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Ethiopia aims to be Africa’s top manufacturer, inaugurates industrial park

Ethiopia, which intends to become Africa’s leading manufacturing powerhouse, on Wednesday inaugurated a giant industrial park which is believed to boost exports. The mega project dubbed as Hawassa...

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Ethiopia’s World Heritage Sites are fueling a Tourism Boom

For a landlocked country without any fancy ocean-view beach resorts, Ethiopia’s tourism industry is not doing badly. Named the world’s best tourist destination of the year in 2015, Ethiopia says it...

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Greening Africa’s Industrialization – Economic Report

Structural transformation in Africa’s economies remains the highest priority, and industrialization is the top strategy for achieving it in practice. Achieving the African Union’s Agenda 2063 and...

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The Ethio- Australia and New Zealand Business Forum

Ethiopia is the most preferable foreign investment destination as it is endowed with abundant and diverse renewable energy resources, works for strong regional integration and has strong internal...

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Ethiopia’s Public Enterprises’ Debt on the Rise

The New York and London based Fitch Rating projected Ethiopia’s economic performance for the coming year. Fitch in its report underlined the increasing debt risks from public enterprises. The report...

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Japanese Firm Acquires Huge Stake in State-Owned Tobacco Company

Officials announced in May that the Japanese company, also seller of Camel and Winston cigarettes outside the U.S., had made a bid to acquire a 40 per cent stake in the monopoly. An earlier bid by...

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Launch of the AU Passport, Africa is Now Borderless

During the 27th African Union (AU) summit in Kigali, Rwanda, the AU passport was launched. The idea of a visa-free passport for members of the AU was first established in 2013, as a part of the 2063...

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Ethiopian Airlines inks deal to manufacture and supply aircraft parts

Ethiopian Airlines will start aerospace manufacture in Ethiopia and supply aircraft parts to Boeing, Airbus and other aerospace companies, the airline said in statement on Monday. To that effect,...

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The Ethio- Australia and New Zealand Business Forum

Ethiopia is the most preferable foreign investment destination as it is endowed with abundant and diverse renewable energy resources, works for strong regional integration and has strong internal...

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Fitch Applies Criteria Changes to Ethiopia’s Ratings

Fitch Ratings has affirmed Ethiopia’s Long-Term Local Currency (LTLC) IDR at ‘B’ with a Stable Outlook. The Short-Term Foreign Currency (STFC) IDR has been affirmed at ‘B’ and a new Short-Term Local...

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Sub-Saharan Africa Growing Fast Despite Relative Slow Down

Sub-Saharan Africa remains a fast-growing region in the world despite a relative slow down, report of the multinational professional services firm Ernst & Young (EY) revealed. According to Xinhua...

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Ethiopia’s Remittance Exceeds Export Earnings

Ethiopia has earned 4 billion USD in remittances during the first ten months of the just-ended Ethiopian fiscal year. MoFA Diaspora Engagement Affairs Director-General, Demeke Atnafu said the amount of...

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Ethiopia, Djibouti, China to Launch $4bln Gas Project

Ethiopia says physical work on a massive $4 billion cooperative natural gas project between Ethiopia, Djibouti, and China will soon be launched. The announcement was made Thursday by Ethiopian Foreign...

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Bill Gates to Invest In Financial Services in Ethiopia

Bill Gates, billionaire philanthropist, co-founder of Microsoft and co-chair of the Bill and Melinda Gates Foundation, on Thursday announced his intention to expand Gates Foundation’s investment...

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Ethiopia Seen as Hottest Market for Exporters

Ethiopia is likely to be one of the fastest growing markets for western exporters in the next five years, while erstwhile emerging market heavyweights Brazil and South Africa offer paltry growth....

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Upcoming Ethiopian Diaspora Business Forum to discuss Industrialization

The 11th Ethiopian Diaspora Business Forum which will be held on August 6 in Washington DC will discuss Ethiopia’s shift from agriculture to industrialization. Holding under the theme “Exploring...

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Britain’s exit from EU won’t affect trade, investment ties with Ethiopia

UK Trade Envoy to Ethiopia Richard Benyon said Britain’s decision to leave the European Union will not affect trade and investment relationships between the two countries. The Envoy who is visiting...

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Ethiopia’s Fresh Initiative to Increase Number of Visitors

Ethiopia’s untapped tourism potential is shifting the gear to new initiative to increase number of visitors with its brand new promotion logo “Land of Origin.” The government emphasizes on the need for...

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Ethiopia’s Journey to Industrialization

Ethiopia is an agrarian economy. It has huge land and human labor. As a result, it has designed and has been agricultural lead industrialization since the past two and half decades. In fact, the...

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Ethiopian Women Entrepreneurs in Textile Industry

Ethiopia is the fifth fastest-growing garment producing country in the world. The textiles sector employs mostly women. The sector makes up the third largest manufacturing industry in Ethiopia after...

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