A Letter to the Ministry of Finance: Harnessing Bitcoin Mining for Ethiopia’s Economic Future

A Letter to the Ministry of Finance: Harnessing Bitcoin Mining for Ethiopia’s Economic Future Dear Ministers and Directors, We write to you on behalf of Project Mano, an Ethiopian-led Bitcoin-focused nonprofit initiative. We respectfully submit this detailed proposal to underscore why Ethiopia must urgently embrace state-powered Bitcoin mining and establish its own national Bitcoin reserve. We also respectfully submit this thorough proposal to address Ethiopia’s persistent trade deficit, surging inflation, and chronic foreign currency shortages through state-operated Bitcoin mining and the creation of a national Bitcoin reserve. Over the past few years, Ethiopia’s chronic foreign currency shortages, spiraling trade deficit, and rising inflation have only worsened. Meanwhile, we have witnessed foreign-owned Bitcoin miners quietly benefiting from our cheap, renewable electricity—generating immense private profits, yet leaving Ethiopia with a meager trickle of foreign currency. We have calculations that show Ethiopia itself has an unparalleled opportunity to harness its abundant hydroelectric capacity for mining Bitcoin directly. Such a move can drastically bolster our foreign currency reserves, stabilize the Birr, and mitigate the inflationary pressures that have undermined our purchasing power and contributed to social unrest. Since Project Mano started publicly advocating in 2019, the ETB is sliding from roughly 25 ETB per USD in 2019 to over 139 ETB per USD officially in early 2025. The black market rate, by many estimates, is far higher and accelerating still. Despite Ethiopia’s reported GDP growth rates (often cited at around 7% annually), our purchasing power is outpaced by the 10%–20% annual inflation of global reserve currencies such as the U.S. dollar. In other words: we are not even breaking even. Below is our concise, data-driven case for why the Ethiopian government should seize the opportunity to mine Bitcoin directly—rather than selling our cheap renewable power to foreign crypto miners—and reinvest a meaningful portion of that mining revenue into a national Bitcoin reserve. 1. The Necessity of Hard Money and the Bitcoin Opportunity Inflation and Global Currency Pressures Much like other nations, Ethiopia depends heavily on the FX (such as U.S. dollar, bonds, and treasuries) for international trade, yet these instruments are no longer backed by any finite asset. Historically, repeated and more recent expansions of the U.S. money supply have devalued the dollar’s purchasing power—undermining countries (like ours) that maintain large USD-denominated reserves. The Federal Reserve—and many other central banks—can and do expand the money supply essentially at will, eroding the purchasing power of any country (like Ethiopia) that relies on holding large sums of foreign fiat currency and foreign treasuries. We see the consequences every day. Ethiopia’s USD-denominated holdings (both currency and bonds) lose real value each year—various reputable studies and estimates place the effective true dollar inflation (not CPI) rate between 7% and 10% annually. For Ethiopia, this puts us in a vulnerable position. Our nation invests significant energy into exporting goods simply to acquire more USD, which is then diluted with sovereign interests. Worse still, we also grapple with our own domestic inflation, spurred by internal conflicts, global pressures, and a fragile local currency that is steadily losing value. Holding Ethiopian reserves in an asset like Bitcoin—whose supply is strictly capped at 21 million coins—will offset the global inflation erosion and protect the Birr from further depreciation. The USD inflation is just an addition to the ETB inflation that is caused by recent internal conflicts and wars. Historical Outperformance Over its lifespan, Bitcoin has gained an average of +120% per year. Even after volatility and cyclical downturns, it continues to outperform gold and most other commodities. We first urged the government to consider a Bitcoin reserve in 2019 in an Open Letter to Abiy Ahmed, when BTC was USD 17,000. Today, it surpasses USD 106,000—illustrating the magnitude of missed opportunity. With exchange data revealing that the amount of Bitcoin on trading platforms is steadily declining, the window to acquire BTC at more moderate prices is closing as there are truly finite amounts of these coins. 