@EthiopianInvestment – 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.

Ethiopia’s mining sector has shattered expectations with a gold export boom in the 2024/2025 fiscal year. Official reports reveal Ethiopia exported 22.5 tons of gold in just eight months – nearly four times its 6-ton target.

This stellar performance positions Ethiopia to potentially join Africa’s top gold exporters. At the current pace, year-end exports could reach 33 tons, significantly boosting foreign currency reserves.

The mining sector has emerged as Ethiopia’s export champion, contributing the lion’s share of USD1.88 billion in total export earnings. However, the sector faces structural challenges, with artisanal miners producing 95% of output through traditional methods.

To address these challenges, the government plans to operationalize small gold processing factories. This move aims to increase production efficiency while formalizing the largely informal sector.

The gold export surge comes at a critical time for Ethiopia’s economy. While the windfall provides immediate relief to forex reserves, long-term success depends on transitioning from artisanal to industrial mining practices.

Minister Habtamu Tegegne presented these findings during a review of the ministry’s eight-month performance. The report highlights both the sector’s potential and the need for sustainable development strategies to maintain growth.

In a landmark event organized by the British Ethiopian Embassy, the Ethiopia-England Business Forum took place in London, drawing significant interest from both Ethiopian and British business leaders. The forum focused on fostering deeper economic ties between the two nations, highlighting Ethiopia’s emerging investment opportunities amidst its ongoing economic transformation.

During the forum, State Minister of the Ministry of Foreign Affairs of Ethiopia Ambassador Mesganu Arga urged British companies to seize the various investment opportunities arising from Ethiopia’s economic reforms. “Ethiopia is open for business, and we are committed to creating an environment that attracts foreign investment,” he stated, emphasizing the nation’s strategic reforms designed to stimulate growth and innovation.

Ethiopian Ambassador to the UK, Biruk Mekonen, also addressed the forum, providing insights into Ethiopia’s evolving business landscape. He, along with key figures such as the Deputy Executive Officer of Ethiopia Investment Holding and the Commissioner of the Ethiopian Investment Commission, participated virtually to discuss potential investment avenues and the supportive government policies designed to ensure a favorable business environment.

The event attracted a diverse range of British companies, eager to explore the vast opportunities presented by Ethiopia’s expanding market and dynamic economic policies. With a clear focus on strengthening bilateral trade and investment ties, the forum highlighted the mutual benefits that can arise from enhanced cooperation between Ethiopia and the UK.

Ethiopian Airlines Eyes Over Trillion ETB in Revenue by June 2025

Ethiopia’s Mining Sector Contributes USD1.88 Billion in Exports, Led by Gold

Business Forum in London Highlights Ethiopia’s Appeal to British Investors