Ethio-Djibouti Railway to Launch Passenger Services in February

Addis Ababa, Ethiopia – Ethio-Djibouti Railway (EDR) Share Company has announced its highly anticipated launch of passenger transport services, set to begin in February 2025. The move marks a significant milestone for the company as it shifts toward providing efficient and modern transportation options between Ethiopia and Djibouti. The company’s CEO, Engineer Takele Uma, confirmed the launch of online booking services to enhance the convenience and accessibility of ticket reservations for passengers. To ensure seamless and accurate service delivery, the railway will require all domestic passengers to use a National ID (Fayida) for both online booking and travel. “The National ID requirement will help streamline operations and provide passengers with a hassle-free travel experience,” Engineer Takele stated in a recent post on his official social media page. The new passenger transport service is expected to bolster connectivity and mobility between the two countries, offering travelers a reliable and time-efficient alternative to road transportation. EDR aims to position itself as a key player in regional integration by improving transport services and leveraging modern technology to enhance customer satisfaction. The initiative comes as part of EDR’s broader strategy to modernize Ethiopia’s transportation infrastructure, support economic growth, and promote cross-border trade and tourism with Djibouti. The online booking platform, combined with the mandatory ID requirement, reflects EDR’s focus on digital innovation and operational efficiency. Passengers can look forward to traveling in a comfortable, safe, and environmentally friendly manner on the Ethio-Djibouti railway. For more information on schedules and booking procedures, travelers are encouraged to visit the company’s website or contact customer service. This development is expected to boost regional connectivity and strengthen economic ties between Ethiopia and Djibouti, aligning with the nations’ shared goals of economic integration and modernization. Save my name, email, and website in this browser for the next time I comment. Δdocument.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime())

Officials turn to industry resource map in bid to reverse manufacturing inefficiencies

Experts at the Ministry of Industry and unspecified international consultants are wrapping up a new resource map that officials hope will be a crucial tool in placing manufacturing industries in locations with easy access to locally sourced raw materials. The misalignment of industries and resources was a key topic during the Ministry’s presentation of its six-month report in Parliament this week. MPs accused its officials of neglecting their duty to ensure access to raw materials for manufacturers, exemplified by the hoops many of them have to jump through to get their hands on inputs, while others are forced to turn to imports. “Some industries are located much farther away from where they could easily access the raw materials needed. Others hold insignificant value in the economy because they depend fully on imports even if what their production requires is available in the local market,” said a member of the parliamentary committee for Industry and Mining. “There are also other industries who merely import without adding any value. We would like the Ministry to provide us with a plausible explanation for this and an indicative structural plan to improve the situation,” said the MP. Muslima Rashid, another MP, pointed to Jjimma Industrial Park as a prime example of the kind of poor planning plaguing the manufacturing sector. She observes the factories in the park barely utilize the resources available in the surrounding area. “Most of the factories in this industrial park are inoperational. How much research is being done in the lead up to the decision of placing them there?” she asked. Tsedale Abera, a representative from the Benishangul-Gumuz Regional State, demanded that Ministry officials explain why the Industrial Parks Development Corporation (IPDC) failed to develop a park after it secured a plot of land from the Benishangul-Gumuz regional administration. Fetima Hadi (PhD), another MP, called on the officials to provide a full report detailing the level of alignment between the parks’ operation and the country’s long-standing manufacturing policies. He also demanded to see a detailed report on the number of jobs created and forex earned by industrial parks, as well as a presentation on their role in import substitution. Melaku Alebel, minister of Industry, told lawmakers determining where and on what kind of product an investor chooses to use its financing is not a task for the government. “Neither the federal nor regional governments have power over where an investor wants to invest. All we can do is assist them in their selection,” he said. International consultants have drawn up a nationwide resource map for use by regional administrations in guiding investors to areas where their endeavors would be most efficient, according to the Minister. “The consultants have concluded the mapping. All that’s left is consulting with each regional state and putting it into effect,” he said. However, Melaku asserts that using the map will not be mandatory. He acknowledged the inefficiency at industrial parks and told MPs the Ministry would not soon address calls for the construction of parks in a number of regional states. “There is a need to improve the efficiency of existing industrial parks and measure the response. We need to be able to measure how much return every cost will offer. As previously demonstrated; if we make industrial parks like those planted by politics, we will place the country in debt. Decisions are made with this in mind. Therefore, we will not build a new industrial park in the short term. We should make the existing ones effective,” Melaku said. He stated that manufacturers residing within parks make up only a small share of total manufacturing export revenues. “One of the biggest problems with it is that the backward integration is not properly planned. Most of the industries that we put in the parks were built in such a way that more than 90 percent of their raw materials are getting imported,” he told lawmakers.

