Issue 178: Sky-High Ambitions

March 17, 2025

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Ethiopian Airlines Group has signed an agreement with the African Development Bank to develop a new mega airport with a $7.8 billion price tag.

Ethiopia's daring expansion in crypto mining, the appointment of Yared Endale as Visa's Eastern Africa GM, Africa’s sluggish intracontinental trade despite AfCFTA, Ethiopia's advancing space program with plans to launch a third Earth observation satellite in 2026, and informative visuals are part of this week’s newsletter.

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$7.8 Billion Price Tag Set for Ethiopia’s New Bishoftu Airport Hub

Ethiopian Airlines Group disclosed plans on Saturday for a $7.8 billion mega airport in Bishoftu, marking the first public reveal of the project’s cost as it signed a preliminary deal with the African Development Bank (AfDB) to meet booming travel demand. Read more.  

Ethiopia Lightly Treads Crypto Prospects as Foreign Investors Eye Bitcoin’s Next Darling

With one of the cheapest electricity tariffs in the world and an evolving regulatory landscape, Ethiopia is rapidly emerging as a hotspot for Bitcoin miners. Read more.

Trump Executive Order Halts VOA Amharic, Tigrigna Services, Sparks Press Freedom Concerns

U.S. President Donald Trump has signed an executive order placing nearly all Voice of America (VOA) staff on administrative leave, effectively halting its Amharic, Afan Oromo, and Tigrigna language services and prompting accusations of undermining press freedom. Read more.

Yared Endale Appointed Visa’s Eastern Africa GM, Eyes SMEs, Cross-Border Payments

Yared Endale, a veteran in Ethiopia’s digital financial ecosystem, was recently assigned the responsibility of General Manager of Eastern Africa at Visa, covering Ethiopia, Djibouti, and the Indian Ocean Islands. Read more.

Keeping Up with Ethio Telecom

Ethio telecom is bigger than ever. Driven by its goal of becoming a leading digital solutions provider, the company launched its Lead Strategy in 2021. Since then, the telecom operator has introduced a range of products and services that go beyond telecommunications. True to its motto, Beyond Connectivity, Ethio telecom is no longer just a telecom provider, and it’s integrating itself into the daily activities of individuals and businesses. The state-owned telecom operator is spearheading the nation’s digitization agenda by developing smart cities, offering cloud solutions, and providing digital loans to millions of people. Some industry players argue that Ethio telecom's involvement in various sectors limits opportunities for private companies. Moreover, its digital solutions are mostly tied to its own payment platform, telebirr. Here’s an overview of some of the major initiatives Ethio telecom has undertaken beyond telecommunications. State Corps Post Growth Eyeing Innovation, Market Innovation.

State Corps Post Growth Eyeing Innovation, Market Innovation

The Ethiopian Insurance Corporation (EIC) generated 9.34 billion birr in written gross premiums, marking a considerable 51.7pc increase compared to the same period last year. Read more.

Multichoice Onboards Culture Ministry, IP Authority to Fight Digital Piracy in Ethiopia

A tripartite agreement between the Ministry of Culture and Sports, Multichoice Group, and the Ethiopian Intellectual Property Authority (EIPA) aims to tackle digital piracy in Ethiopia. Read more. 

Authority Slaps Heavy Fines on Paper-Based Securities with New Directive

The Ethiopian Capital Market Authority has imposed stringent penalties on the issuance and use of paper-based securities as part of a bold push to modernize securities trading in the country. Read more.

Commercial Bank of Ethiopia’s Revised Lending Rates

As Ethiopia’s banking industry undergoes a thorough transformation under a pair of new proclamations and a slew of directives, commercial banks have begun to respond to the winds of change. While the National Bank of Ethiopia has maintained its policy rate of 15%, several commercial banks have already perked up their lending interest rates. The state-owned Commercial Bank of Ethiopia (CBE) announced adjustments to interest rates two weeks ago for several loan types. CBE, which accounts for nearly half of the banking sector’s assets, is currently undergoing a massive restructuring to realign years of questionable lending practices to other state-owned enterprises. According to the Bank, the revision of the lending rate aims to align lending practices with market conditions and ensure the long-term sustainability of the Bank.

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Africa’s Intracontinental Trade Underwhelms Amid AfCFTA Pursuit

Nearly seven years after the African Continental Free Trade Area (AfCFTA) agreement was adopted, intracontinental trade in the continent remains sluggish, at around 14.6%. Read more.

Ethiopia to Launch Third Earth Observation Satellite

Ethiopia announced plans to launch its third Earth observation satellite (EOS) in 2026 with China’s support, a senior official of the Ethiopian Space Science and Geospatial Institute (ESSGI) said last week. Read more. 

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