Ethiopia News

The Pinnacle, Nairobi, Kenya

Work begins on the tallest skyscraper in Africa

The mighty peaks of Kilimanjaro and Kenya are the highest points in Africa, towering over the East Coast nations.

Pictures of Sudan's Nubian pyramids

One of Africa's best kept secrets - its history

Africa has a rich and complex history but there is widespread ignorance of this heritage. A celebrated British historian once said there was only the history of Europeans in Africa.

Addis Ababa, Ethiopia

Africa's economic growth in 2016 was driven by East Africa

While the continent’s major economies were hit by the fall in commodity prices in 2016, Africa retained its position as the second-fastest growing continent globally recording an average of 2.2% GDP growth.

Nairobi to Mombasa high-speed railway opens

Nairobi to Mombasa high-speed railway opens

East Africa is now more accessible than ever. After two years of construction, Kenya’s largest infrastructure project since independence, a $3.8 billion Chinese-built high speed railway, is up and running.

A family enjoying an injera meal at a restaurant in Addis Ababa. Photograph: Boaz Rottem/Alamy/The Guardian

From chefs to musicians, talented 're-pats' come back to build a modern Ethiopia

His dream is to show the world the glories of Ethiopian cuisine, to preserve its rich traditions and to make his fellow citizens eat better.

Novare Lekki Mall (Illustration)

African Property Delivers for Private Equity Investors: Derrick Roper, CEO, Novare Equity Partners

In Sub-Saharan Africa, private equity funds offer investors access to competitively priced assets that have strong growth potential in a region where stock exchanges are still developing.

A woman waved a portrait of Tedros Adhanom Ghebreyesus, the newly elected director general of the World Health Organization, in Geneva on Tuesday. Credit: Valentin Flauraud/European Pressphoto Agency

W.H.O. Elects Ethiopia's Tedros as First Director General From Africa

Tedros Adhanom Ghebreyesus of Ethiopia was voted director general of the World Health Organization on Tuesday, the first African ever to head the agency.

afaricom hopes to spread across Africa. Credit: Reuters/Noor Khamis

Safaricom is planning to expand M-Pesa mobile money across Africa

Safaricom is planning to take its successful mobile money service M-Pesa across Africa after building a dominant home base in Kenya and presence in its East African neighbors.

Pizza Hut Enters Ethiopia in Latest Expansion Into Africa

Pizza Hut Enters Ethiopia in Latest Expansion Into Africa

Pizza Hut is set to open three outlets in Ethiopia this year, becoming one of the first international restaurant chains to enter Africa’s second-most populous country.

Aliko Dangote, CEO, Dangote Group

Aliko Dangote: In for the long haul

Aliko Dangote, Africa’s richest man, is optimistic that the only place to invest in today is Africa.

AccorHotels headquarters in Issy-les-Moulineaux near Paris, France

AccorHotels signs deals to open three hotels in Ethiopia

Europe’s largest hotel group AccorHotels, will open three hotels in Ethiopia by 2021, becoming the latest international chain to tap into the growing business and tourism sectors in the country.

EXEO Capital's Sub-Saharan Africa agribusiness Agri-Vie Fund II attracts over $100M in first close

EXEO Capital's agribusiness Agri-Vie Fund II attracts over $100M in first close

EXEO Capital, the pan-African private equity investment firm, has announced the first close of the second Agri-Vie Fund, focused on the food and agribusiness sector in Sub-Saharan Africa.

Moussa Faki Mahamat attends a meeting in Chad, in 2014. Credit: theguardian.com/Farouk Batiche/AFP/Getty Images

Chad's Foreign Minister Moussa Faki Mahamat elected African Union Chairman

Chad’s foreign minister has been elected as the new chair of the African Union Commission, pledging to place development and security at the top of his agenda and streamline the organization’s bureaucracy.

Marlon Chigwende (L), former Managing Director, Sub-Saharan Africa at Carlyle; Kayode Akinola (R), Director, Africa at KKR. Credit: LinkedIn

Former Africa heads at Carlyle and KKR to set up private equity firm Arkana Partners

Kayode Akinola quits KKR to start firm with Marlon Chigwende. New firm to target investments of less than $100 million in equity.

Modderfontein New City, Johannesburg, South Africa

11 giant infrastructure projects that are reshaping Africa

By the United Nations’ estimate, the continent will see its current population of 1.2 billion double by the year 2050.

Ethiopia Opens Massive Gibe 3 Hydroelectric Dam on Omo River

Ethiopia Opens Massive Gibe 3 Hydroelectric Dam on Omo River

Ethiopia on Saturday officially opened the Gibe 3 hydroelectric dam, which is among the biggest in Africa, despite concerns by environmentalists about its impact downstream and upon neighboring countries.

Felichesmi Mramba, Managing Director, Tanzania Electric Supply Company (TANESCO)

Tanzania plans Ethiopia energy imports as 12-nation regional power pool emerges

Tanzania expects to begin importing electricity from Ethiopia in 2019 when the eastern African nations complete interconnection grids currently to form a regional power pool.

Kenya Plans First Nuclear Power Plant at $5 Billion Cost

Kenya Plans First Nuclear Power Plant at $5 Billion Cost

Kenya plans to begin constructing its first nuclear power plant at a cost of $5 billion by 2021 as the country seeks to bring down the cost of electricity.

Spotlight on East Africa Private Equity: African Private Equity and Venture Capital Association (AVCA)

Spotlight on East Africa Private Equity (Report & Infographic): African Private Equity and Venture Capital Association (AVCA)

Between 2010 and 2016 H1, there were 167 reported private equity deals in East Africa totaling $1.4 billion.

Jeff Schlapinski, Director of Research, EMPEA

Private equity investment in Africa heats up as pension funds stay local

African private equity is having its moment in the sun, with pension funds on the continent ready to invest in their own backyard as investment banks continue to retreat from lending and domestic strategies mature.

Bryan Leith, COO, KPMG Africa

Africa's Economic Prospects: Bryan Leith, ‎COO, KPMG Africa

While on a road show for US clients, Bryan Leith, chief operating officer of KPMG’s global Africa practice, sat down with Global Finance to discuss the continent’s economic prospects.

East African Community a bright spot amidst emerging markets gloom

East African Community a bright spot amidst emerging markets gloom

While many countries are registering a sharp slippage in economic growth, East African economies, Ethiopia included, are expected to deliver above 6 percent economic growth, the World Bank has said in its latest report.

Business-to-business market in Africa to show $1 trillion growth by 2025, says McKinsey

Business-to-business market in Africa to show $1 trillion growth by 2025, says McKinsey

According to the World Bank, 35 of 47 economies in sub-Saharan Africa took at least one step in making it easier to do business in their country in 2015.

Ethiopia and Djibouti have launched the first fully electrified cross-border railway line in Africa.

Ethiopia and Djibouti have launched the first fully electrified cross-border railway line in Africa

Ethiopia and Djibouti have launched the first fully electrified cross-border railway line in Africa.

Akinwumi Adesina, President, AfDB

African economies are through the worst of downturn, says AfDB President Adesina

African economies are probably through the worst of their downturns and growth should accelerate next year, driven by investments in infrastructure and attempts to diversify from commodities, according to the African Development Bank.

Africa's spending to exceed $5.6T by 2025: McKinsey

Africa's spending to exceed $5.6T by 2025: McKinsey

Africa’s household and business spending will top $5.6tn by 2025 and its manufacturing output could reach $93bn, according to a new McKinsey & Company report.

Kia Motors to assemble cars in Ethiopia

Kia Motors to assemble cars in Ethiopia

South Korea’s Kia Motors Corp signed a deal with an Ethiopian company last week to start assembling cars in Ethiopia and is thinking of similar operations elsewhere in Africa.

Buffalo Mall, Naivasha, Kenya

East Africa's second-tier cities hold untapped potential

Retail in Kenya is dominated by informal sellers, but recent years have seen a boom in modern trade, with home-grown supermarket chains expanding their footprint and international brands (such as Carrefour and Massmart’s Game banner) entering the market.

