Ethiopian airlines dethroned by Kenyan airways, named African leading airline

Ethiopian airlines dethroned by Kenyan airways, named African leading airline Kenya Airways has been awarded ‘leading airline in Africa’ The last time Kenya Airways bagged this award was in 2016 and 2017, making the timing very encouraging for the airlines because it shows recovery from the blow dealt by COVID-19 For three years starting from 2018, Ethiopian Airlines had held this prestigious award, but it was South African Airways who had dominated this scene for the twenty one years from 1994 to 2015. Although Ethiopian Airlines won the award for the leading brand and economy class, Kenya Airways’ business class emerged on top. The news of the award is met by mixed reactions, though, given that Kenya Airways has financially struggled to remain profitable in the recent past. Reportedly, the company had 11.48 billion Kenyan Shillings (around USD 100 million) in net losses in the six months ending June 2021, saying that the operating environment was still being negatively impacted by the COVID-19 pandemic.

Abyssinia Bank awards CSCEC to construct its 60 storey building headquarter

Abyssinia Bank awards CSCEC to construct its 60 storey building headquarter After using the 15-storey building (bought at 400 million birr from SACA PLC) for seven years, Bank of Abyssinia had recently announced that its management wants to move the headquarters to a new building. The bank just announced that the construction project of this anticipated new building was awarded to China State Construction Engineering Corporation (CSCEC) worth USD 400 million. Being 60 storey high and constructed on 9,763 square meters of land in Mexico – on the road known as ‘the financial district of the city’ – the grandiose building will help the bank upgrade to a higher level. The announcement of this new project came during the same period when the Bank passed the recently set five billion birr paid-up capital requirement, five years before the deadline. The project is expected to start in four months, and it is expected to take five years to be completed. According to Bekalu, who was the president of the Commercial Bank of Ethiopia (CBE) when the state giant awarded the same construction company to construct its 46 storey skyscraper next to Ethiopia Hotel, the addition of this new building will help spur further economic growth. The observable trend of the country’s biggest banks deciding to move into the city’s biggest buildings seems to be only growing. Awash Bank, the biggest private bank in Ethiopia, is also planning to construct a 50-storey building on its 8,700 square meters of land in Mexico, with an estimated cost of 12 billion birr. It is said to begin construction once approval for its land lease request arrives. A few months back, Nib, too, had completed the construction of its headquarters, built on 3,600 square meters of land at a cost of two billion birr – 400 million birr higher than the original budget. 1 COMMENT Aragaw December 22, 2021 At 8:21 am አቢሲኒያ የትጉሃን መናህሪያ!!!!!!! አቢሲኒያ የትጉሃን መናህሪያ!!!!!!! Comments are closed.

Selamawit Zemene wins the AACCI award for best woman entrepreneur of the year

Selamawit Zemene wins the AACCI award for best woman entrepreneur of the year Mrs. Selamawit Zemene, an Ethiopian residing in Nairobi won the Woman Entrepreneur Award of the Year of the Asian-African Chamber of Commerce and Industry (AACCI) at the Asian-African Leadership Forum held in Ghanaian capital, Accra on 10 December 202. She is and the Chief Executive Officer of Signum Company Limited. The Embassy of the FDRE in Nairobi congratulates Mrs. Selamawit on the well-deserved award

