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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Ethiopia Airlines to launch US $65m five-star hotel
Posted on :Friday , 18th January 2019
Ethiopian Airline is set to launch US $65m Ethiopian Skylight Five Hotel this month. This is according to the Airline’s Head of Infrastructure Planning and Development, Abraham Tesfaye.
The Head of Infrastructure Planning said that the million dollar hotel whose construction began in 2016, will be officially opened to the public on the 28th of January. The hotel is lo. . .East Africa construction industry outlook promising-report
Posted on :Monday , 14th January 2019
The total number of projects in East Africa has risen by a substantial 96% between 2017 and 2018 with an equally substantial increase of 167% in the total US dollar value of projects, a new report has shown.
The Africa Construction Trends (2018) by consultancy firm Deloitte, reveals that East Africa has a total of 139 projects at a combined value of US$87.1bn. The region accounts. . .East Africa construction industry to grow tenfold over the years
Posted on :Monday , 7th January 2019
Investment opportunities in infrastructure construction is set to expand at a rapid pace in East Africa. According to GlobalData, total infrastructure construction output is expected to soar from US$25.9bn in 2017 to US$98.8bn in 2022 in the three largest markets in the region, Ethiopia, Kenya and Tanzania.
Yasmine Ghozzi, construction analyst at GlobalData said that Inves. . .
Operations of Ethiopia's Grand Renaissance dam to commence in 2020
Posted on :Friday , 4th January 2019
Ethiopia’s water and energy minister Seleshi Bekele announced on Thursday that the country will start energy production at the Grand Renaissance dam in December 2020.
The 6,000-megawatt Grand Renaissance Dam is the centerpiece of Ethiopia’s bid to become Africa’s biggest power exporter.
Bekele told the parliament that 750 megawatts is the planned initial produc. . .
Leaders of East Africa inaugurate Chinese-built projects in the region
Posted on :Friday , 28th December 2018
Chinese-built Jimma Industry Park in Ethiopia’s historic western town of Jimma, some 350 km west of the capital Addis Ababa, was inaugrated by Ethiopian's Prime Minister Abiy Ahmed, Djiboutia's President Ismail Omar Guelleh and Sudanese's President Omar al-Bashir on Saturday. The three leaders also witnessed a corner-stone laying ceremony for another Chinese-contracted major road infrastr. . .
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