Daily News – Page 5 – Ethiopian Business Review

EBR_News Mar 11, 2026

By Betegbar Yaregal

Ethiopia has emerged as Africa’s fastest-growing major aviation market with a 31.2 percent surge in seat capacity, reaching 17 million scheduled departure seats in the first ten months of 2026, according to the African Travel & Tourism Association’s “Africa in the Air: Aviation & Tourism Outlook 2026” report released this week.

The report, drawing on data from aviation analysts OAG and global industry bodies, reveals that Africa’s aviation sector is experiencing record expansion with international seat capacity up 18.6 percent year-on-year. Across the continent, 182.4 million departure seats have been scheduled a 13.7 percent increase compared to 2025.

Ethiopia’s 31.2 percent growth leads five key aviation markets powering African expansion, including Egypt with 30.9 million seats growing 12.6 percent, South Africa with 26.8 million seats growing 19.6 percent, Morocco with 22.5 million seats growing 21.8 percent, and Kenya with 10.2 million seats growing 22.3 percent. Eastern Africa is currently the fastest-growing sub-region, with seat capacity up 24.3 percent, outperforming North and Southern Africa.

Ethiopian Airlines leads the continent as Africa’s largest international carrier with 23.8 million departure seats scheduled for January-October 2026, cementing its role as the continent’s primary hub connector. The report highlights the airline’s remarkable trajectory, from 20.9 million seats in 2024 to a projected 23.8 million for the first ten months of 2026 alone.

Construction is now underway on the Bishoftu International Airport outside Addis Ababa, which will become Ethiopian Airlines’ principal hub when it opens in 2030 with an initial annual capacity of 60 million passengers, ultimately expanding to 110 million. The report describes this as a landmark public-private partnership, with the airline funding 30 percent of the total cost.

The aviation expansion builds on Africa’s position as the world’s fastest-growing tourism region in 2025, when international arrivals grew 10 percent double the global average. UN Tourism figures show Ethiopia recorded a 15 percent increase in tourist arrivals, placing it among the top five African destinations alongside Egypt (20 percent), South Africa (19 percent), Morocco (14 percent), and the Seychelles (13 percent).

The report highlights that ongoing geopolitical instability in the Middle East could position Addis Ababa as an increasingly strategic alternative routing hub. “Going forward, the balance of Africa’s self-sustaining hubs such as Addis Ababa, Nairobi, Johannesburg and Casablanca may offer Africa greater network resilience,” the report states.

EBR_News Mar 10, 2026

Nib International Bank has been named Best Bank Digital Transformation Ethiopia 2026 by the UK-based Global Banking & Finance Review®, recognizing the bank’s outstanding commitment to digital innovation and customer-centric banking solutions, according to an announcement from the awards body.

The award highlights institutions that demonstrate excellence in leveraging technology to enhance operational efficiency, improve customer experiences, strengthen digital infrastructure, and expand financial inclusion. Nib International Bank distinguished itself through a comprehensive digital transformation strategy that integrates advanced banking technologies with forward-thinking leadership and a strong governance framework.

Barnali Pal Sinha, Editor of Global Banking & Finance Review®, congratulated the bank’s leadership and team, stating that “winning the Best Bank Digital Transformation Ethiopia 2026 award reflects Nib International Bank’s clear strategic vision and commitment to embracing innovation. The bank has demonstrated how digital transformation can drive financial inclusion, operational excellence, and sustainable growth.”

The selection process evaluated multiple criteria including implementation of innovative digital banking platforms, measurable improvements in customer experience and accessibility, expansion of mobile and online banking capabilities, strength of cybersecurity frameworks, operational efficiency achieved through automation, financial inclusion initiatives, strategic partnerships, and scalability of transformation initiatives.

The bank has significantly enhanced its digital banking ecosystem by introducing secure, user-friendly platforms designed to meet the evolving needs of retail and corporate customers alike. Through continued investment in infrastructure, digital channels, and talent development, Nib International Bank has positioned itself as a leader in Ethiopia’s rapidly modernizing banking sector.

The recognition comes just over a year after the bank reported a 2.9 billion birr annual loss in the 2023/24 fiscal year triggered by foreign exchange market reforms, followed by a strong recovery with 1.1 billion birr profit in the first quarter of the current fiscal year and 2.2 billion birr in half-year results.

In addition to strengthening mobile and internet banking capabilities, Nib International Bank has streamlined internal processes through automation and integrated systems, reducing turnaround times and improving service reliability. The bank’s commitment to cybersecurity and regulatory compliance ensured that innovation is matched by robust risk management and governance standards.