A step forward for electric mobility initiative towards policymaking

A step forward for electric mobility initiative towards policymaking The Ministry of Transport and Logistics (MoTL), in collaboration with the GGGI Ethiopia Office, organized a policy dialogue concerning e-mobility initiatives. The discussion consisted of government ministries, the private sector, and partner organizations. The objective of the policy dialogue was to create a gateway for improved networking, experience sharing among key stakeholders. Discuss key issues of policies, standards, and specifications, as well as identify new opportunities and challenges in a bid to solicit inputs for the adoption of electric mobility tailored to the Ethiopian context. During the opening session, Mr. Fitsumbirhan Tsegaye, an Advisor to the Minister of MoTL, briefed the participants on significant activities undertaken to transition to e-mobility as part of the government’s government endeavors toward creating Climate Resilient Transport and Infrastructure Services in the country. He said that awareness-raising events had been conducted on the e-mobility initiative for key government sectors and support functions, including the customs authority and investment offices, to consider possible incentives for the private sectors engaged in green investment and job creation import of electric vehicles. He indicated that the tax structure covering the incentive program for electric mobility has been crafted and referred to pertinent officials at the Ministry for decision. The types of the proposed incentives are financial, non-financial, and action for charging infrastructure. Mr. Fitsumbirhan further noted that paramount importance had been attached to the charging infrastructure that could accommodate the influx of e-mobility vehicles to be imported shortly. He said the effort is also being exerted to explore the land use potential to ensure a sustainable e-mobility in significant cities of the country, including Addis Ababa. Dr. Gemedo Dalle, GGGI Ethiopia Representative, pointed out that Ethiopia has been leading by example with climate-smart policies and strategies. Still, the implementation of these policies and procedures needs significant improvement. He lauded the ongoing efforts being exerted by the MoTL to shed light on the issue of e-mobility and take the leading role in establishing a multi-sectoral policy dialogue as an entry point to transition to green and sustainable transport. He noted that the Ministry had adopted clearly defined objectives and targets that will significantly reduce Green House Gas Emissions in its ten-year perspective plan and encouraged all stakeholders to contribute to implementing this comprehensive plan. Dr. Gemedo expressed that GGGI can explore and tap the immense potentials of its experts and provide policy and technical support to the state and non-state actors engaged in green investment, including non-motorized sustainable transport. He further noted that GGGI could support developing and submitting bankable projects to access financial resources from funding organizations, including the Green Climate Fund (GCF). He added that GGGI would continue supporting the private sector to be accredited for accessing funds from GCF. Subsequently, Ms. Militetsega H. Gebreselassie, Senior Program Officer at GGGI Ethiopia, presented an overview of the GGGI-supported e-mobility program, its implementation strategy, as well as core activities were undertaken, including commissioning of a pre-feasibility study on e-buses (BRT-B2) in Addis Ababa and follow-on stakeholders’ consultative meeting. In his concluding remarks, Mr. Fitumbiran underlined that the participants’ brainstorming ideas, views, and thoughts would serve as potential inputs for adopting the e-mobility policy and unveiled plans that such a consultative platform will be continued monthly in much a broader basis. As part of the way forward, participants of the meeting reached a consensus. They adopted action points, which included, among others, expanding the base of the existing consultative platform through forging strong collaboration and networking with the state and non-state actors, enhancing awareness on e-mobility initiatives to garner supports and engaging partners, including pertinent government officials at the ministerial level, explore possibilities for the expansion of infrastructure meant for non-motorized transport services, and tap a wider window of opportunities to leverage and solicit funds for enhancing the engagement of the private sector in the e-mobility initiative. Tags GCF GGGI MoTL

Strategic Woldia-Mekelle Highway seized by government coalition forces

Strategic Woldia-Mekelle Highway seized by government coalition forces The campaign, led by Prime Minister Abiy Ahmed, cut off the main road to Woldia & Mekelle. Coalition forces have seized control of key towns of Arjo, Fokisa and Boren, including the Zobl plateau, which is strategically located on the eve of the Eastern Front’s offensive against the terrorist invader. Similarly, by controlling the Gura Worke areas, Woldia Mekelle cut off the main highway and left the enemy without a way out. Similarly, by controlling the Gura Worke areas, Woldia Mekelle cut off the main highway and left the enemy without a way out. Meanwhile, the combined forces are advancing on Hara, taking control of the cities and mountains of Dire Roca and Sodom, which are of great military importance. On the Wuchale front, it is moving towards Mersa town, controlling the rolling hills of Ambasal, Robit and Golbon, Milk Kotchan in Werebabo district, Kolbon, Merkata and Fajin areas in Habru district. Tags ethiopia news mekelle tplf woldia road

Ethioipian Gold Project: Akobo Minerals shortlisted for ESG award

Ethioipian Gold Project: Akobo Minerals shortlisted for ESG award Organisations were considered based on how well they have developed a long-term sustainable ESG strategy, and the nominated companies were recognised as having successfully integrated ESG into this strategy in a meaningful manner. The shortlist of those companies was decided by a panel of both ESG and mining industry experts. Commenting on being nominated for the award, Jørgen Evjen, CEO at Akobo Minerals, stated: “We are proud to have been one of only six highly regarded companies from around the world shortlisted for our ESG activities by Mines & Money London. Akobo Minerals, in its present guise, has only been operating for little over one year and despite not winning the award, to even be shortlisted for such a prestigious honour speaks volumes about the great strides we have taken in this time – in general as an exploration and mining operation; and specifically, in developing our ESG activities. “After a period of rapid growth, this shortlisting shows that we are considered to be within an important peer group of respected and forward thinking exploration enterprises. Every employee can be proud of the part they have played in helping to build our world class ESG program – one that is already benefiting the local population on the ground in Ethiopia where we are successfully building our exploration and mining activities. ESG will always be at the heart of our corporate philosophy.” Akobo minerals is a gold exploration and mining company focusing on projects along the Akobo river in southwestern Ethiopia, a prolific area with extensive alluvial gold production. Tags Akobo minerals ESG award

Addis Ababa to host the 4th ET Real estate and expo.

