Market News
ETHIOPIA 2020 - THE 100 MILLION MARKET
With an aim to become the most favourable investment destination, Ethiopia is currently undertaking massive infrastructural projects. A few of them are:
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The 12000 KM long Addis light railway and Addis-Adama express which has been newly constructed. -
Six major railway routes linking major areas with industry clusters are under construction.
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USD 13 billion worth of road projects have already been sanctioned and many more in the pipeline for allotment
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$4.8 billion hydroelectric dam project the Grand Ethiopian Renaissance Dam project is nearing it completion and is expected to increase the power generation capacity of the country by more than 6000 MW.
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The Government of Ethiopia plans to reach 17000 MW in power generation capacity by 2020, in order to meet the 100% electrification target. Solar, wind, geo-thermal as well as nuclear power plant options are being considered to promote clean energy.
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The country's biggest contributor of foreign investment the Ethiopian Airlines which is also one of the fastest growing and largest aviation group in Africa, will add 37 destinations by 2020 and increase its fleet and cargo capacity by more than 40%.
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The Government of Ethiopia has liberalized major state monopoly companies including Ethiopian Airlines, Ethio-Telecom, Ethiopian shipping Lines and Ethiopian Electric Power Corporation in order to open the sectors for foreign investors
These measures and more have been decided to ultimately help the Ethiopian economy grow and be competitive in the international market.
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Prime Minister Abiy Ahmed puts Ethiopia on the trade map as a top investment destination
Posted on :Monday , 21st October 2019
Mr. Abiy Ahmed Ali, Ethiopia’s young reformist Prime Minister, "for his efforts to achieve peace and international cooperation, and in particular for his decisive initiative to resolve the border conflict with neighboring Eritrea." has been this year’s recipient of the Nobel Peace Prize.
Prime Minister Abiy Ahmed is responsible for initiating important reforms in E. . .
USD 150 million luxury hotel construction in Addis Ababa
Posted on :Monday , 21st October 2019
Aviation Industry Corporation of China (AVIC), a multi-sector conglomerate started the construction of a 5-star hotel for USD 150 million in Addis Ababa, said by Ethiopian Airlines officials on Tuesday.
This 5-star hotel in Addis Ababa is constructed for the Ethiopian Airlines.
Asrat Begashaw, Head of Public Relations in Ethiopia Airlines said that the hotel is being constructed. . .
Ethiopia to construct 5 stadia in Addis Ababa
Posted on :Wednesday , 11th September 2019
Ethiopia plans to construct 5 stadia in Addis Ababa to add on the two existing ones – Yidnekachew Tessema and Abebe Bikila stadia.Out of the five, four are zonal stadia and will be constructed in the districts of Yeka, Nifas Silk Lafto, Bole and Gullele. The zonal stadia will cover an area of 40,000sqm, 70,000sqm and 110,000sqm respectively and each of the have a carrying c. . .USD 98 million received for Ethiopia-Djibouti corridor road project
Posted on :Friday , 6th September 2019
Ethiopia is going to receive USD 98 million funds from African Development Bank (AfDB) for the construction of the Ethiopia-Djibouti corridor road project. The total cost of the project is expected to be USD 255 million.
Djibouti government is expected to fund around USD 5.3 million via AfDB grant while the remaining fund of USD 151 million is expected to be covered by Ethiopia governme. . .
USD 300 million Industrial park to be constructed in Ethiopia
Posted on :Thursday , 5th September 2019
Ethiopia is going to partner with China for the construction of USD 300 million industrial park in Addis Ababa, Ethiopia. Economic and commercial counselor at the Chinese embassy in Ethiopia, Liu Yu announced the report and said that the industrial park is going to focus on engaging equipment manufacturing companies. He also states that land acquisition and financial work has already been in pr. . .
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