The 2026 Global Banking & Finance Review Awards® celebrate institutions and leaders driving progress across the global financial industry through an independent and transparent evaluation process identifying organizations that demonstrate innovation, resilience, strong governance, and measurable impact within their respective markets.

EBR_News Mar 10, 2026

By Betegbar Yaregal

The escalating conflict in the Middle East is placing severe pressure on global fertilizer markets, threatening to disrupt Ethiopia’s agricultural sector just as the critical belg planting season approaches, according to a new analysis examining the implications for Sub-Saharan Africa.

Ethiopia imports over 90 percent of its nitrogen fertilizer requirements, primarily from Gulf states including Saudi Arabia, the UAE, and Iran, with shipments routed through the Red Sea corridor already strained by months of disruptions. The conflict has triggered a surge in global urea prices, with U.S. futures jumping approximately $130 per tonne in the first two days following the strikes, the report notes.

Agriculture accounts for roughly 35 percent of Ethiopia’s GDP and employs over 70 percent of the population. The country imported $1.2 billion worth of fertilizer in 2023, making it one of Sub-Saharan Africa’s largest fertilizer importers. Principal staple crops including teff, wheat, maize, sorghum, and barley are deeply dependent on timely fertilizer availability.

EBR_News Mar 10, 2026

MIDROC Investment Group has reported total sales of 65.99 billion birr in the first half of the 2025/26 fiscal year, surpassing its target and marking a 71 percent increase compared to the same period last year, according to an announcement from the conglomerate.

The group reviewed its performance at the Sheraton Addis Luxury Collection Hotel, with the report indicating that the institution achieved 176 percent of its profit plan, representing a 95 percent increase year-on-year. MIDROC spent more than 18.4 billion birr in Taxes and other government obligations during the period, a 166 percent increase over the same period last year.

The group earned over $155 million in foreign exchange from products and services supplied to international markets in the first half of the year, a 53 percent increase compared to the same period last fiscal year.

CEO Jemal Ahmed stated that the results achieved across all sectors are encouraging while emphasizing the need to focus on marketing, production, and cost reduction. He said the company will concentrate on projects that ensure continued institutional effectiveness by updating project implementation and operating systems.

Jemal noted that MIDROC has completed projects that will make the country proud across all sectors with high quality, commissioning them within the first six months of the fiscal year. He urged all group management to be proactive in ensuring that major new projects are launched this fiscal year and completed on time.

The CEO reaffirmed that MIDROC Investment Group will continue strengthening its contribution to the national economy by increasing its share in domestic and global markets.

During the past six months, two flagship projects Denby Eco Lodge and the Arjo Coal Production Factory were inaugurated by Prime Minister Abiy Ahmed (PhD). MIDROC Investment Group comprises more than 45 organizations organized across six sectors and currently provides employment for over 80,000 citizens.

EBR_News Mar 9, 2026

Ethio telecom has finalized a major network expansion and modernization agreement with ZTE Corporation at the Mobile World Congress 2026 in Barcelona, targeting 647 network sites including 115 rural locations to significantly strengthen nationwide connectivity, according to an announcement from the state-owned operator.

The agreement, concluded during high-level strategic discussions between Ethio telecom CEO Frehiwot Tamru and ZTE’s senior management, will enhance network capacity, coverage, and service quality across the ZTE operational circle. Upon completion, the initiative will increase 4G population coverage to 95.5 percent, enabling millions more citizens, communities, and businesses to benefit from reliable high-speed connectivity.

The project will play a pivotal role in accelerating digital inclusion by extending advanced mobile broadband services to rural and underserved areas, aligning with Ethio telecom’s broader commitment to bridging the digital divide. The 115 rural sites specifically target communities that have historically lacked access to reliable telecommunications infrastructure.

Beyond the expansion program, both parties held forward-looking strategic discussions focused on accelerating the realization of Ethio telecom’s transformative corporate strategy, “Next Horizon: Digital & Beyond 2028.” This follows similar agreements signed earlier at MWC with Ericsson, reflecting a comprehensive multi-partner approach to network modernization.

Ethio telecom stated that the milestone further reinforces the long-standing strategic partnership between the two companies and reflects their shared commitment to advancing Ethiopia’s digital ecosystem through modern, resilient, and future-ready telecommunications infrastructure. The initiative is expected to play a significant role in supporting Ethiopia’s broader digital transformation agenda by expanding high-speed connectivity, enabling innovative digital services, and empowering communities, institutions, and businesses across the country.

The company reaffirmed its commitment to investing in advanced technologies and strategic partnerships to strengthen Ethiopia’s digital infrastructure and accelerate the country’s emergence as a leading digital hub in Africa.

EBR_News Feb 26, 2026

By Betegbar Yaregal

Ethiopian Airlines purchased more than 5,600 counterfeit aircraft engine parts worth approximately USD1.49 million App (£1.1 million) from a fraudulent UK company whose director was sentenced this week to four years and eight months in prison, a London court has heard.

Jose Alejandro Zamora Yrala, 38, a former techno DJ operating from his home garage in Surrey, sold fake components including seals, bushings, vanes, bolts, and washers to major airlines through his company AOG Technics between 2019 and 2023, according to the UK’s Serious Fraud Office. The parts were fitted into CFM56 engines, the world’s most widely used commercial aircraft engine powering Boeing 737 and Airbus A320 planes.

EBR_News March 9, 2026

By Betegbar Yaregal

Prime Minister Abiy Ahmed (PhD) has been appointed as the African Union Champion for Artificial Intelligence and Digital Health, according to a report by the U.S. Chamber of Commerce following a high-level business delegation to Addis Ababa during the 39th African Union Heads of State Summit in February. The appointment came as AU leaders moved from broad declarations to targeted action, adopting the 2026 theme “Assuring Sustainable Water Availability and Safe Sanitation Systems to Achieve the Goals of Agenda 2063” and launching the Africa Water Vision 2063 and Policy, the report stated. Leaders also elevated the African Health Security and Sovereignty Agenda, backed by voluntary contributions to the Africa Epidemics Fund, and reaffirmed Africa’s common position on UN Security Council reform.

News December 29, 2025

Shabelle Bank expanded its balance sheet sharply in the 2024/25 financial year, with total assets rising by about 61 percent to 6.03 billion birr, up from 3.76 billion birr a year earlier. The performance was presented during the Bank’s 4th Annual General Meeting held in Jigjiga on December 28, 2025.

Shareholders approved the Bank’s annual report and audited financial statements for the 2024/25 financial year, covering a period marked by rapid asset growth, capital mobilization, and branch expansion, according to information disclosed at the AGM.

Shabelle Bank’s total assets rose to 6.03 billion birr, up from 3.76 billion birr a year earlier, representing a year-on-year growth of about 60.5 percent. The expansion was supported by improved liquidity, higher capital levels, and stronger engagement with institutional and government partners. Cash and cash equivalents alone increased by more than 630 million birr, strengthening the Bank’s liquidity position.

Customer deposits reached 2.27 billion birr during the year, reflecting growing public confidence in the Bank, while outstanding loans expanded to 1.73 billion birr, supporting financing activities across productive sectors. The Bank now serves about 1.7 million customers through a network of 65 branches nationwide, supported by 646 staff.

Capital building remained a central focus. Paid-up capital stood at 2.26 billion birr by the end of the reporting period, with 878.4 million birr mobilized through share sales during the year, equivalent to 88 percent of the annual target. The Bank noted that increased participation by regional governments has strengthened its capital base while also deepening strategic partnerships.

Operationally, Shabelle Bank generated total income of 570.3 million birr, a five percent increase from the previous year. Total expenses were held at 544.06 million birr, equivalent to 87 percent of the budget. As a result, the Bank recorded a net profit of 20.95 million birr, a 65.6 percent increase compared to the prior year, reflecting improved cost management and income diversification rather than scale-driven profitability.

Foreign currency mobilization reached 5.63 million US dollars. This was supported by correspondent banking and remittance partnerships with institutions including Bank of Beirut UK, Equity Bank Kenya, Afreximbank, and several regional and international remittance operators.

Speaking at the AGM, Ibrahim Osman Farah, Chairman of the Board, said the results reflect the Bank’s focus on governance, regulatory compliance, and long-term sustainability. Abduljuhad Hassen Mohamed, Acting Chief Executive Officer, highlighted continued investment in digital banking, product diversification, and institutional capacity as key priorities going forward.

Still in its early years of operation, Shabelle Bank said it will continue prioritizing prudent risk management, capital strengthening, and regional outreach as it works toward long-term growth and alignment with National Bank of Ethiopia directives.

December 29, 2025

Ethiopian Airlines has successfully completed the first full strip-and-paint program on an Airbus A350-900 aircraft in Africa, achieving a major technical milestone. The airline performed the work on two of its own aircraft at its maintenance hub in Addis Ababa, significantly advancing its in-house MRO (Maintenance, Repair, and Overhaul) capabilities for modern wide-body jets.

As announced on December 26, the airline has become the first in Africa to offer such a service, which significantly advances the airline’s aim for operational excellence.

Group CEO Mesfin Tasew stated the achievement reinforces the airline’s operational resilience, self-reliance, and global standing. “Beyond saving costs, this enables us to generate additional revenue and reinforce our position as a leading MRO service provider,” he said.

This latest accomplishment builds on substantial prior investment in expanding technical capacity. In July 2025, the airline inaugurated a $150 million MRO expansion project, adding a new component workshop, a central warehouse with an automated storage system, and two additional wide-body hangars, bringing its total to eight.

According to the group, Ethiopian MRO has been offering aircraft maintenance services, including advanced aircraft and parts painting and coating solutions, through its modern paint shop and state-of-the-art dedicated paint hangar for nearly six decades. The facility serves both Ethiopian Airlines’ fleet and third-party customers. The airline is one of the leading aircraft maintenance service providers in Africa and the Middle East.

Currently, Ethiopian Airlines possesses comprehensive in-house aircraft painting and specialized multi-layer coating capabilities on both advanced composite and aluminum airframes, across its entire fleet, enabling the airline to efficiently handle painting and coating projects using highly advanced application methods like High-Volume Low-Pressure (HVLP) and electrostatic systems spraying.

Established in 1957, Ethiopian MRO Services now employs over 3,000 technical staff, a facility certified by competent regulatory bodies like ETCAA, FAA ,EASA and other Middle east and African Civil Aviation Authorities.

The division serves the airline’s own fleet of over 140 aircraft and offers total care and other supports for third party customers like ASKY Airlines, Malawian, Tchadia airlines, Rwandair, Jambojet, Zambia Airways , providing everything from line maintenance to advanced composite painting for Boeing 787 and now Airbus A350 aircraft.

By Betegbar Yaregal -December 24, 2025

Prime Minister Abiy Ahmed (PhD) and Kenyan President William Ruto (PhD) have announced full governmental support for strategic joint investments between Ethiopia’s state-owned Ethio Telecom and Kenya’s Safaricom. The agreement was reached during a one-day working visit by President Ruto to Addis Ababa.

In a statement on social media platform X, Prime Minister Abiy said the meeting reflected the deep and historic relations between the two nations. The leaders discussed strengthening bilateral ties and reaffirmed a shared commitment to stability and African-led solutions in the Horn of Africa.

President Ruto, in a separate statement, said the two governments agreed to support Ethio Telecom and Safaricom as they explore joint investment opportunities in regional markets.

“I made a visit to Addis Ababa, Ethiopia, where I held fruitful discussions with Prime Minister Abiy. Among other key issues, we agreed to support Ethio Telecom and Safaricom as they explore strategic joint investment opportunities across regional markets, with the full backing of the governments of Kenya and Ethiopia.”

The high-level meeting was also attended by Safaricom Group CEO Peter Ndegwa and Safaricom Ethiopia CEO Wim Vanhelleputte. Their presence has led observers to speculate that the talks may have addressed the competitive challenges faced by Safaricom in the Ethiopian market, where it operates as a major rival to the dominant Ethio Telecom.

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Ethiopia Leads Africa’s Aviation Boom with 31% Capacity Growth, ATTA Report Reveals

Nib International Bank Wins ‘Best Bank Digital Transformation Ethiopia 2026’ Award

Middle East Conflict Threatens Ethiopia’s Fertilizer Supply, Risks Food Security Ahead of Planting SeasonMiddle East Conflict Threatens Ethiopia’s Fertilizer Supply, Risks Food Security Ahead of Planting Season

MIDROC Posts 66 Billion Birr in Six-Month Sales, Profit Surges 95%

Ethio Telecom, ZTE Ink 647-Site Deal to Push 4G Coverage to 95.5%

Ethiopian Airlines Lost $1.5 Million in Fake Plane Parts Scam, UK Court Hears

Abiy Named AU Champion for AI and Digital Health as U.S. Business Delegation Deepens Ties in Addis

Shabelle Bank’s assets jump 61pct to 6.03 billion birr as deposits reach 2.27 billion birr

Ethiopian Airlines Launches Africa’s First A350-900 Full Paint & Strip Service

Ethiopia and Kenya to Back Ethio Telecom, Safaricom Partnership