Trade Ministry re-authors directive to end salt market monopoly

Rescinds mandatory naphthalene treatment Trade officials have issued a directive permitting the operation of salt processing plants outside of the Afar Regional State in a bid to undo the disastrous consequences brought on by another directive from 2023. The directive approved by Kassahun Gofe, minister of Trade and Regional Integration, replaces one introduced under the administration of his predecessor, Gebremeskel Challa, prohibiting the operation of salt processing plants outside Afar and obligating processors to treat industrial salt with naphthalene. The first directive has been criticized for enabling the monopolization of the salt market by a handful of businesses, and members of Parliament have repeatedly called for it to be amended since it was issued over a year ago. The directive granted the Afar Mining Corporation unprecedented control over the mining and supply of salt—a trade that had previously included both private businesses and the state-owned Ethiopian Industrial Inputs Development Enterprise (EIIDE). Breweries and tanneries, which require large volumes of industrial salt, were among the worst affected as the monopoly led to depleted stocks. The directive required all salt intended for industrial use to be treated with naphthalene prior to distribution. However, forex shortages meant that processors could not import the chemical, further exacerbating the problem. The additional cost of naphthalene also burdened processing plants, according to the Ministry. The requirement has now been lifted. Trade officials say a clause in the previous directive permitting manufacturing industries that use salt as an input to keep reserves has led to hoarding and created an artificial scarcity in the market. They argue the amendment was difficult to implement, and prevented the utilization of natural resources. During a parliamentary session last year, officials from the Ministry of Industry decried the absurdity of shortages while there are millions of tons of salt sitting idle in warehouses. At the time, MPs also urged for a political solution to the conundrum as substantial volumes of salt mined and stocked in the Afar region could not be distributed due to the directive. However, some insiders claim the older directive was designed to reserve the salt business for certain companies.

New bill to allow businesses to train, expatriate Ethiopian maritime professionals

The Ethiopian Maritime Authority is considering allowing foreign companies to train and send Ethiopian professionals abroad to work in the maritime industry. This was disclosed while the Ministry of Transport and Logistics, and institutions accountable to the ministry, including the Authority, presented their six-month performance report to Parliament this week. Abdulber Shemsu, director-general of the Authority, told MPs there are a number of projects in the pipeline to grow Ethiopia’s human capital in the maritime industry, including plans to generate foreign currency by sending Ethiopian professionals to fill market needs abroad. Abdulber envisions working with licensed private agencies to train and expatriate these professionals. However, the legal framework that would allow these agencies to operate does not exist. The Authority is looking to include a provision that would provide the legal basis for its plans in the Ethiopian Overseas Employment Proclamation, which was introduced to lawmakers in 2021 by the Ministry of Labor. However, this bill is primarily concerned with training and sending household workers abroad, mainly to Gulf countries, through agencies recognized by the Labor Ministry. The other option would be to introduce a new, separate proclamation that would allow the training and expatriation of professional manpower. “We are discussing which alternative is better. We will decide soon,” said an official at the Authority. The Authority is looking to allow foreign companies to handle the training and expatriation of maritime professionals, as domestic maritime agencies do not have the level of experience necessary, according to the official. Although the overseas employment proclamation accommodates all types of professional work, maritime professionals have needs not covered in the bill, said the official. “For instance, workers going to Gulf countries work based in a permanent place—a house. But maritime professionals go around the globe and do not work permanently in one place. Special legislation is required,” said the official. The Ministry’s report indicates that Ethiopia generated USD 37 million from maritime professionals employed abroad over the last six months.

