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Channel Posts
Heineken Appoints Rafael Oliveira as CEO, First Outsider to Lead Brewer
#EBR_News Jun 23, 2026
Heineken has appointed Rafael Oliveira, the chief executive of coffee and tea giant JDE Peet's, as its new CEO, marking the first time in the Dutch brewer's history that an external candidate has been selected to lead the company.
Oliveira will take over on October 1 for a four-year term, succeeding Dolf van den Brink, who announced his departure earlier this year after six years at the helm of the world's second-largest brewer.
The appointment comes as major alcohol producers grapple with slowing sales, changing consumer preferences, rising living costs and growing health concerns linked to alcohol consumption. Industry players are increasingly seeking fresh leadership as they look for new ways to stimulate growth in a challenging market environment.
Heineken said Oliveira was selected following a global search process and cited his experience in strategy execution, operational management and financial performance. Investors welcomed the announcement, with the brewer's shares rising about 3% after the news.
Oliveira currently leads JDE Peet's, one of the world's largest coffee and tea companies. Before that, he spent a decade at Kraft Heinz, where he oversaw operations across Europe, Africa, Asia-Pacific and Latin America. Earlier this year, he had also been tapped to lead Keurig Dr Pepper's planned Global Coffee Company following its acquisition of JDE Peet's.
Despite his extensive consumer goods background, Oliveira has no direct experience running a beer or alcohol company. Some analysts view that as a risk, while others believe an outsider's perspective could help accelerate change at a time when traditional beer markets are facing increasing pressure.
Heineken is currently implementing a restructuring program that includes cutting up to 6,000 jobs globally while pursuing its "EverGreen 2030" strategy, which aims to improve growth and profitability with a leaner operating model.
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| 3 | NBE Announces $100 Million Special Forex Auction as Fourth-Quarter Schedule Nears Completion
#EBR_News Jun 23, 2026
The National Bank of Ethiopia has announced its 24th foreign exchange auction, offering $100 million to commercial banks on Wednesday, 24 June 2026, completing the second and final tranche of the central bank's fourth-quarter allocation of $200 million, a schedule that was disrupted earlier this month when the June 9 auction was cancelled due to what the central bank described as unforeseen technical issues.
According to the notice issued on 23 June, licensed commercial banks may submit bids through the CSD-based auction platform between 10:00 AM and 12:00 noon, with results to be announced by 3:00 PM and settlement completed before the close of business the same day.
The format mirrors all previous rounds since the NBE launched its structured bi-weekly FX auction programme in August 2024, following Ethiopia's landmark dismantling of its fixed exchange rate system in July of that year.
The June 24 auction arrives against a backdrop of notable rate volatility across recent rounds. When the NBE finally held its reopened June 9 auction on June 16, the $100 million on offer attracted $236.30 million in bids from 16 commercial banks, a bid-to-cover ratio of 2.36-to-one, with the auction clearing at a weighted average rate of 158.00 birr per dollar.
That result represented an appreciation of approximately 1.2 per cent against the May 19 special auction, which cleared at 159.98 birr per dollar, but a depreciation of roughly 0.7 per cent compared to the June 3 regular auction, which cleared at 156.87 birr per dollar.
Participation has also fluctuated in ways that market observers are watching closely. The June 16 auction drew only 16 banks, a sharp decline from the 30 that participated in the May 20 auction, with allocations going to just eight institutions compared to 14 previously.
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| 5 | UN Economic Commission for Africa Flags Delivery Gap as It Pushes to Complete 75% of Annual Work Programme by September
#EBR_News Jun 23, 2026
The United Nations Economic Commission for Africa has signalled both progress and urgency at its mid-year performance review, acknowledging that while nearly three-quarters of its corporate milestones have been achieved, the pace of delivery on annual programme targets must accelerate if the Commission is to meet its commitments to member states before the year ends.
The Second Quarter Annual Programme Performance Review Meeting, held in Addis Ababa from 17 to 19 June 2026, brought together ECA leadership and programme divisions to assess delivery across the Commission's core work areas, including the African Continental Free Trade Area, regional value chains, technology and digital transformation, and macroeconomic policy, finance, and planning.
According to ECA, 71.4 per cent of corporate milestones have been achieved to date, but the Commission has set itself the target of completing 75 per cent of its full-year deliverables by the time of the third quarter review, a benchmark that will require a measurable step-up in output over the coming months.
Said Adejumobi, Director of ECA's Strategic Planning, Oversight, and Results Division, which organised the review, said the Commission was "at a critical juncture" and needed to pick up the pace on annual deliverables.
Among the concrete initiatives highlighted at the review, ECA said it is developing three regional value chains for intensified focus, though the specific sectors were not specified in the Commission's public communications, and will convene its Committee on Climate Change, Blue Economy, Agriculture, and Natural Resources Management.
The Commission is also launching what it described as a pioneering training course on Economic Diplomacy targeting young African diplomats, and plans to increase visibility and outreach around its flagship publications. ECA further said it is deepening partnerships with the African Union and Regional Economic Communities to accelerate implementation of Agenda 2063 and the United Nations' Agenda 2030 for Sustainable Development.
ECA Executive Secretary Claver Gatete used the review to reaffirm the Commission's capacity to deliver, while acknowledging both external and internal pressures. Gatete stressed the need to address staff welfare, enhance teamwork, and sharpen focus on strategic priorities remarks that suggested the delivery challenge is not solely a question of programming but also of institutional culture and workforce conditions.
Deputy Executive Secretary Hanan Morsy, responsible for programme support, called for more deliberate planning processes, urging teams to define ownership more clearly and strengthen accountability frameworks. "We need more intentional planning, clearer ownership, and better accountability," Morsy said.
Deputy Executive Secretary Mama Keita, overseeing operations, acknowledged that results had been delivered in a resource-constrained environment, crediting the expertise of the Commission's professional staff.
The review takes place at a moment of considerable pressure on Africa-focused multilateral institutions. With official development assistance flows under strain globally and the financing gap for Agenda 2063 remaining wide, ECA's role as the continent's principal United Nations economic think tank and policy advisory body carries heightened significance.
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| 7 | Kenya Creates Autonomous Cybersecurity Agency as Digital Economy Expansion Outpaces Existing Defences
#EBR_News Jun 23, 2026
Kenya has established a National Cybersecurity Agency following parliamentary approval of the National Cybersecurity Agency Order, 2026, a move the government describes as a strategic response to a widening gap between the country's rapidly expanding digital economy and its capacity to defend it against a growing volume of cyber threats targeting public institutions, financial systems, and critical national infrastructure.
The agency, created as an autonomous regulatory and technical body under the State Corporations Act, was formally constituted by President William Ruto through a special gazette notice dated 15th May 2026.
According to the Ministry of Interior and National Administration's press release, the National Cybersecurity Agency (NCSA) will operate under the Cabinet Secretary responsible for internal security, with its headquarters in Nairobi and powers to establish satellite offices and operational centres across the country as needed.
Its governing board will bring together representatives from Internal Security, the National Treasury, the Ministry of Information, Communications and the Digital Economy, the Office of the Attorney General, the Kenya Defence Forces, the National Police Service, the National Intelligence Service, and the Office of the Director of Public Prosecutions, alongside representatives from academia and the private sector.
The Ministry of Interior said in its press release that cybercrime, ransomware attacks, online fraud, identity theft, malicious software, data breaches, misinformation campaigns, and attacks on critical digital infrastructure continue to pose growing risks to national security, economic stability, and public confidence in digital services, risks that existing institutional arrangements were not designed to coordinate at the scale now required.
Among the NCSA's core mandates, according to the gazette notice, will be formulating and overseeing the implementation of national cybersecurity strategies across both the public and private sectors.
Auditing and certifying the cybersecurity resilience of designated critical information infrastructure, managing the day-to-day operations of the National Cybersecurity Operations Centre, and conducting regular technical assessments of government and private sector digital networks to identify vulnerabilities and enforce compliance with cybersecurity standards.
The agency will also deploy advanced analytical and forensic tools to detect emerging threats and issue technical advisories to relevant stakeholders, functions previously distributed across multiple institutions without a single coordinating authority.
A particularly notable element of the agency's mandate is the establishment of a Cybersecurity Centre of Excellence, which the gazette notice describes as aimed at promoting local innovation, advanced research, and the development of locally designed cyber defence tools.
The Centre will also run specialised professional certification programmes and technical training courses intended to address Kenya's cybersecurity skills gap, a structural constraint that analysts across the continent have identified as one of the most significant barriers to effective national cyber defence.
The agency will additionally serve as Kenya's primary institutional link to international cybersecurity forums and peer institutions, facilitating the exchange of threat intelligence and best practices across borders.
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| 9 | African Development Bank and Japan Back $1.8m Equity Crowdfunding Push to Bridge Ethiopia's SME Financing Gap
#EBR_News Jun 23, 2026
The African Development Bank and the Government of Japan have completed a joint field mission to Ethiopia to assess the progress of a $1.8 million initiative designed to connect the country's small and medium-sized enterprises with diaspora and angel investors through an equity crowdfunding platform, a model that backers say could help unlock a financing gap that has long constrained the growth of Ethiopian entrepreneurship.
The visit centred on the Ignite, Financing the Missing Middle Project, supported by the Fund for African Private Sector Assistance (FAPA), a Japan-funded facility managed by the African Development Bank that promotes private sector development, technical assistance, and capacity building across the continent.
According to information published on the African Development Bank's website, the initiative includes nearly one million US dollars in FAPA grant support and is being implemented by Ignite Capital, a woman-owned SME, through an equity crowdfunding platform specifically designed for Ethiopian businesses that struggle to access traditional bank financing or attract smaller-scale equity investment.
The term "missing middle" refers to a well-documented gap in development finance, businesses too large for microfinance but too small or too early-stage for commercial bank loans or institutional private equity. In Ethiopia, where the financial sector remains dominated by state-owned banks and regulatory frameworks governing alternative financing are still maturing, this gap has historically left a large segment of growth-oriented SMEs without viable capital options.
The Ignite platform attempts to bridge this divide by creating a structured channel through which local entrepreneurs can raise equity from diaspora investors and angel investors, sources of capital that have remained largely untapped within a formal framework.
During the field mission, African Development Bank and Japanese government representatives met with Ignite Capital and visited two beneficiary companies, Kabana Leather, operating in Ethiopia's leather manufacturing sector, and Inter Ethiopia, which works in electronic waste management.
The selection of these two firms is instructive, leather is one of Ethiopia's most established export industries, while e-waste management represents an emerging sector with significant environmental and economic relevance as urban technology consumption grows.
African Development Bank representatives, according to the published account of the visit, highlighted the project's potential to transform local enterprises into bankable businesses capable of attracting future rounds of investment beyond the crowdfunding platform itself.
The broader FAPA programme, within which the Ignite project sits, has provided more than $86 million in support to 111 projects across 51 African countries since its establishment, according to the African Development Bank. Its mandate spans business environment reform, financial systems strengthening, trade expansion, and the growth of micro, small, and medium-sized enterprises.
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| 11 | South African Conservation Centre Pledges to Extract 100,000 Litres of Waste from Lake Tana as Blue Nile Source Turns Green
#EBR_News Jun 23, 2026
A South Africa-based conservation organisation has announced a commitment to fund the removal of 100,000 litres of plastic waste and waterborne debris from Lake Tana, Ethiopia's largest lake and the source of the Blue Nile, as mounting environmental pressures including toxic algal blooms, an unchecked invasive weed, and decades of untreated sewage push one of Africa's most ecologically and culturally significant water bodies toward a point of irreversible degradation.
The Saad Kassis-Mohamed Center, an initiative of the WeCare Foundation based in Cape Town, made the announcement on World Ocean Day 2026, framing the Lake Tana commitment as part of a broader one-million-litre global plastic removal campaign.
According to the press release issued by the Centre, Lake Tana accounts for approximately 50 per cent of all inland water in Ethiopia and supplies roughly 85 per cent of the Nile's total water volume through the Blue Nile.
Designated a UNESCO Biosphere Reserve in 2015 and encompassing 695,885 hectares, the lake is home to 67 fish species approximately 70 per cent of which are endemic and exist nowhere else on earth as well as 217 bird species and populations of hippopotamus.
The ecological alarm is no longer theoretical. Satellite imagery acquired by an International Space Station astronaut and published in November 2025 showed large sections of the lake's surface shifting from crystal blue to toxic green.
The press release attributes this deterioration to a convergence of pressures: water hyacinth, an invasive aquatic plant that has spread progressively since 2011 across the lake's shoreline, river mouths, and wetlands; untreated wastewater from Bahir Dar a city of approximately 350,000 people at the lake's southern edge flowing directly into the lake and fuelling algal bloom formation; and plastic waste accumulating in hyacinth mats and along island shorelines.
Research published in Sustainable Water Resources Management in 2024 confirmed that human activities within the Lake Tana watershed have pushed the lake toward a eutrophic state, a condition in which excess nutrients deprive water of oxygen and collapse aquatic ecosystems.
Approximately 40,000 people across the watershed depend on Lake Tana for their livelihoods, including fishers, processors, traders, gillnet makers, and boat builders. The press release notes that nearly 90 percent of herders surveyed reported difficulty watering livestock due to weed blockage, and more than 70 per cent of households were unable to access the lakeshore for washing during peak infestation seasons.
The cultural dimension of the lake's deterioration adds urgency to what might otherwise be framed as a purely environmental story. Twenty-seven of the lake's 37 islands are home to ancient monasteries and churches dating from the 13th century, making Lake Tana the spiritual heartland of Ethiopian Orthodox Christianity.
The press release notes that plastic debris carried by the lake's currents is now accumulating on these island shores. In June 2025, UNESCO and Plastic Odyssey signed a formal partnership to address plastic pollution in UNESCO Biosphere Reserve sites globally, a framework the Centre said its Lake Tana commitment is designed to support.
The Centre formally called on the Government of Ethiopia and the Amhara Regional State to mandate and fund adequate wastewater treatment for Bahir Dar and all urban centres within the catchment, and urged UNESCO, UNDP, and international partners to include Lake Tana in any expanded support programme for Biosphere Reserves facing plastic pollution and eutrophication crises.
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| 13 | Ethiopian Airlines Receives a Plane That Can Land Almost Anywhere, Including Water
#EBR_News Jun 22, 2026
Ethiopian Airlines Group has officially taken delivery of its first De Havilland Canada DHC-6 Twin Otter Classic 300-G aircraft, the company announced in a press release issued on 22 June 2026. The new aircraft is a small, rugged turboprop capable of landing on unpaved strips, mountainous airfields and water, a feature set that opens up remote Ethiopian destinations long out of reach for the airline's larger jets.
According to the press release, the aircraft will support Ethiopian Airlines' efforts to expand domestic connectivity and provide access to remote areas and tourism destinations across the country. The aircraft had arrived in Addis Ababa on 20 June following a multi-day ferry flight from De Havilland Canada's Calgary production facility, with the carrier confirming formal receipt only after a period of testing.
The acquisition dates back to a purchase agreement signed at the Paris Air Show in June 2025, when Ethiopian Airlines ordered two Twin Otter Classic 300-G aircraft from De Havilland Canada, according to earlier statements from both companies.
Because the aircraft is a twin-engine turboprop with limited range rather than a jet, the delivery flight required several scheduled stops across the Atlantic and Europe, including Saskatoon, Iqaluit, Reykjavik, Prague and the Greek island of Kos, according to aviation tracking reports cited in earlier coverage of the delivery. A second aircraft of the same type is expected to be delivered later this year, the press release noted.
Commenting on the arrival, Ethiopian Airlines Group CEO Mesfin Tasew said the acquisition would complement the airline's extensive domestic air transport service, noting that the aircraft is configured for multi-purpose missions including charter flights to tourist destinations, airport calibration, aerial surveys, air ambulance work and other essential services, according to the press release.
Mesfin added that promoting tourism and providing essential air services in Ethiopia would remain central to the airline's strategic objectives. Ryan DeBrusk, Vice President of Sales and Marketing at De Havilland Canada, said the company valued the trust Ethiopian Airlines had placed in it, adding that the Twin Otter's reliability and versatility made it well suited to the range of missions the airline plans to undertake across the region, the press release stated.
The Twin Otter Classic 300-G is built for places conventional aircraft cannot reach. It combines proven short takeoff and landing (STOL) performance the ability to use runways far too short or rough for regional jets with a modern Garmin G1000 flight deck, lightweight cabin seats, enhanced electrical systems and upgraded cockpit ergonomics, according to the press release.
The version delivered to Ethiopian Airlines is fitted with amphibious gear, meaning it can land on water as well as land, a capability with direct relevance to Ethiopia's Rift Valley lakes region, according to earlier statements from De Havilland Canada. More than 600 Twin Otters have been delivered worldwide, making it a long-standing benchmark aircraft in the utility aviation sector, the manufacturer has said.
The aircraft can be configured for both passenger and cargo operations, supporting humanitarian and medical missions alongside commercial services, according to the press release and earlier statements from the manufacturer. Ethiopian Airlines operates a fleet of more than 170 aircraft and serves over 160 domestic and international destinations across five continents, according to the company.
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| 15 | EIH Says Its Enterprises Created 101,862 Jobs in Nine Months, Also Reports 277.5 Billion Br Tax Contribution
#EBR_News June 22, 2026
Ethiopian Investment Holdings (EIH) says enterprises under its management created more than 101,800 new jobs and contributed 277.49 billion Birr in taxes and duties during the first nine months of the current fiscal year, underscoring the growing role of state-owned enterprises in supporting government revenues and employment,according to paraments social media post.
The figures were presented by EIH Chief Executive Officer Brook Taye (PhD) during a performance review conducted by the House of Peoples' Representatives Standing Committee on Public Development Enterprises Affairs. According to Brook, the institution achieved 124% of its employment target by creating 101,862 jobs during the period.
The CEO also reported that enterprises under EIH exceeded their tax collection target, achieving 111% of plan. He noted that 22 companies within the holding were recognised by the Ministry of Revenues for their tax compliance, reflecting improvements in financial transparency and corporate governance.
During the review session, Standing Committee Chairperson Meles Mena said public development enterprises have undergone a significant transformation in recent years, shifting from institutions dependent on government support to businesses increasingly focused on profitability and operational efficiency.
He noted that state-owned enterprises are expected to contribute more than half a trillion Birr toward the national budget during the current fiscal year.
Meles also highlighted EIH's efforts to strengthen financial accountability across its portfolio, stating that the holding had undertaken comprehensive audits that uncovered previously hidden documents and irregular practices within some enterprises. He described the initiative as an important step toward improving transparency in the public sector.
According to Parliament, the review forms part of ongoing oversight of EIH, which manages some of Ethiopia's largest state-owned enterprises and plays a central role in the government's Homegrown Economic Reform programme.
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| 17 | Ethiopia and PSI Launch Mastercard-Backed Three-Year Programme to Create Jobs and Skills for 270,000 Youth
#EBR_News Jun 22, 2026
The Ministry of Labor and Skills has signed an agreement with Population Services International Ethiopia the local arm of the Washington-based global nonprofit PSI to launch a three-year employment and skills development programme targeting 270,000 citizens, according to a statement published on the ministry's official social media page.
The programme, titled "Step Up to Dignified and Fulfilling Work," is financed by the Mastercard Foundation and focuses specifically on youth aged 15 to 35 in areas with infrastructure challenges, where access to financial services, formal education, and employment opportunities has historically been limited.
According to the ministry's statement, the programme was developed through a co-creation process between the Federal Ministry of Labor and Skills and PSI Ethiopia, and is designed to attack youth unemployment through three connected streams of intervention.
Of the 270,000 people expected to be reached, 32,000 will receive direct support to strengthen their financial capacity, 24,000 will be enabled to create their own jobs through self-employment pathways, and the programme additionally targets the creation of more than 4,000 new enterprises over its three-year lifespan.
The ministry described the initiative's primary objective as accelerating poverty reduction by making financial services more accessible while expanding education, skills, and job opportunities for young Ethiopians.
State Minister for the Technical and Vocational Sector at the Ministry of Labor and Skills, Teshale Berecha (PhD), was quoted in the ministry's statement as saying that the missions the ministry executes to ensure the economic benefit of citizens heavily require the concerted efforts of stakeholders, and that the ministry is undertaking multifaceted activities in partnership through memoranda of understanding with various institutions.
The signing ceremony marked the formal launch of what the ministry described as a long-term partnership expected to secure sustainable and reliable job opportunities for targeted segments of society before the project period concludes.
PSI,formally known as Population Services International is a global nonprofit organisation founded in 1970 and operating across more than 40 countries, primarily in health-related programming covering reproductive health, HIV, malaria, and child survival.
The government's technical and vocational education and training system has expanded significantly over the past decade, but gaps in quality, relevance, and linkage to actual employer demand have limited its impact on employment outcomes, particularly in secondary towns and rural areas with weak private sector presence.
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| 19 | Spiro Closes Funding Round at $270 Million After Fresh $55 Million Injection From Chinese Investor
#EBR_News Jun 22, 2026
Africa's largest electric mobility platform Spiro has closed its latest funding round at $270 million following a fresh $55 million investment from NewTrails Capital, a Chinese growth-stage fund focused on emerging markets, according to a press release distributed on 22 June 2026.
The new injection pushes the total round beyond the $215 million figure reported by Spiro earlier this month, positioning Spiro among the most heavily backed electric mobility and energy infrastructure companies on the African continent and signalling growing appetite among global and increasingly Chinese investors for scalable EV platforms in Africa.
According to the press release, NewTrails Capital is a Shanghai and Shenzhen-based fund that focuses on emerging markets across Africa, the Middle East, Southeast Asia, and Latin America, and aligns its investment strategy with green technology and energy transitions.
The fund's founding partner Yufan Zhang was quoted in the press release as describing Spiro as driving a profound energy revolution across mobility use cases in Africa, and cited the company's localised operating capabilities, vertically integrated supply chain, digitally enabled ecosystem, and ability to scale rapidly as its core strengths.
Zhang added that Spiro has systematically integrated vehicles, batteries, energy replenishment, payments, and service networks into a solution tailored to African users, effectively addressing what he described as long-standing structural pain points in the local market.
The broader investor consortium behind Spiro now includes Impact Fund Denmark, Equitane, the French development finance institution FEDA, Nithio, and the Africa Go Green Fund, alongside the newly added NewTrails Capital, according to the press release.
Spiro founder Gagan Gupta was quoted as saying the company has firmly moved past the proof-of-concept phase, having deployed 100,000 electric vehicles and 2,500 smart-swap stations across seven active markets, and described the partnership with NewTrails Capital as marking a powerful new chapter as Spiro prepares for the next steps of its pan-African and international expansion.
The press release says the new capital will be used in part to support Spiro's manufacturing and supply chain localisation efforts on the continent, particularly with Chinese suppliers.
As EBR reported on 2 June 2026, Spiro currently operates across Kenya, Rwanda, Uganda, Togo, Benin, Nigeria, and Cameroon, with more than 30 million battery swaps completed to date.
The company has manufacturing plants in Kenya, Rwanda, and Uganda, as well as a battery recycling facility in Nigeria, and has said it intends to enter Ethiopia and the Democratic Republic of Congo in the coming phase of expansion.
The closing of Spiro's round at $270 million carries a broader signal for Africa's electric mobility sector. The participation of a Chinese growth fund is notable: NewTrails Capital's involvement reflects the growing role of Chinese capital and supply chains in Africa's energy transition, a dynamic that Zhang acknowledged directly in his quoted remarks.
With $270 million now secured, a manufacturing localisation push under way, and Chinese supply chain partnerships being formalised, Spiro enters the second half of 2026 as the best-capitalised electric mobility platform on the continent and one whose next moves, including a long-anticipated entry into Ethiopia, will be closely watched by investors, competitors, and policymakers across Africa.
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