2016/17. As part of its economical structure transformation, the government of Ethiopia has given a due emphasis to the manufacturing sector. However, the sector has continued to be a big source of disappointment to the Ethiopian government, according to the report.      

Despite  a lot of buzzes that Ethiopia will become the manufacturing hub of Africa, A

Dangote Cement Suspends Operations

Dangote-cement-ceases-operationAugust 5, 2017 - Dangote Cement, Ethiopia's largest cement manufacturing factory, has suspended some operations after its manpower supplying agency’s business license was revoked by the Oromia Regional State, according to the Reporter.

Dangote Cement factory mining and packaging operations suspended work and stopped supplying cement to its customer as of yesterday. A local employment firm called EZE Engineering has a three year contract to deploy workforce and manage mining and cement packaging operations. EZE has deployed 400 employees and has been managing certain operations in the packaging and mining operations.


Addis Ababa to Host Finnovation Africa Event

FinnovationAugust 2, 2017 - The Ethiopian capital, Addis Ababa, will host the finnovation Africa Event, which is scheduled to be held on November 3, 2017. The event aims at connecting startup entrepreneurs with investors and banks.

The event aims to address most pressing questions for the progress of fintech and the positive and profitable transformation of banking in Ethiopia and in Africa at large, providing a platform for stakeholders to engage in creating the future of financial services on the continent.

Speakers at the event include Barclays Africa group chief creation officer Yasaman Hadjibashi, Omidyar Network investments principal Ameya Upadhyay and Ne

Dangote Reports Highest Sales in Ethiopia; Senegal Second

Dangote-reports-highest-cement-salesAugust 1, 2017 - Despite disagreements with Ethiopian government officials, Dangote group reported that Ethiopia has emerged as the leading African nation in terms of consuming its cement products.  According to unaudited results of the company, for the period spanning January to June 2017, Ethiopia took in a total of 1.1 million metric tons of Dangote Cement, with the second African country being Senegal where 0.6 million metric tons of the product was sold.

Dangote’s cement plant in Ethiopia is one of the newest cement manufacturing plants in Ethiopia.  However, the Nigerian ce

Ethiopian Airlines Adds Bahrain to Its Line

Ethiopian-adds-BahrainJuly 29, 2017 - Ethiopian Airlines announced its plan of commencing flights to Bahrain by Mid August. “With the flourishing trade relations between Ethiopia and the Gulf countries, availability of efficient air transport services will surely play great roles in ensuring easy movement of people and import/export items,” said Tewolde GebreMariam, the Ethiopian CEO.

Tewolde further explained that the Ethiopian presence in Bahrain dates back to the 1970’s, and are now the airlines is back with scheduled thrice weekly flights. Currently, Ethiopian flies to major cities in the Middle East, including: Beirut, Dammam, Doha, Jeddah, K

Ethiopia Earns 104M USD from Dairy, Meat Exports

Ethiopia-meat-exportsJuly 26, 2017 - Ethiopia earned 104 million dollars from meat, honey, wax, fodder products, and milk and dairy exports during the recently ended fiscal year, the Ethiopian Meat & Dairy Industry Development Institute reported. During the year, the total export amount was 20,525 ton of meat and dairy products. In 2016, Ethiopia had exported a total of 19,892 ton of meat and dairy products and generated 102 million dollars.

Ethiopia is known for its huge amount of cattle resources in the world, having 57 million cattle, 29.33 million sheep, 29.11 million goats, 1.16 million camels, and 56.87 million chickens.

Currently, in

Ethiopia Sets $US30 Billion Textile Export Target for 2030

Ethiopia-Sets-Lofty-textile-targetJuly 25, 2017 - Ethiopia has set a target of $US30bn in export earnings by 2030 for the country's fledging textile and garment sector. The Ethiopian Ministry of Industry made the remarks during a workshop to promote the Ethiopian textile industry.

Ethiopia has nearly 175 textile units, however, the country is in the throes of developing several major textile parks. Indeed, Ethiopia attracted investments of US$1.2 billion in the first six months of the current Ethiopian budget year despite being under a state of emergency. Among the investment, money poured in from ten leading Chinese companies, half wh

Ethiopian Airlines Taking Over Nigerian Market

Ethiopian-Winning-Nigeria-MarketJuly 21, 2017 - Ethiopian Airlines is winning the hearts of Nigerian passengers, according to business daily.  Ethiopian Airline’s relatively cheaper fares, easy connectivity and, most recently, concerted efforts by the airline at becoming a one-stop-shop for tourists in Africa are the reasons for it's success in Nigeria.

According to Business Daily’s investigations, an economy class return ticket to Dubai on Ethiopian Airlines, costs N161,408, while same goes for N260,534 on Emirates Airlines. Furthermore, an economy class return ticket to London by connecting flight on Ethiopian Airlines, costs N159,840 it goes

Ethiopia’s Coffee Export Registers 20Pc Growth

Coffee-export-grows-20pcJuly 18, 2017 - One of Africa's largest coffee producers, Ethiopia announced a 20pct boost in its coffee export during the past three months. The Ethiopian Coffee and Tea Development and Marketing Authority hailed the performance as "a very great achievement" compared to the previous years' performance, in which the quantity of coffee product exported has grown up by 11.5 percent while the income generated from coffee export has increased by 20 percent.

Germany, Saudi Arabia, the United States, Belgium, Sudan and South Korea are amongst of the top importers of the Ethiopia.

The authority has introduced va

Ethiopia Constructing Its First Ever Pharmaceutical Industrial Park

Pharmaceutical-ParkJuly 15, 2017 - Ethiopia’s first ever pharmaceutical industrial park is expected to be completed in eight months of time. The park, which is under construction around Kilenito area, is the outcome of Ethiopia’s pharmaceutical manufacturing development strategy.
Up on its completion, the park would cut the sharply growing Ethiopia’s medicine import expenditure, Ethiopian Pharmaceutical Fund and Supply Agency Public Relations Head Adinna Berie expressed her conviction.