Ethiopian Commodity Exchange Launches Online Trading System to Modernize Trade Sector

The Ethiopian Commodity Exchange (ECX) has launched a new online trading system, marking a significant step in the modernization of Ethiopia’s trading sector. The system was officially introduced by the Minister of Trade and Regional Integration, Kassahun Gofe (PhD), who described it as a transformative initiative designed to enhance efficiency and fairness in the trade system. In a statement, the Minister said:“We announced key trade reforms that will lay the foundation for a modern trading system. We have launched an online trading system developed by the Ethiopian Commodity Exchange today that will fundamentally change the trading system of our country. The new trading system will make the business sector take its due share in our country’s economy. This online trading system ensures fairness and is a great resource for diversifying our export trade. It connects producers and traders directly from anywhere. Modernizing our marketing system will help farmers benefit from an inclusive financial system. It will also help achieve a fast and inclusive economy. On the same platform, we announced the new logo of the Ethiopian Commodity Exchange, which is introduced based on the concept of digital marketing. In another event, we laid the foundation stone for the construction of the Ethiopian Commodity Exchange, a 24-story building that will be built in our capital, Addis Ababa, Mexico area. The construction of the building is part of an overall transformation package that creates a conducive working environment. It will also be a great resource for our digital trading system.” The newly launched system aims to: As part of the modernization efforts, the ECX unveiled a new logo, which reflects its move toward digital trading. The logo was introduced as a symbol of the exchange’s shift to technology-driven operations. Additionally, the foundation stone was laid for a 24-story ECX building in Addis Ababa’s Mexico area. According to the Minister, the facility is intended to provide a conducive working environment and support the digital transformation of the country’s trade sector. The government has framed the launch of the online trading system as part of a wider effort to modernize Ethiopia’s trade infrastructure, foster export growth, and ensure the sector plays a more significant role in the national economy. The initiative is also expected to contribute to the country’s broader goal of achieving a fast and inclusive economy.

Customs Commission Revises Price Verification Guidelines for Imported Goods

The Customs Commission has announced updates to the price verification system for goods imported by manufacturers, revising the Customs Duty and Tax Payment Value Determination Guideline No. 158/2011. This move is intended to address longstanding complaints from manufacturers regarding delays in determining the price of imported goods and streamline customs processes. The guideline, which has been in effect for over a decade, had reportedly been a source of frustration among manufacturers due to its time-consuming verification process. Recognizing the need for change, the Commission introduced modifications to simplify price determination and improve overall efficiency in customs clearance. Stakeholders in the manufacturing and trade sectors have noted that the revision addresses a critical issue impacting supply chain operations. While the updated system is expected to benefit manufacturers by reducing time and administrative burdens, industry observers are closely monitoring its implementation to assess its effectiveness. The Commission has emphasized that the revisions reflect its commitment to balancing regulatory oversight with the needs of businesses. It has urged manufacturers and other stakeholders to familiarize themselves with the updated guidelines to ensure smooth compliance and avoid potential delays. Further details on the implementation process and any additional changes to customs procedures are expected to be announced by the Commission in the coming weeks. Save my name, email, and website in this browser for the next time I comment. Δdocument.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime())