Addis Ababa to host the 4th ET Real estate and expo. December 10, 2021 – The 4th edition of Ethiopian Real Estate and Home Expo aimed at providing a platform for leading local and international real estate developers is set to be held from January 1st to 2nd, 2022 in Addis Ababa. The real estate expo comes at a time where Addis Ababa, the diplomatic capital of Africa is experiencing rapid urbanization with more than 600 real estate business currently in operation. In an effort to address the ever-increasing demand for real estate properties in Ethiopia, 251 Communications has organized the last three rounds of the Ethiopian home expo that brought together thousands of visitors with local and international real estate developers. 251 Communications, with a decade of experience in organizing major events for global companies has finalized all preparations to host the upcoming 4th ET real estate & Home Expo to be held at the Hilton Hotel Addis Ababa. The event is expected to be a one stop destination to fulfil housing, furnishing and installation needs bringing the biggest real estate and home accessories companies in the country under one roof, Showcasing a wide range of products services and properties to potential home seekers.In addition to the growing demand and market gap that drives the real estate sector, Ethiopians and friends of Ethiopians around the world are expected to respond to the national call as part of the Great Ethiopian Home coming initiative that will see 1 million Ethiopian diasporas travel back home in early January 2022 ahead of Ethiopian Christmas celebrations. The 4th ET real estate and home expo which will officially open its doors to the public on the 1st   of January 2021 at the Hilton Hotel Addis Ababa in the presence of officials, invited guests and Members of the media is expected to add value to the progress that is being registered in the real estate development sector while providing the platform for developers to showcase a wide range of products, services, and properties to potential home seekers to discover and find their dream home. For more Information visit Home | ET REAL-ESTATE HOME EXPO (251homeexpo.com) –      Ends   – Tags hayat realestate Noah realestate

Nigeria’s Paga plans Ethiopia and crypto expansions in 2022

Nigeria’s Paga plans Ethiopia and crypto expansions in 2022 Nigerian payment platform Paga plans to press ahead with plans to expand in Ethiopia in 2022, and is also considering developing a crypto-currency product in Africa outside Nigeria, CEO Tayo Oviosu announced. The company has a license to operate in Ethiopia. As yet there is no date to start operations there, but Oviosu hopes it will be in the first half of the year. He does not expect “full-scale civil war” to break out in Ethiopia, where the company has about 40 people on the ground.  Fighting between government forces and the Tigrayan People’s Liberation Front “won’t impede our plans.” in the previous venture Nigerian digital payments startup Paga has acquired Apposit, a software development company based in Ethiopia, for an undisclosed amount. The Lagos based startup will also launch its payment products in Mexico this year and in Ethiopia imminently, CEO Tayo Oviosu stated. The moves come a little over a year after Paga raised a $10 million series B round and Oviosu announced the company’s intent to expand globally a while ago Tags apposit paga

Commercial Bank of Ethiopia to lend over 100 billion birr

Commercial Bank of Ethiopia to lend over 100 billion birr The Commercial Bank of Ethiopia (CBE) has announced that it is ready to provide over 100 billion birr loan to the private sector, agricultural inputs and public enterprises in the current budget year. The lifting of the government’s debt ban will have a significant impact on the country’s economy. It is well-known that private and public banks have been forced to suspend their loans in order to control the economy and the black market. However, the lifting of the three-month ban will have a significant impact on the economy. Commercial Bank of Ethiopia (CBE) Vice President of Credit and Resource Management, Muluneh Lema, told ENA that the bank is ready to provide over 100 billion birr loan this year. He said 25 billion birr will be spent on the private sector, 30 billion birr on agricultural inputs and the rest will be spent on public enterprises. The money will greatly stimulate the economy; It also contributes to job creation, he said. Muluneh said the ban on banks is a temporary solution as it is a temporary solution to stabilize the country’s economy. However, he said bank loans are needed to increase investment and create jobs. He added that one of the main functions of banks is to provide loans and that the profits from the loans will be repaid. According to Muluneh, the lifting of the loan ban will also enable the completion of projects that have been suspended and create job opportunities. Accordingly, efforts have been made to release the loan funds required for the projects in particular, he said. Tags CBE commercial bank of Ethiopia