2. Ethiopia’s Unique Advantage: State-Powered Mining 2.1 Abundant Renewable Energy Opportunity Bitcoin mining is a global process of securing the network and earning BTC rewards. Profitability depends on low-cost electricity and efficient hardware. With hydropower generation costs often well below USD 0.02/kWh, Ethiopia is ideally positioned to become a major mining powerhouse, likely being the most advantaged country with such an advantage. A conservative projection shows that a 33 MW facility (e.g., ~10,000 ASIC miners) can yield around 2,100 BTC per year, worth hundreds of millions of dollars at today’s prices. Scaling to 600 MW (currently sold cheaply to foreign companies) could theoretically generate tens of thousands of BTC annually, translating into USD 2–3+ billion. This figure dwarfs the USD 50–55 million we currently earn by selling that power to foreign miners. The capital outlay for the hardware itself is far less than the billions often quoted for constructing new export-focused transmission infrastructure. Moreover, the hardware can be incrementally deployed—starting small and scaling up as profits reinvest. 2.2 Replacing Foreign Miners with a State Monopoly or PPP Currently a handful of foreign mining operators are exploiting our world-class low electricity costs. They pay minimal tariffs, then export nearly all the mined Bitcoin’s value out of Ethiopia. Some have even lobbied policymakers to prohibit local Ethiopians from mining, securing an unfair monopoly and leaving our country with meager revenues. Project Mano proposes a state-monopolized or public-private partnership approach: The government (possibly via Ethiopian Electric Power (EEP) or another state entity) directly acquires mining hardware by selling bonds to the public or local entities. Publicly regulated local corporations or PPPs then manage day-to-day operations. Foreign partners are welcome only under strict, Ethiopia-centric terms that ensure the majority of profits remain in the country. We must not continue giving away our “oil”—in this case, cheap hydroelectric energy—to foreign firms for pennies on the dollar. 2.3 Concrete Mining Model Example: 10,000 Antminer S20 ASIC machines (each ~3.55 kW) would consume about 33.5 MW—less than 5% of GERD’s full capacity. At current global Bitcoin mining difficulty, such a facility could yield ~2,100 BTC per year. Scaling this to utilize 600 MW (the same amount now sold to foreign miners) could generate tens of thousands of BTC annually—worth billions of dollars in foreign currency, far surpassing the revenue from exporting electricity. 2.4 Bridging Our Trade Deficit The additional foreign currency inflows from state-run Bitcoin mining would help Ethiopia close its trade deficit, alleviate reliance on the black market for USD, and reduce the urgent need for tight capital controls. 3. Establishing a National Bitcoin Reserve Beyond mining, we have advocated in our proposal on bitcoin.com.et and projectmano.com/plan for systematic accumulation and custody of Bitcoin at the national level—akin to how countries hold gold. A multi-pronged strategy can include: Retaining a Percentage of Mined BTC Divert a significant share (e.g., 40–60%) of newly mined coins into a national reserve wallet under the supervision of the National Bank of Ethiopia. Borrowing Against Collateral When the government needs rapid liquidity in USD or other fiat, it can temporarily borrow against the Bitcoin—rather than selling it outright—through established crypto custody solution platforms. Meaning loan repayment secures the collateral bitcoin. Periodically Selling for Forex Needs A smaller fraction of monthly mining output can be sold on international markets to address near-term government budget or trade requirements. By gradually growing a Bitcoin reserve, Ethiopia hedges the ongoing devaluation of the USD. If the Federal Reserve or other major central banks further inflate their currencies, our holdings—pegged to a digitally scarce asset—will offer long-term resilience that no fiat-based asset can rival. The details of how this can be done can be shared in private with any interested parties and a high level highlight of how this should be done can be found on Project Mano’s website, bitcoin.com.et 4. Addressing Risks and Counterarguments 4.1 Volatility Concerns Yes, Bitcoin’s price can fluctuate significantly. However, when one is mining, you acquire BTC well below prevailing market prices (due to leveraging low electricity costs), thereby mitigating the risk. Moreover, historical data indicates that Bitcoin’s long-term trajectory remains upward, correlating with its fixed supply and growing global adoption. 4.2 Regulatory Hurdles Some worry about potential restrictions by international lenders or legacy institutions. Yet we have witnessed countries like El Salvador declare Bitcoin legal tender, and certain U.S. states are pushing for pro-Bitcoin legislation. Africa also stands at the forefront of fintech innovation, and Ethiopia can lead the charge rather than wait for permission from institutions whose monetary policies have historically not served us well. 4.3 Technological Barriers Bitcoin mining hardware (ASICs) is widely available, and the know-how to install large-scale mining farms is no longer niche. Countries with far fewer resources than Ethiopia have established successful mining operations. Ethiopia already has a strong track record of large infrastructure projects (GERD being the most prominent). Rolling out a modern mining facility, powered by hydropower, is straightforward by comparison—especially if we engage credible local and international specialists. 5. The Consequences of Delay: Inflation, Unrest, and Lost Generations Project Mano has insisted since 2019 that we risk permanent economic stagnation if we do not act decisively. The Birr’s freefall is no longer a vague fear or conspiracy on Project Mano website but an everyday reality; Ethiopia’s real foreign exchange position is precarious, necessitating relentless import restrictions. Meanwhile, foreign miners exploit our stranded energy for their sole profit, and other countries—some possibly with far less renewable capacity—are positioning themselves to adopt Bitcoin at scale. The human cost is also staggering. Widening economic gaps and resource scarcity fuel ethnic conflicts, as communities jostle for diminishing purchasing power. The sale of scarce electricity to foreign interests—earning a scant few million dollars in return—while the potential to earn billions is neglected, exacerbates poverty and sows social discord. We see it in daily life: a used car that might cost USD 5,000 elsewhere can cost an Ethiopian nearly USD 17,000 worth of their currency, owing to inaccurate exchange rates and inflated import tariffs. We are all paying for a failing monetary policy. 6. A Comprehensive Approach and Immediate Action State-Monopolized Mining Stop granting exclusive rights to foreign miners. Instead, form public-public or public-private partnerships where Ethiopian authorities own and operate the ASIC hardware, ensuring profits return to the Ethiopian treasury. We have lost a significant amount of revenue by importing foreign miners instead of performing at State level and locals-only Bitcoin mining infrastructure. To finally lift Ethiopia out of this cycle of devaluation, restricted imports, and missed opportunities, we propose the following immediate steps: Formation of a National Task Force Create an inter-ministerial body (including the Ministry of Finance, the National Bank, Ethiopian Electric Power, and credible tech experts) to lay out the roadmap for state-dominated Bitcoin mining and national reserve accumulation. Regulatory and Legal Foundation Pass legislation or directives that: Explicitly permit local Bitcoin mining and ownership. Restrict or heavily regulate foreign-run mining to ensure most revenues remain in Ethiopia. Provide a legal basis for the National Bank of Ethiopia to purchase, hold, and liquidate Bitcoin in official reserves. Pilot Mining Project Start with a pilot near a major hydro site (such as a small portion of GERD capacity, e.g., 50–100 MW). Document profitability, refine operational guidelines, and quickly ramp up capacity once the pilot proves successful. Reserve Management Establish secure custody solutions (e.g., multi-signature wallets) overseen by the National Bank. Decide on a strategic ratio: a portion of mined BTC for immediate sale, a portion for long-term holding, and an optional portion to be used as loan collateral. Public Transparency and Outreach Communicate the plan to the Ethiopian people and the global investment community, highlighting how state-driven Bitcoin mining will reduce dependence on volatile fiat, strengthen the Birr, and create new funding streams for electrification, education, and infrastructure. 7. Conclusion: A Historic Opportunity for Ethiopia While we have lost ample time since first proposing this plan in 2019, it is not too late. But every month that passes sees more Bitcoin mined, bought, and locked away by private funds and progressive governments—rendering it increasingly scarce and expensive for newcomers. Meanwhile, the Birr’s slide against the USD accelerates, fueling the black market, limiting imports, and threatening further social instability. We must act now. By harnessing just a fraction of our immense hydropower, Ethiopia can directly generate billions of dollars annually, stabilize its currency via a robust, cryptographically guaranteed reserve asset, and reclaim its sovereign financial trajectory. In doing so, we will also electrify more of our country, foster tech-savvy job creation, and attract global innovation. In the words often shared in Bitcoin circles: “Fix the money, fix the world.” For Ethiopia, this is more than a slogan—it is a clarion call to seize a golden (and limited) opportunity to transcend a century of monetary constraints. Let us mine Bitcoin ourselves, keep the profits in Ethiopia, and ensure our children inherit a nation with real monetary strength and dignity on the world stage. We, at Project Mano, stand fully prepared to support the Government and the National Bank with technical guidance, global partnerships, and in-depth implementation strategies. We humbly ask that you give this proposal the urgent consideration it deserves. Sincerely,Project Mano