Mohammed Al Amoudi Among the World’s Top 400 Billionaires in 2025

As of January 23, 2025, Mohammed Al Amoudi is ranked 317th on the Bloomberg Billionaires Index, placing him firmly among the world’s top 400 billionaires. With an estimated net worth of $9.07 billion, Al Amoudi’s business interests span energy, mining, agriculture, and real estate, making him a key figure in global industries and one of the most prominent investors in Africa. Al Amoudi’s fortune is built on a diversified portfolio of companies operating across Sweden, Saudi Arabia, and Ethiopia. His notable business holdings include: These investments collectively solidify his position as Ethiopia’s largest private investor and a key figure in the energy and mining industries globally. His Saudi-based gas station operator, Naft Services, also adds to his extensive portfolio. In 2024, Al Amoudi’s wealth experienced a steady increase, with a Year-To-Date (YTD) growth of $212 million (2.4%) by January 2025. His largest asset, Preem, saw its valuation rise by $2.5 billion in late 2023, reflecting its financial stability and growth potential. Despite market fluctuations, Al Amoudi’s investments have maintained resilience, driven by their strategic diversification across multiple sectors. Al Amoudi’s influence extends beyond business. In Ethiopia, he has invested heavily in sectors such as healthcare, education, and agriculture, contributing to the nation’s development. His philanthropic efforts include funding medical expenses for public figures and supporting infrastructure projects. However, his career has not been without challenges. In 2017, Al Amoudi was detained in Saudi Arabia during an anti-corruption campaign and released in 2019 without any charges or explanation. During this period, his European-based businesses continued normal operations, underscoring the robustness of his enterprise. Born in Ethiopia in 1946, Al Amoudi moved to Saudi Arabia at 19 and became a citizen. He began his career in construction and real estate, later expanding into oil, mining, and agriculture. Notably, he acquired Sweden’s OK Petroleum (now Preem) in 1994 and has since built a global business empire. Today, at the age of 79, Al Amoudi continues to play a significant role in global industries while maintaining strong ties to Ethiopia. His story is one of strategic growth and diversification, making him a key figure among the world’s wealthiest individuals and a major contributor to the economies he invests in. As markets evolve, Al Amoudi’s focus on energy, mining, and sustainable agriculture positions him well for continued success. His standing as one of the world’s top 400 billionaires highlights the global significance of his investments and his ability to adapt to changing economic conditions. Save my name, email, and website in this browser for the next time I comment. Δdocument.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime())

Ethiopian Airlines Expands Cargo Fleet with Boeing 777 Freighter

Ethiopian Airlines, the largest airline in Africa and a leading global air freight operator, has announced the addition of a state-of-the-art Boeing 777 Freighter, ET-BAB, to its ever-growing cargo fleet. This strategic move further strengthens Ethiopian Cargo’s capacity to meet the increasing global demand for efficient, reliable, and environmentally conscious air freight services. The new Boeing 777 Freighter is celebrated for its unrivaled performance in the air cargo sector. With a payload capacity of 102 tons (224,900 pounds) and an impressive range of 4,970 nautical miles, the aircraft is specifically designed for long-haul operations, ensuring Ethiopian Airlines can deliver cargo faster and more efficiently to far-reaching destinations. The introduction of this aircraft represents Ethiopian Airlines’ commitment to maintaining its leadership position in the global cargo market. Ethiopian Cargo now operates one of the most modern and fuel-efficient fleets in the industry, comprising Boeing 777 and Boeing 737 freighters. This addition enables the airline to expand its reach and maintain the high standards of service that have become synonymous with its brand. The Boeing 777 Freighter is designed to offer superior performance and efficiency: Ethiopian Airlines marked the arrival of the new freighter with a humanitarian mission, as its first flight carried life-saving humanitarian aid. This demonstrates the airline’s ongoing commitment to supporting communities in need while contributing to global social responsibility efforts. Ethiopian Airlines has long been recognized for its role in facilitating aid delivery during crises, cementing its reputation as more than just a commercial airline but a vital partner in humanitarian logistics. With the addition of this freighter, Ethiopian Cargo is better positioned to expand its extensive global network, which currently spans over 130 international destinations. The airline has been a key player in connecting Africa to the rest of the world, offering unparalleled cargo solutions that support global trade and regional economic growth. The Boeing 777 Freighter’s capacity to transport large and diverse cargo ensures that Ethiopian Airlines can continue meeting the logistical needs of businesses and governments worldwide. The aircraft will also play a critical role in strengthening Ethiopian Airlines’ multi-hub strategy for cargo operations, which includes strategic centers in Addis Ababa and other key cities. This will allow the airline to streamline operations and provide faster delivery times to customers in North America, Europe, Asia, and Africa. Ethiopian Airlines continues to demonstrate its commitment to sustainability and social responsibility. The introduction of the Boeing 777 Freighter aligns with the airline’s green strategy, as the aircraft is known for its fuel efficiency and reduced emissions. By investing in newer, more efficient technology, Ethiopian Airlines is not only reducing its carbon footprint but also setting a benchmark for sustainability in the aviation industry. In addition to environmental sustainability, Ethiopian Airlines remains a major partner in global humanitarian efforts. The airline has transported millions of tons of aid over the years, including medical supplies, food, and emergency relief materials. This commitment is further reinforced with the latest humanitarian mission undertaken by ET-BAB on its inaugural flight. The acquisition of the Boeing 777 Freighter is part of Ethiopian Airlines’ long-term vision to position itself as a global logistics leader. By integrating state-of-the-art technology and fostering a sustainable business model, Ethiopian Airlines is building an air cargo system that supports economic growth and addresses the needs of a rapidly changing world. As the airline looks to the future, it remains focused on enhancing its cargo operations, expanding its fleet, and strengthening its position as a leader in global logistics. The introduction of the Boeing 777 Freighter is a significant step in this journey, symbolizing Ethiopian Airlines’ dedication to innovation, excellence, and social impact. With its growing fleet and unwavering commitment to excellence, Ethiopian Airlines continues to connect Africa to the world while setting the standard for air cargo operations in the 21st century. Ethiopian Airlines, founded in 1945, is Africa’s largest and most successful airline. It operates the youngest and most modern fleet on the continent and serves over 130 destinations across five continents. Ethiopian Cargo, its freight division, has earned a reputation for delivering efficient, reliable, and cost-effective solutions for businesses, humanitarian organizations, and governments around the globe. For more information, visit Ethiopian Airlines’ official website or follow the airline on social media platforms. Save my name, email, and website in this browser for the next time I comment. Δdocument.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime())