"The park will prove the market potential for investors that could join it and attract foreign currency to the cou

Ethiopia Plans to Double Its Industrial Parks by 2018

Ethiopian-Industry-Park-double-2018July 14, 2017 - The number of industrial parks in Ethiopia will grow to 15 by June 2018, said Arkebe Oqubay, Board Chairperson of Ethiopian Industrial Park Corporation (EIPC). Ethiopia's aim in building more industrial parks is to enable the manufacturing sector to contribute to 20 percent of Ethiopia's GDP and 50 percent of the export volume by 2025.

As part of its efforts to boost manufacturing and export, Ethiopia has already commissioned seven industrial parks with Mekelle and Kombolcha being the latest additions commissioned earlier this month.

Mekelle and Kombolcha industrial parks were both built by Chi

Ethiopia to Inaugurate Two Industrial Parks in September

Two-Industry-Parks-in-SeptemberJuly 11, 2017 - In a bid to materialize its vision of becoming Africa’s light manufacturing hub, Ethiopia will inaugurate two additional Industrial parks in September 2017, Tadesse Haile, state minister of economic affairs at the office of the Ethiopian Prime Minister Hailemariam Desalegn, disclosed.

The two industrial parks are the Dire Dawa Industrial park 446 kilometers east of Ethiopia's capital city Addis Ababa and the Adama Industrial Park 99 km east of Addis Ababa.

Dire Dawa Industrial Park and Adama Industrial parks are both being built by China Civil Engineering Construction Company

Ethiopia Inaugurates Two Industrial Parks in Two Days

Kombolcha-Industry-ParkJuly 8, 2017 - Ethiopia, the East African nation striving to be the hub of light manufacturing by 2025, inaugurated a new industrial park in Kombolcha town, a town 367km north-east of Addis Ababa. At the inauguration ceremony, Ethiopian Prime minster Hailemariam Desalegn stated that the culmination of the first phase of the industrial park will have an immense role for Ethiopia’s economy, industrial growth and job creation efforts.     

The park, which was built at a cost of 90 million US dollars in Amhara regional state, is located less than 480kms from Port Djibouti.

The industrial park has alread

Ethiopia’s Oil Giant Celebrates Completion of New Headquarters

National-Oil-Company-Opens-New-HQJuly 8, 2017 - National Oil Company (NOC), one of the key players in Ethiopia’s oil market, celebrated the completion of its landmark 20 story building in Addis Ababa. The new building is one of the tallest buildings in Ethiopia.

NOC prides itself for being the leading company in import and distribution of petroleum products to a wide range of customers in the different economic sectors of Ethiopia. Since its inception about 10 years ago, NOC has captured a confirmed overall market share of 37% with 155 service stations and broad base of corporate consumers across Ethiopia. 

Celebrating the structural compl

Ethiopian to Start Thrice Weekly Service to Kaduna, Nigeria

Ethiopian-start-service-KadunaJuly 7, 2017 - Tewolde GebreMariam, CEO of Ethiopian Airlines, announced plans to start scheduled thrice weekly services to Kaduna, Nigeria, as of August 1st, 2017. With the addition of Kaduna, Ethiopian totally operates 23 weekly flights to Nigeria’s main cities, namely; Abuja, Lagos, Enugu and Kano. Ethiopian Airlines flight service to Nigeria dates back to the 1960’s, soon after the country got independence.

Kaduna, located in north-western Nigeria, is a trade center and a major transportation hub for the surrounding agricultural areas with its rail and road junction.

Group CEO Et

Ethiopian Airlines Graduates Aviation Professionals

Aviation-academy-graduatesJuly 6, 2017 - The 61 years old Ethiopian Aviation Academy has graduated 81 aviation maintenance technicians, 186 cabin crew and catering professionals, and 70 commercial and ground service professionals.
Seven years of successful execution of the airline’s vision 2025 has made it the largest and the best airline in the continent of Africa. The sharp focus on the four Pillars of Vision 2025; fleet, HRD, infrastructure, and systems is one of the most important success factors, said Busera Awel, chief commercial officer at Ethiopian

Operating successfully since its establishment in 1956, Ethiopian Av

Kia Motors Establishes New Training Center in Addis Ababa

KIA-MotorsJuly 3, 2017 - Kia Motors, the South Korean oldest vehicle manufacturer, established a new training center in the Lideta area of Addis Ababa, according to Biz Community.

The center is supported by about $1.8 million investment by KIA Motors and the Korea International Cooperation Agency (KOICA). The new Kia-KOICA Green Light Auto Mechanic Training Centre enables trainee mechanics to work towards a range of vocational qualifications, according to the report.

The centre employs residents from the local community and plans to take on around 60 young trainees each year. In addition to raising employment levels, the Green Light Project-backed facility inc

Ethiopian Airlines Gives Hope for Country’s Flower Exporters

Ethiopian-flower-exportJuly 1, 2017 - Ethiopian Airlines opened its new air cargo terminal, which is comparable to Amsterdam Schiphol, Singapore Changi, or Hong Kong terminals, according to Tewolde GebreMariam, CEO of the Ethiopian.

Airfreight annual throughput at Addis Ababa rose from 175,600 tonnes in 2014 to 211,700 last year while Nairobi volume fell from 259,100 to 231,700 tonnes in the same period, according to data from ICAO.

With a total area of 150,000 square meters, the new terminal handles one million tonnes sensitive products such pharmaceuticals, Life Science products and fresh flowers per annum.

Ethiopia is home to one of the largest r


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