News

Ethiopian Investment Holdings (EIH), the entity responsible for managing 34 state-owned enterprises, has announced an ambitious initiative to fully fund the government’s budget deficit within the next five years. This plan comes at a critical time as Ethiopia grapples with significant budget shortfalls exacerbated by various global and domestic economic […]

Gov’t in midst of another attempt at selling off sugar estates Ethiopian Investment Holdings (EIH) reports the state-owned enterprises under its wing amassed 901 billion birr in total revenues over the first half of the fiscal year. The figure is equivalent to USD 5.1 billion and stands on par with […]

Addis Ababa, January 29, 2025 (FMC) – Ethio-Engineering Group announced that it has been making preparations to manufacture electric vehicles in Ethiopia. The group CEO, Suleiman Dedefo, told local news agency ENA that there is abundant lithium in Ethiopia, a key component for electric vehicle battery production. Although the raw […]

Addis Ababa, January 27, 2025 (FMC) – Ethiopia’s Industrial Parks Development Corporation (IPDC) today reported that investors who have registered investments of over 597 million US dollars have entered the special economic zones and the Dire Dawa Free Trade Zone in the past 6 months of the 2024/25 fiscal year. […]

Addis Ababa, January 24, 2025 (FMC) – Indian car company Vipar Auto FZCO has announced its intention to invest in the sector in Ethiopia. This was announced following a meeting between Minister of State for Industry Mr. Hassen Mohammed and representatives of the company in Addis Ababa to discuss potential […]

Addis Ababa, January 24, 2025 (FMC) – The Ethiopian Ministry of Tourism hosted a symposium to inform Japanese business leaders and investors about the abundant investment opportunities in Ethiopia’s tourism industry. During the event, Dr. Endegena Abebe, State Minister of Tourism, reaffirmed the Ethiopian Government’s dedication to advancing the tourism […]

The International Monetary Fund (IMF) Executive Board has completed the second review of Ethiopia’s Extended Credit Facility (ECF), enabling the country to access approximately $248 million to support its balance of payments needs. This decision marks a significant milestone in Ethiopia’s economic reform journey, following the ECF’s approval in July […]

As the world grapples with economic uncertainties, Sub-Saharan Africa is poised for a modest recovery in 2025, according to the latest World Economic Outlook Update from the International Monetary Fund (IMF). The report, released on Friday January 17, highlights a projected growth rate of 4.2% for the region, indicating a […]

Ethiopia is on the verge of becoming a member of the World Trade Organization (WTO), but officials are warning that illicit trade practices could pose significant challenges to this goal. As the country prepares for its fifth round of international trade negotiations in Geneva, scheduled to take place in less […]

One question that 2025 may begin to answer is whether the BRICS (Brazil, Russia, India, China, South Africa) is becoming the new centre of power in world politics. Now that the group has added new members (Egypt, Ethiopia, Iran, and the United Arab Emirates) and come to represent 45pc of […]

Addis Ababa, January 4, 2025 (FMC) – A meeting between Fiseha Yitagesu (PhD), CEO of the Industrial Parks Development Corporation, and Hua Rong Zhang, CEO of Huajian Ethiopia, explored possibilities for future partnerships in the investment sector. During the discussion, CEO of Huajian Ethiopia expressed interest of the company to […]

Addis Ababa, January 3, 2025 (FMC) — Ambassador of Ethiopia to India, Fesseha Shawel, conferred with Mr. Sanjay Aggarwal, Managing Director of IndoGulf Cropsciences Limited, on the possibility of manufacturing agrochemicals and fertilizers in Ethiopia. While the company was already engaged in the export of agrochemicals to Ethiopia, the Ambassador […]