Ethiopia

Kenya Poised to Surpass Ethiopia as East Africa's Economic Titan

29 days ago

In a significant shift in the economic landscape of East Africa, Kenya is on the brink of overtaking Ethiopia to become the largest economy in the region. This development comes amidst a series of ongoing economic reforms and robust growth strategies implemented by the Kenyan government. According to projections, Kenya’s economy is forecasted to grow by 5.5% in 2025, while Ethiopia's growth is expected to slow down to around 4.6%, resulting in a decisive shift in economic supremacy.

Private Equity Fuels $600 Million Dairy Revolution in Ethiopia

3 months ago

In a significant leap towards transforming Ethiopia's agricultural sector, a private equity firm has partnered in a groundbreaking $600 million dairy project aimed at boosting local production and meeting the nation's burgeoning demand for dairy products. The move is part of Ethiopia's broader objective to enhance food security and develop sustainable agribusinesses within the rapidly growing economy.

Ethiopia and Somalia Settle Dispute with Turkey's Mediation: A Major Step Towards Regional Harmony

5 months ago

In a significant diplomatic breakthrough, Ethiopia and Somalia have reached an agreement to resolve their longstanding disputes through a Turkey-brokered deal. The announcement, made on December 12, 2024, marks a pivotal moment in the Horn of Africa's political landscape, as both nations have faced various tensions over territorial and resource issues.

Ethiopia Secures IMF Loan Review, Set to Receive $340.7 Million Payment

7 months ago

In a significant development for Ethiopia's economic landscape, the nation has successfully passed a crucial review by the International Monetary Fund (IMF). This milestone will pave the way for the release of a much-anticipated financial package amounting to $340.7 million. The approval comes following a series of economic reforms implemented by the Ethiopian government aimed at stabilizing the economy and fostering sustainable growth.

Ethiopia Set to Launch Sale of 10% Stake in Ethio Telecom: Details Inside!

7 months ago

In a significant move towards modernizing its telecommunications sector, Ethiopia announced plans to commence the sale of a 10% stake in Ethio Telecom starting October 16, 2024. This decision is a pivotal step in the country's strategy to enhance private sector participation and stimulate growth within one of Africa's largest economies.

Ethiopia Boosts Fuel Supply with $175 Million Injection from Central Bank

8 months ago

It appears to be a key effort towards the stabilization and sustainment of its supply of energy that it has emerged that the central bank of Ethiopia has just approved $175 million for fuel importation. This is an investment important to Ethiopia financially, being a country highly dependent on imported fuel to meet all its domestic energy needs. The decision comes at a time when the country struggles to put in place measures geared toward strengthening the nation's energy infrastructures and ensuring adequate fuel supply at all times.