Real GDP Growth Rates (2007 - 2017) of Countries in Africa (Interactive Map & Chart)

Real GDP Growth Rates (2007 - 2017) of Countries in Africa (Interactive Map & Chart)

Visualizations of Real GDP Growth Rates of Countries in Africa (Interactive Map & Chart) from 2007 – 2017.

Konza Tech City

Kenya's $50 billion megaprojects (Photos)

Konza Tech City – The much-hyped Konza Tech City – or “Silicon Savannah” – is hoped to be a world-class hub of entrepreneurship. The $15 billion site, set in 5,000 acres to the south of Nairobi, will accommodate almost 200,000 people, complete with universities, research facilities, and IT centers.

Davido: “Most music that comes out these days has our elements already in it, so why wouldn’t the people love African music?” (Tom Oxley/Washington Post)

Is this the year that African music will conquer the United States?

Whether it’s through hip-hop, R&B, Top 40 radio or Internet memes, Drake is a ubiquitous presence on our cultural landscape. Yet for all of his inescapable hits in the past few years, it was only in May that Drake finally topped the Billboard charts.

BON Hotel Addis Ababa

BON Hotels extends its footprint into Ethiopia

BON Hotels, a hospitality company that owns, manages and markets hotels throughout Africa, has added yet another property to its ever-growing stable.

Africa attractiveness program 2016: EY

Africa attractiveness program 2016: EY (Infographics & Reports)

We are at an inflection point in terms of the structural evolution of most African economies. Decisions made and actions taken now will determine, which of these economies consolidate the gains made over the past decade as a platform for sustainable growth in coming decades.

Mobile Economy - Africa 2016: GSMA

The mobile economy - Africa 2016: GSMA (Infographics & Report)

At the end of 2015, 46% of the population in Africa subscribed to mobile services, equivalent to more than half a billion people. The region’s three dominant markets – Egypt, Nigeria and South Africa – together accounted for around a third of the region’s total subscriber base.

Africa tops 500M mobile users, adds $150B to economy

Africa tops 500M mobile users, adds $150B to economy (Infographic)

Africa now has half a billion mobile users, and the mobile ecosystem added $153-billion to the African economy in 2015, according to a new GSMA study, which predicts smartphone numbers will triple in the next five years.

Duet launches new PE fund focused on distressed Nigerian companies

Duet launches $400M private equity fund focused on distressed Nigerian companies

Duet Private Equity has signed an exclusive agreement with the Asset Management Corporation of Nigeria (AMCON) to establish an investment fund focused on Nigeria’s fast-moving consumer goods (FMCG) sector.

Africa - The great opportunity

Africa: The great opportunity

Africa is rapidly becoming the global economic growth engine. Half of the world’s 25 fastest-growing nations are in Africa and almost 40 per cent of the continent will achieve GDP growth of more than 5 per cent in 2016.

Ethiopian Airlines

The future of aviation in Africa (Video)

Africa is “the next and last frontier in globalization,” according to Tewolde Gebremariam, CEO of Ethiopian Airlines, who says that developing the aviation industry will be vital.

Lagos, Nigeria

Six things to consider when doing business in Sub-Saharan Africa

Over the past two decades, Sub-Saharan Africa has caught the attention of an increasing number of investors who are looking for new and promising opportunities.

Here are 7 predictions for Africa's tech sector

Here are 7 predictions for Africa's tech sector

As Africa transitions from the margins to the mainstream of the global economy, technology is playing an increasingly significant role.

6 reasons to invest in Africa

6 reasons to invest in Africa: Tarek Sultan, CEO & Vice Chairman, Agility

The conversation about Africa is shifting from one of “deficits” and “gaps” to one about opportunities, prospects, ventures and creativity.

3 reasons things are looking up for African economies: McKinsey & World Economic Forum

3 reasons things are looking up for African economies: McKinsey & World Economic Forum

In 2010 the McKinsey Global Institute (MGI) described the potential and progress of African economies as “lions on the move”.