@AfricanUnion – Page 3 – Ethiopian Business Review

Ethiopian Airlines anticipates achieving one trillion ETB ($8 billion) in annual revenue by June 2025, marking a significant milestone in its growth. Group CEO Mesfin Tasew shared this ambitious projection during an interview with BBC News. The airline planned a revenue of $10 billion in 2025, when it crafted its strategic 15-year plan. However, the outbreak of COVID affected the airlines’ revenue as global restrictions on travel affected airlines tremendously.

As part of its expansion, Ethiopian Airlines is making significant strides in the global aviation industry with its plans for a new mega airport in Bishouftu, 43km southeast of Addis Ababa. This airport, to be developed in two phases, will have a transformative impact. Phase One, with a capacity to handle 60 million passengers per year, is set to commence in November this year and be completed by 2029. The second phase, adding another 50 million passenger capacity, will follow shortly thereafter. The new airport, built on 3,500 hectares of land, will make the biggest airport in Afric, symbolising Ethiopia’s leading position in aviation. To ensure the well-being of those affected by the relocation, the airline is constructing residential homes, agro-processing hubs, and trade facilities, ready for the families by November 2025. This new facility will address the growing demand, as Addis Ababa Bole International Airport, despite continuous expansions, has reached its limit of 25 million passengers per year.

This massive infrastructure project directly responds to the increasing number of passengers Ethiopian Airlines serves, both within Africa and globally. In 2024, a report by the African Airlines Association ranked Addis Ababa Bole Airport as the third-busiest airport in Africa, trailing only Cairo and Johannesburg.

Yodahe Arayasalassi, Director of the Ethiopian National ID Program, has been recognized by San Francisco-based Okta as one of 25 global leaders in digital identity. The recognition highlights his pivotal role in shaping Ethiopia’s national identification system, which has already registered over 13 million citizens.

Under Arayasalassi’s leadership, the Ethiopian National ID Program is set to reach 70 million citizens by 2025, providing Ethiopians with secure, accessible, and reliable digital identity solutions. This initiative is a crucial part of the country’s efforts to enhance governance, improve service delivery, and promote financial inclusion.

In a statement shared by Okta, the company emphasized how digital identity has become a cornerstone of global security, particularly in the wake of the pandemic. With the rapid digital expansion, the need for secure digital identities has never been more critical. Okta’s recognition of Arayasalassi underscores the transformative role Ethiopia is playing in the global digital identity landscape.

Okta’s annual Identity 25 honors individuals who have made significant contributions to securing and evolving digital identity systems. The initiative aims to highlight the leaders who are shaping the future of identity, protecting personal data, and ensuring digital inclusivity for all.

Ethiopia is set to host the fourth edition of the Africa Startup Ecosystem Builders Summit & Awards (ASEB 2025). The event, organized by the Africa Startup Ecosystem Builders Society, will bring together entrepreneurs, investors and policymakers from across the continent to Addis Ababa from October 1-3.

Originally planned for Cote d’Ivoire, the summit was relocated due to scheduling conflicts with that country’s national elections. The theme for this year’s gathering is “Empowering Africa’s Startup Ecosystem Builders: Tools, Funding, and Global Visibility for Sustainable Growth,” focusing on strengthening support systems for emerging businesses.

McKevin Ayaba, founder of the ASEB Society, explained that the change in venue presents an exciting chance to highlight Ethiopia’s entrepreneurial potential. “Every good story has moments where the unexpected creates new opportunities,” Ayaba said. “Ethiopia represents an exciting frontier with tremendous entrepreneurial potential.”

Local firm Sahan Advisory Services will serve as the host partner for the event. The company’s co-founder Dr. Jibril Mohamed Ahmed was previously honored as ASEB’s Startup Mentor of the Year in 2022. Sahan CEO Dr. Kassahun Delene Deyassa emphasized the summit’s importance for Ethiopia’s innovation landscape, noting it will help amplify the voices of those building the country’s entrepreneurial ecosystem.

The three-day program will include an awards ceremony recognizing Africa’s top startup supporters, practical workshops on business development topics, and tours of Ethiopia’s innovation hubs. These activities aim to connect Ethiopian entrepreneurs with continental networks and potential investors.

This event comes at a pivotal time for Ethiopia’s technology and startup sectors, which have seen rapid growth in recent years. The summit provides a platform to attract international attention and investment to local innovation efforts while strengthening Ethiopia’s connections to pan-African business networks.

Organizers expect the gathering to highlight Ethiopia’s emerging role as a hub for entrepreneurship in Africa. As Ayaba noted, the event will contribute to “the broader narrative of an Africa whose economic future is shaped by those who enable entrepreneurship.” The selection of Addis Ababa as host city reflects growing recognition of Ethiopia’s potential in the continental startup landscape.

Ethiopia’s horticulture sector has delivered a robust USD366 million in revenue over the past eight months, reinforcing its position as one of the nation’s top three foreign exchange generators, the Ministry of Agriculture announced.

Speaking at the opening of the 9th Hortiflora Expo at Millennium Hall, Agriculture Minister Girma Amente (PhD) highlighted the sector’s growing economic impact, emphasizing its role in job creation—particularly for women, who make up over 80% of the workforce.

The horticulture industry—spanning flowers, fruits, vegetables, and herbs—has not only boosted exports but also spurred the growth of small, medium, and large enterprises across Ethiopia. However, Minister Girma noted that fruits, vegetables, and herbs remain underutilized in terms of export potential.

With global consumer trends shifting toward healthier diets, the government is implementing policy and sector reforms to attract more private investment and maximize opportunities in high-demand markets.

Organized by the Ethiopian Horticultural Producers and Exporters Association (EHPEA), this year’s expo—under the theme “Horticulture for Sustainable Ethiopia”—brings together ministers, producers, diplomats, and industry stakeholders to explore key challenges and innovations.

✔ USD366M earnings in 8 months – Floriculture leads, but fruits/vegetables untapped.
✔ Women dominate workforce – Over 80% of jobs held by female workers.
✔ Policy reforms underway – Govt. aims to boost private sector participation.
✔ Expo highlights sustainability – Focus on agro-logistics, EU compliance, and green growth.

Addis Ababa has launched 100 electric buses, marking a major milestone in the city’s push for sustainable urban mobility. This initiative is part of Ethiopia’s broader efforts to modernize public transport, reduce carbon emissions, and decrease reliance on fossil fuels.

Unveiled by the Addis Ababa City Administration, the electric buses are designed to provide a more efficient, comfortable, and environmentally friendly alternative to traditional transport. Equipped with cutting-edge service features—including a prepaid card system for seamless payments—the buses are set to redefine urban commuting in Ethiopia’s capital.

The fleet will be deployed across various routes, enhancing accessibility and reducing reliance on fossil fuels. The initiative aligns with Ethiopia’s broader efforts to promote green energy solutions and ease the city’s notorious congestion.

The launch ceremony was attended by key government figures, including Addis Ababa City Mayor Adanech Abebe and Minister of Transport and Logistics Alemu Sime (PhD), along with other senior federal and city officials.

The Ethiopian government has implemented various measures to support the transition to electric mobility. In April 2024, the Transport and Logistics Ministry introduced over 30 electric buses in Addis Ababa, emphasizing passenger comfort and environmental responsibility. Additionally, plans were announced to procure 100 electric city buses, further underscoring the commitment to building a green economy.

The government has also initiated the construction of public charging stations and is exploring local manufacturing of EV batteries to reduce import reliance. However, challenges remain, including limited charging infrastructure and the need for skilled mechanics to service electric vehicles.

Ethiopia’s livestock and fisheries sector has made remarkable strides in recent years, with the National Livestock Development Program driving significant improvements. Among the most notable achievements, the country’s egg production has surged from 3.2 billion to 9.1 billion in just four years, demonstrating the effectiveness of targeted agricultural policies, as reported by Ministry of Agriculture.

The program, officially launched on November 03, 2022, by Prime Minister Abiy Ahmed (PhD) in Arba Minch, aims to ensure food security, enhance domestic livestock production, reduce imports, and boost foreign exchange earnings. Minister of Agriculture Girma Amente (PhD) highlighted these achievements during the inauguration of the National Multi-Purpose Dairy Development Training Center in Holeta, a facility backed by the World Bank to train 20,000 dairy technicians and expand farmer support services.

The rapid increase in egg production is part of broader sectoral growth. Cow milk production has risen from 5.8 billion to 10.3 billion liters, chicken meat production has expanded from 90,000 to 240,000 tons, and honey output has nearly doubled to 296,000 tons. The success of these initiatives has prompted a reassessment of future targets to sustain momentum.

A major driver behind this growth is Ethiopia’s expanding artificial insemination capacity, which has jumped from 500,000 to 3 million procedures in just two years, resulting in 1.7 million improved calves born in the last eight months alone. Additionally, eight new Liquid Nitrogen Centers are being established to ensure a stable supply for breeding programs.

The poultry sector has also seen significant advancements. Initially, Ethiopia distributed only 26 million one-day-old chicks annually. Following government intervention, this figure rose to 41 million, and with the establishment of the Grand Parent Stock Center by MIDROC Investment Group and the Ministry of Agriculture, the country now has the capacity to produce 100 million chicks per year. So far, 85 million chicks have been distributed in the past eight months, with plans to reach 150 million by year-end.

Other key developments include the introduction of 1,994 modern beehives and a shift toward fish farming in artificial ponds. Previously reliant on lakes and rivers, farmers now raise fish in controlled environments, with 7.6 million fish fingerlings distributed in just eight months.

The Ministry of Agriculture is prioritizing knowledge-driven development to sustain these gains. The Holeta-based training center will not only equip technicians but also empower model farmers and pastoralists, ensuring long-term growth in the sector. Research institutions and animal development centers are also being urged to collaborate with local communities to maximize impact.

TOYO, a solar solution company, has unveiled ambitious plans to expand its solar cell manufacturing capacity in Ethiopia by an additional two gigawatts (GW), taking its total production capacity to 4GW. This expansion follows the completion of Phase 1 of TOYO’s state-of-the-art facility in Hawassa, which is set to commence production in the second quarter of 2025.

The new expansion, which is part of a broader USD47 million investment, will significantly bolster TOYO’s ability to meet the increasing global demand for high-performance solar cells. Phase 1 of the facility, which was announced in October 2024 and is set to be fully operational by mid-2025, was designed with a capacity of 2GW, a milestone for the company in its mission to lead the solar industry globally.

Junsei Ryu, CEO and Chairman of TOYO, explained, “This expansion is a direct response to the strong global demand for solar energy solutions. The interest in our products, even before Phase 1 is fully operational, is a testament to the strength of our strategic vision and the pivotal role Ethiopia plays in our global expansion.”

The expansion will take place in Hawassa, a growing hub for Ethiopia’s renewable energy industry, and is expected to be completed by July 2025, with full production slated to begin by August.

This new facility, which will occupy an additional 28,000m² of space adjacent to the existing site, will significantly reduce the timeline for development due to the existing infrastructure in place. With a keen focus on sustainability, TOYO aims to reduce its carbon footprint while providing cutting-edge solar solutions to meet global energy needs.

In a show of confidence in the Ethiopian market, TOYO also secured a major $150 million supply contract in November 2024, further solidifying Ethiopia’s role as a key player in the global renewable energy sector.

The Commercial Bank of Ethiopia (CBE), in collaboration with global payment leader MasterCard, has introduced both plastic and virtual international prepaid cards, a move set to enhance digital payment accessibility in Ethiopia.

The launch, officiated by CBE President Abe Sano and MasterCard Africa President Mark Elliott, marks a major step toward modernizing Ethiopia’s financial ecosystem. These prepaid cards will enable users to conduct international transactions with greater convenience, supporting online purchases, travel expenses, and cross-border payments.

CBE officials emphasized that the initiative aligns with the bank’s ongoing efforts to expand digital financial services and provide customers with secure, flexible, and globally accepted payment solutions. The virtual card, in particular, is expected to cater to the rising demand for secure online transactions, while the plastic version offers a physical alternative for international spending.

Ethiopia’s negotiating team has returned from the 5th Working Group Meeting for WTO Membership in Geneva, Switzerland, after securing significant progress in the country’s long-awaited bid to join the global trade body. Minister of Trade and Regional Integration, Dr. Kassahun Gofe, addressed the media in a press conference today, highlighting the fruitful outcomes of the meeting.

Dr. Gofe emphasized that Ethiopia’s successful participation was the result of thorough preparation, recognizing the hard work required for WTO negotiations. At the meeting, Ethiopia received support from 19 countries, signaling increasing global confidence in the country’s reform efforts. “We have not only created a platform to achieve WTO membership in a short time, but we’ve also earned the trust of the organization’s members,” Dr. Gofe stated.

The Minister also explained that Ethiopia’s lengthy application process, which has taken over two decades, was due to the country’s previous “very protectionist” economic policies. “You can’t access WTO membership by closing the economy to foreign players,” he said. Dr. Gofe highlighted that the ongoing economic reforms in Ethiopia, which have opened the country up to foreign investment and trade, are pivotal to securing membership.

Looking ahead, Dr. Gofe emphasized the national benefits that WTO membership will bring. While there may be some initial impact on government revenue, he assured that it would not harm the economy. “Beyond this, it will expand the market for Ethiopia’s products,” he said, reinforcing the long-term advantages of global trade integration. He confirmed that the country is working toward full membership at the WTO Ministerial Conference in Cameroon in 2026, with the 6th Working Group Meeting set for July.

The Ethiopian Electric Power (EEP) announced that it is supplying 265 megawatts of electricity per day to Kenya under the power sales agreement between the two nations.

The 500 kV Ethio-Kenya Converter Station, a critical infrastructure project in East Africa’s energy landscape, is playing a pivotal role in strengthening cross-border power connectivity.

According to Mekonnen Kassie, a maintenance and operations specialist at the station, the facility receives electricity from Wolayta Sodo Substation No. 2 through four 400 kV incoming lines. It then transmits power via 12 converter transformers and 1,680 thyristors, ensuring a steady and efficient flow of electricity to Kenya.

The station operates with two high-voltage direct current (HVDC) poles, each with a capacity of 2,000 megawatts, and facilitates power transmission through a 1,600-kilometer line stretching from Ethiopia to Kenya.

Under the current power sales agreement, Kenya receives 200 megawatts of electricity for 18 hours daily, up until 6 p.m., followed by an additional 65 megawatts for the remaining six hours.

With the capacity to scale up supply, the station is also preparing to support planned power transmission to Tanzania. The broader vision includes expanding Ethiopia’s role in the continental energy market by facilitating power exports to other countries.

To sustain and enhance its contribution, the station is undergoing various capacity-building and infrastructure improvements, aligning with Ethiopia’s long-term strategy to become a regional energy hub.

Newer Posts

Older Posts

Ethiopian Airlines Eyes Over Trillion ETB in Revenue by June 2025

Ethiopia’s Digital ID Chief Named Among World’s Top 25 Identity Leaders by Okta

Ethiopia Set to Lead Africa’s Startup Dialogue as Host of ASEB 2025

Ethiopia’s Horticulture Sector Generates USD366 Million in Eight Months

Addis Ababa Rolls Out 100 Electric Buses

National Livestock Program Boosts Egg Production from 3.2 Billion to 9.1 Billion

TOYO Commits USD47Million to Expand Solar Cell Production in Ethiopia, Reaching 4GW Capacity

CBE and MasterCard Launch International Prepaid Cards

Ethiopia’s WTO Membership Bid Gains Momentum with Support from 19 Countries

EEP Supplies 265MW to Kenya Daily