Addis Ababa, February 20, 2025 (FMC) — Ethiopia’s Minister of Planning and Development, Fitsum Assefa, and State Minister Bereket Tesfamarim met with Mr. Maxim Reshetnikov, Russia’s Minister of Economic Development, to discuss expanding economic cooperation between the two nations. Fitsum, highlighted Ethiopia’s commitment to deepening economic ties with Russia through […]
A sovereign wealth fund (SWF) is a state-owned investment fund that invests in a variety of assets, including real and financial assets such as stocks, bonds, real estate, precious metals, private equity funds, or hedge funds . These funds are typically established to manage a country’s national savings and generate […]
Addis Ababa, February 20, 2025 (FMC) – Six local and international investors, collectively contributing over $60 million, have officially launched construction and machinery installation at the Bole Lemi Special Economic Zone (SEZ). These investors recently entered into service level agreements with the Industrial Parks Development Corporation (IPDC). Feseha Yetgesu (PhD), […]
Addis Ababa, February 19, 2025 (FMC) – UK Deputy Prime Minister (DPM) Angela Rayner emphasized the importance of products being produced in an environmentally sustainable manner while upholding quality standards. She made these remarks during a meeting with the CEO of the Ethiopian Industrial Parks Development Corporation (IPDC), Feseha Yetgesu […]
Ethiopia has announced plans to permit foreign banks from friendly nations to invest in its financial sector, representing a significant shift in the country’s banking policy. However, the highly anticipated bill, revised two months ago, has yet to be officially published. Under the newly adopted banking business proclamation, international banks […]
Doraleh Container Terminal Management Company (SGTD), a leading regional port operator, has made a significant move to enhance operational efficiency with the arrival of 10 new rubber-tyred gantry (RTG) cranes. These cranes, which will be commissioned soon, are anticipated to greatly improve the terminal’s capacity and service quality. In a […]
Ethiopia’s persistent struggle with corruption is casting a shadow on its path toward sustainable development, as revealed by the latest data from Transparency International. The country’s Corruption Perceptions Index (CPI) score for 2023 remained unchanged at 37 out of 100, with a ranking of 98 out of 180 countries. This […]
Addis Ababa, February 17, 2025 (FMC) — The Ethiopian Investment Holdings and Agricultural Works Corporation signed a 600 million USD shareholders agreement to jointly invest in an Integrated Dairy and Commercial Farming Project with the United Kingdom’s Asset Green Company. The agreement was signed in Addis Ababa today in the […]
Addis Ababa, February 16, 2025 (FMC) — The Ethiopian Securities Exchange (ESX) has signed a Memorandum of Understanding (MoU) with the Rwanda Stock Exchange (RSE) to foster collaboration and strengthen cooperation between the two institutions to enhance the overall efficiency and sustainability of capital markets in the region. This strategic […]
Domestic steelmakers have been confronted with a severe crisis driven by escalating scrap metal prices and acute shortages that threaten to undercut their ability to compete. The soaring costs, they argue, are eroding their production capacity, pushing up final product prices, and making imports more appealing to buyers. Many in […]
Madame Kristalina Georgieva, managing director of the International Monetary Fund (IMF), recently became the third IMF chief to set foot in Addis Abeba in over 30 years. Her arrival showed Ethiopia’s shifting economic reality. Unlike her predecessors, who once pressed Ethiopian leaders to open strategic sectors to foreign and domestic […]
Addis Ababa, February 15, 2025 (FMC) – Dangote Group, Africa’s leading industrial conglomerate, and Ethiopian Investment Holdings (EIH) have announced a significant expansion of Dangote’s presence in Ethiopia, reinforcing the country’s attractiveness as a premier investment destination in Africa. Speaking on the new investment, Aliko Dangote, Chairman and CEO of […]