Ethio-Djibouti Railway to Launch Passenger Services in February

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.

Ethiopian Commodity Exchange Launches Online Trading System to Modernize Trade Sector

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.” Key Features of the Online Trading System The newly launched system aims to: Ensure Transparency and Fairness: The platform seeks to address concerns about equity in trading, providing equal opportunities for all participants. Connect Producers and Traders Directly: By eliminating intermediaries, the system aims to streamline transactions and reduce costs. Diversify Exports: The system is expected to support Ethiopia’s export sector by offering a more efficient and accessible trading platform. Promote Economic Inclusion: Farmers and small-scale producers will have access to an inclusive financial system, enabling broader participation in the trade sector. Modernization of ECX 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

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. Key Highlights of the Revision Legal Transaction Price:Under the revised system, manufacturers are now permitted to import goods based on the legal transaction price they provide, rather than undergoing lengthy price verification procedures. This change is expected to reduce delays and improve predictability for manufacturers importing goods. Expanded Beneficiaries:The revised guideline applies to various entities, including: Manufacturers benefiting from the Economic Activation Program, which offers special privileges. Organizations importing goods duty-free, particularly for investment-related purposes. Private organizations conducting government projects and development organizations. Federal and regional government institutions engaged in public development initiatives. Manufacturers benefiting from the Economic Activation Program, which offers special privileges. Organizations importing goods duty-free, particularly for investment-related purposes. Private organizations conducting government projects and development organizations. Federal and regional government institutions engaged in public development initiatives. Improved Customs Processes:The changes aim to modernize customs operations, reduce bottlenecks, and encourage compliance with import regulations. This is seen as part of the Commission’s broader effort to create a more business-friendly environment while ensuring transparency and fairness in trade practices. Industry Response and Expectations 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.

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

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. Global Investments and Business Portfolio Al Amoudi’s fortune is built on a diversified portfolio of companies operating across Sweden, Saudi Arabia, and Ethiopia. His notable business holdings include: Preem, Sweden’s largest oil refiner, which accounts for 80% of the country’s refining capacity. Svenska Petroleum Exploration, a significant player in oil exploration. Midroc Gold, Ethiopia’s largest gold mining company, as well as the undeveloped Okote Gold Mine. Agricultural ventures in Ethiopia, including coffee and rice farms, alongside a 10,000-hectare land concession in Gambella. Various real estate and construction projects under Midroc Europe. 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. Financial Highlights in 2024 and 2025 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. Contributions and Challenges 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. Background and Legacy 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. Outlook for the Future 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.

Ethiopian Airlines Expands Cargo Fleet with Boeing 777 Freighter

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. A New Milestone in Air Cargo Operations 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. Key Features of the Boeing 777 Freighter The Boeing 777 Freighter is designed to offer superior performance and efficiency: Payload Capacity: 102 tons (224,900 pounds), ideal for transporting large shipments, including machinery, pharmaceuticals, and perishables. Range: Capable of flying up to 4,970 nautical miles, making it suitable for intercontinental and transoceanic routes. Efficiency: Equipped with two GE90-110B1 engines, the world’s most powerful jet engines, ensuring reduced fuel consumption and lower carbon emissions compared to older aircraft models. Advanced Technology: Features cutting-edge avionics, robust safety systems, and an optimized cargo loading system, enabling seamless operations across diverse markets. Humanitarian Commitment: A Historic Inaugural Flight 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. Expanding Ethiopian Cargo’s Global Reach 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. Corporate Social Responsibility Meets Cutting-Edge Logistics 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. A Vision for the Future 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. About Ethiopian Airlines 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.

Mayor Adanech Abebe Launches Construction of Kasanchis-Ayat Residential Village

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. 5 COMMENTS Connie Daniels January 23, 2025 At 9:07 pm 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. Antoine Asana January 24, 2025 At 12:23 pm Have you ever been to Africa, there are certain neighborhoods in Africa that rival those in Western countries. 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. Antoine Asana January 24, 2025 At 12:23 pm Have you ever been to Africa, there are certain neighborhoods in Africa that rival those in Western countries. Have you ever been to Africa, there are certain neighborhoods in Africa that rival those in Western countries. Herb January 24, 2025 At 10:20 pm 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. Mr Brown January 26, 2025 At 10:53 am Herb, you are intoxicated with colonial foolishness! It’s quite obvious that you and your parents are clueless to the facts written in the original Ethiopian Bible and the untainted Holy Quran! I’m going to drop the mic ? on your shortcomings and ignorance! You sound like the other cult following MAGA fools! 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. Mr Brown January 26, 2025 At 10:53 am Herb, you are intoxicated with colonial foolishness! It’s quite obvious that you and your parents are clueless to the facts written in the original Ethiopian Bible and the untainted Holy Quran! I’m going to drop the mic ? on your shortcomings and ignorance! You sound like the other cult following MAGA fools! Herb, you are intoxicated with colonial foolishness! It’s quite obvious that you and your parents are clueless to the facts written in the original Ethiopian Bible and the untainted Holy Quran! I’m going to drop the mic ? on your shortcomings and ignorance! You sound like the other cult following MAGA fools! Dawud Ali January 26, 2025 At 1:45 am I t seems beautiful and luxry resident it leads to modern urbanization by Ayat real estate.( experienced plc. I t seems beautiful and luxry resident it leads to modern urbanization by Ayat real estate.( experienced plc. Comments are closed.

Starbucks Celebrates Ethiopia’s Coffee Heritage with New Single-Origin Release

Starbucks Celebrates Ethiopia’s Coffee Heritage with New Single-Origin Release Starbucks is spotlighting Ethiopia, the birthplace of coffee, with the release of its newest single-origin coffee. The Starbucks Single-Origin Ethiopia whole bean coffee, sourced from the Sidama region, is now available across North America this winter. This blonde roast offers a unique flavor profile, with floral aromas and notes of tangerine and lemon balm, celebrating the distinctive characteristics of Ethiopian coffee. Ethiopia’s coffee legacy is central to its economy and culture. As Africa’s largest coffee producer, the country plays a vital role in global coffee production, with nearly 25% of Ethiopians reliant on the crop for their livelihoods. The Ethiopian coffee ceremony, a centuries-old tradition, underscores the cultural importance of coffee as a symbol of hospitality and connection. Leslie Wolford, a Starbucks coffee developer, emphasized the importance of this new release: “The blonde roast really highlights the unique flavor range of Ethiopian coffee, enhancing the intrinsic origin flavors that we’re looking to bring forth.” The coffee bag’s design also honors Ethiopian traditions, featuring the Jebena, a traditional black clay coffee brewer central to the Ethiopian coffee ceremony. Behailu Gebremariam, General Manager of Starbucks’ Farmer Support Center in Addis Ababa, expressed pride in Ethiopia’s role in the global coffee scene. “Coffee is everything to me. From meeting farmers and learning from them to supporting coffee production, this is what makes me happy,” Gebremariam said. This launch also highlights the difference between single-origin and blended coffees. Single-origin beans, sourced from a specific region, allow unique flavors to shine, offering coffee enthusiasts a true taste of place. For many, Ethiopia’s coffee serves as an entry point to understanding and appreciating diverse coffee flavors. As Starbucks brings Ethiopian coffee to a global audience, the company continues to celebrate and honor the rich heritage and traditions of coffee in Ethiopia, cementing its place in the hearts of coffee lovers worldwide. 2 COMMENTS Starbucks Celebrates Ethiopia’s Coffee Heritage with New Single-Origin Release - Ethio Diaspora Hub Service January 23, 2025 At 3:18 pm […] Click here to read more […] […] Click here to read more […] Mekonnen January 24, 2025 At 10:49 pm I am very happy and grateful that Starbucks finally recognizes Ethiopia as the origin of coffee and the Ethiopian coffee as a brand coffee. I thank gratefully Starbucks for promoting the Ethiopian coffee in this manner. I am very happy and grateful that Starbucks finally recognizes Ethiopia as the origin of coffee and the Ethiopian coffee as a brand coffee. I thank gratefully Starbucks for promoting the Ethiopian coffee in this manner. Comments are closed.

Phoenix Group Signs 80MW Power Deal in Ethiopia to Expand Bitcoin Mining Operations

Phoenix Group Signs 80MW Power Deal in Ethiopia to Expand Bitcoin Mining Operations Abu Dhabi-listed blockchain and cryptomining conglomerate Phoenix Group (PHX.AD) has secured an 80-megawatt (MW) power purchase agreement (PPA) with Ethiopian Electric Power (EEP) as part of its global strategy to diversify operations. This milestone marks the company’s entry into the African market, with energy supplies expected to commence in the second quarter, according to a statement released on Wednesday. The agreement will power Phoenix Group’s bitcoin mining expansion in Ethiopia. While the exact location of the facility and financial terms were not disclosed, the project is being implemented in partnership with Abu Dhabi-based cybersecurity firm Data7. “We are aggressively building out our mining capabilities,” said Munaf Ali, CEO of Phoenix Group. He emphasized that this additional energy capacity will drive further growth as the company works towards a dual listing on Nasdaq. In a separate statement to Reuters, the company revealed ongoing discussions with financial institutions and Nasdaq, though no specific timeline for the listing has been provided. Phoenix Group operates mining facilities in multiple countries, including the UAE, the U.S., and Canada. Its shareholders include International Holding Company (IHC.AD), the largest listed firm in Abu Dhabi, chaired by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser and brother of President Sheikh Mohammed bin Zayed. IHC’s diversified portfolio includes investments in agriculture, energy, and cryptomining. Beyond Ethiopia, Phoenix Group is exploring additional investment opportunities in Africa and assessing regions with robust energy potential. The company is also considering an expansion into South America, with Brazil highlighted as a potential market. This 80MW agreement underscores Phoenix Group’s commitment to leveraging global energy resources to enhance its bitcoin mining operations and establish a stronger foothold in new markets.