Ethiopia has earned over $4.2 billion in remittance over the past 10 months, a senior official has disclosed. Briefing journalists on Wednesday, the country’s Minister of Planning and Development Fitsum Asefa said the country is attracting over $4 billion on … Continued
Addis Abeba – Ethiopia’s coffee industry is experiencing a robust year, with exports reaching a staggering $1.2 billion in the past 11 months, according to the Coffee and Tea Authority. This revenue stems from the export of 252,446 tons of coffee … Continued
LONDON, (Reuters) – Africa needs quicker debt restructurings, more favourable lending terms and some $25 billion for the Africa Development Fund to avoid a lost decade, the head of its development bank said. The continent was suffering from “long fiscal COVID” and … Continued
Boeing, the world’s largest aerospace company, has picked Ethiopia for its new Africa headquarters. South Africa and Kenya were passed over as preferred locations, losing out on the resulting investment. On The Money Show, Bruce Whitfield notes that Boeing … Continued
South Korea is banking on its first summit with African leaders on Tuesday to raise its profile on the continent and boost economic ties, officials said ahead of the meeting in Seoul. But in an Africa where China, the US, … Continued
Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Djibouti on March 22, 2024. After the negative shock of the pandemic and a weak recovery in 2021, the November 2022 peace agreement in Ethiopia … Continued
ADDIS ABABA, (Xinhua) — China-Africa trade cooperation is playing a pivotal role in fostering inclusive and sustainable development across Africa, a senior official with the United Nations Conference on Trade and Development (UNCTAD) said on Friday. Diane Sayinzoga, UNCTAD’s chief … Continued
ADDIS ABABA, (Xinhua) — Ethiopia attracted 3 billion U.S. dollars in foreign direct investment (FDI) in the first 10 months of the current Ethiopian Fiscal Year 2023/2024, which started July 8, 2023, an Ethiopian official has said. Hanna Arayaselassie, chief … Continued
Hopes of the Kenya Shilling strengthening against the US dollar to the pre-2020 level of about 101 can only be realised sometime in September, according to market analysts. The latest monetary update by the international research body, Economic Intelligence Unit … Continued
The interest by Ethiopia and Uganda in importing goods through Lamu could be the lifeline that the largely moribund port needs even as it continues to register growth in business. Last week Ethiopia received the first shipment of 60,000 tonnes … Continued
KIGALI, Rwanda– Kenya’s President William Ruto Friday called for reforms of international financing institutions to ensure a more inclusive approach. Speaking at the Africa CEO Forum 2024 in Rwandan capital Kigali, Ruto stressed the need to democratize the boards of … Continued
Senior Safaricom executives focused on progress in building its business in Ethiopia along with a group wide transformation effort in fiscal 2024 (the year to end-March), a period when it booked gains in key earnings. Chiefs asserted the company is … Continued
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