Mayor Adanech Abebe Launches Construction of Kasanchis-Ayat Residential Village

Addis Ababa, January 15, 2017 (FMC) – Addis Ababa City Mayor, Adanech Abebe, has officially inaugurated the construction of 13,752 residential units in the Kasanchis-Ayat Residential Village, a project being executed through a public-private partnership. The initiative, led by the Addis Ababa City Administration in collaboration with Ayat Real Estate, aims to deliver modern housing equipped with essential infrastructure to enhance residents’ quality of life. During the launch event, Mayor Adanech emphasized the city’s commitment to addressing the growing housing demands of its citizens. She highlighted the need for flexible legal frameworks to facilitate housing development through various models, including public-private partnerships, cooperatives, private partnerships, and real estate projects. “The Kasanchis-Ayat Residential Village is a significant step forward in meeting the housing needs of our community,” the mayor stated. She further noted that the 13,752 units being constructed in partnership with Ayat Real Estate are expected to be completed within 18 months. Once finalized, the broader housing initiative in the Kasanchis area is projected to benefit over 100,000 residents. Ato Abiy Mamo, Deputy Chairman of the Ayat Real Estate Board, provided additional details about the project. He explained that the residential village will not only include housing but also feature commercial spaces, meeting halls, sports facilities, schools, healthcare centers, and other critical infrastructure. In addition to addressing housing needs, the construction process is expected to create employment opportunities for more than 10,000 individuals, according to the Ethiopian Zoning and Environmental Authority (ENA). This ambitious project represents a collaborative effort to enhance urban living standards while tackling the housing shortage in Addis Ababa. I would not live in a place like that. I can’t even imagine how living like that would be. Even here in the US. Sure it looks good but , man… it’s horror waiting to happen. That’s a small town crammed into a couple buildings. Have you ever been to Africa, there are certain neighborhoods in Africa that rival those in Western countries. How will people roast their coffee beans. Who will maintain these buildings after construction. Abiy wants to turn Addis into Dubai. Will not work, Ethiopia is an extremely poor country. Save my name, email, and website in this browser for the next time I comment. Δdocument.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime())