Ethiopian Airlines successfully weathered the Covid pandemic by shifting its strategy, but Africa’s only profitable carrier still faces “real challenges” in sourcing parts and staying competitive at a time of inflation, its CEO told AFP. The 2022-2023 financial year ending June 30 “was a very successful year,” Mesfin Tasew said in an interview in Ethiopia’s capital...
Addis Abeba – The World Bank said the Addis-Djibouti corridor will get a significant upgrade with a $730 million grant following a newly approved Horn of Africa Initiative’s Regional Economic Corridor Project. The “vital trade route and a lifeline for Ethiopia’s 120 million people,” received $730 million grant from the International Development Association (IDA), aimed at...
Kenya’s economic growth for the first three months of the year slowed on the back of deceleration in most key sectors amid a recovery in farming activities, the statistics agency announced Tuesday. Kenya’s economic growth for the first three months of the year slowed on the back of deceleration in most key sectors amid a...
An intense fire broke out at the Jigjiga market, situated in the capital city of the Somali state in Ethiopia, on Friday evening. The market, which is a central commercial district in the city, was rapidly engulfed by the devastating fire. At the scene, thick plumes of smoke can be seen billowing into the air...
China is helping African countries upgrade their infrastructure, from telecom networks to high-speed railways, as the world’s second-largest economy brings cash and technologies to the continent. China’s investment in Africa has continued to grow as it has remained the continent’s largest trading partner for 14 consecutive years, according to a report released by the Chinese...
Kenyan President William Ruto has called on African countries to shift away from using the US dollar for intra-African trade. During his address at the Djibouti parliament on Tuesday, Ruto spoke on the need to abandon dependence on the US dollar for trade transactions between African nations. “From Djibouti selling to Kenya or traders from...
By Abdighani Hirad Summary Is Somalia ready to join the East African Community (EAC)? Would Somalia’s political, economic, and social fragility put it in a weak position and negate any benefits derived from the EAC? Given inadequate labor export capacity and critical domestic skills shortages, would the much-touted labor mobility between the EAC members help...
Uganda’s constitutional court on Friday repealed the country’s Narcotic Drugs and Psychotropic Substances (Control) Act, 2015 which, among other things, prohibited the sale and use of several narcotic drugs in the country. This follows a 2017 petition to the court by farmers growing miraa (khat) under their umbrella body Wakiso Miraa Growers and Dealers Association...
Ethiopian Airlines Group, the largest aviation group in Africa, holds a grand opening of the largest hotel on the African continent as it inaugurates the second phase of the Ethiopian Skylight Hotel. Ethiopian Airlines opened the first phase of the Ethiopian Skylight Hotel back in January 2019. With the new extension, the hotel now has...
A crucial component of a nation’s development is economic growth, which is determined by how much more commodities and services are produced over time. Economic growth is a sign of a nation’s general well-being and wealth. Several countries have seen impressive economic growth rates, aiding their emergence as significant world financial players. Several variables, including...