Ethiopian Business Review
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EBR is an expertly and independently written, masterfully designed, and well-circulated magazine.
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Kanal postlari
Namibia Confirms Talks With Ethiopian Airlines on New National Carrier, Calls Discussions Exploratory
#EBR_News Sep 3, 2026
Namibia's Ministry of Works and Transport has confirmed it is holding ongoing discussions with Ethiopian Airlines and consulting local aviation operators on the establishment of a proposed new national carrier, Namibia Air, but stressed that the talks remain analytical and that no binding commitments have been made with any party at this stage, ch-aviation reported.
According to ch-aviation, the ministry's statement rejected as unauthorized an internal briefing document published by the Windhoek Observer newspaper, saying it did not recognize the document as an official or accurate reflection of the government's work, deliberations, or policy.
The ministry described any suggestion that the document represented concluded government decisions or agreements as "misleading and without foundation."
Ch-aviation reported that the ministry said consultations with Ethiopian Airlines form part of a broader process to evaluate the most viable and sustainable model for launching Namibia Air, with any decisions to be based on technical, financial, and commercial assessments.
The government said the process is intended to avoid the mistakes that led to the collapse of former flag carrier Air Namibia.The ministry's response followed a Windhoek Observer report on meetings held in Addis Ababa on August 21 and 22, 2026, between a Namibian delegation and Ethiopian Airlines.
According to ch-aviation's account of that report, Ethiopian Airlines proposed an ATR72-600-based operating model along with technical assistance, training, maintenance support, aircraft sourcing assistance, and a possible management contract.
The report said Ethiopian Airlines was not prepared to commit to an equity investment at this stage, citing the need for a commercially viable business plan, and indicated that any future equity partnership would require management control, including key executive positions.
Ch-aviation noted that Ethiopian Airlines already operates several joint ventures across Africa, including ASKY Airlines in Togo, Air Congo in the Democratic Republic of Congo, Malawian Airlines, and Zambia Airways.
Ethiopian Mozambique Airlines ceased operations in 2021 after the COVID-19 pandemic reduced demand, while a joint venture with the Nigerian government, Nigeria Air, was abandoned in 2023, and talks with South Africa and Ghana never progressed further.
Separately, ch-aviation reported that Namibia Air reached a regulatory milestone in August 2026 after receiving scheduled and non-scheduled air service licences from Namibia's Transportation Commission, clearing the way to acquire aircraft ahead of a planned commercial launch in December 2026.
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| 2 |  Matn yo'q... | 524 |
| 3 | Ethio Telecom Targets 295 Billion Birr in Revenue This Fiscal Year
#EBR_News sep 3, 2026
Ethio Telecom is targeting ETB 295 billion in revenue in the 2026/27 fiscal year, a 36.7 percent increase from the previous year, as it enters the second year of its three-year “Next Horizon: Digital & Beyond 2028” strategy.
Digital and adjacent businesses are expected to generate ETB 77.45 billion, accounting for 26.3 percent of total revenue. The company is also targeting ETB 154.4 billion in EBITDA, representing a margin of around 52 percent, and operating profit of about ETB 127 billion.
International business, infrastructure sharing and international money transfer services are expected to generate USD 253.7 million in foreign currency earnings. The company also plans to secure ETB 10.87 billion in efficiency gains through cost savings and revenue enhancement.
Ethio telecom expects its total customer base to reach 96.2 million, while mobile data users are projected to rise 16.5 percent to 60.01 million. Fixed broadband customers are expected to increase 25.6 percent to 1.26 million.
Its digital financial service, telebirr, is projected to reach 67.69 million active users, with transactions expected to reach 4.99 billion, valued at ETB 7.4 trillion. Microcredit disbursements are targeted to rise to ETB 33.08 billion, while digital savings are expected to reach ETB 26.42 billion.
The plan also targets expanded network coverage, including 11,014 4G sites and 648 5G sites, while extending the national fiber backbone to 25,642 kilometres.
The company expects to contribute ETB 43.1 billion in dividends and ETB 83.8 billion in direct and indirect taxes to the government.
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| 4 |  Matn yo'q... | 615 |
| 5 |  With Unyielding Resilience, to a Greater Chapter!
Tested, yet carrying an undefeated dream, we have journeyed through five years of diligence, faith, and success. Today, we press forward into a new chapter with even greater capability.
Built on the trust of our customers, the dedication of our staff, and the collective commitment of our partners, we will sustain this journey toward greater success and sustainable growth.
Zamzam Bank
An Inexhaustible Source of Growth! | 673 |
| 6 | Kenya Orders Foreign Small Traders and Hawkers to Shut Down From September 7
#EBR_News Sep 3, 2026
Kenyan President William Ruto has directed the government to begin a crackdown on foreign nationals operating small businesses and hawking in the country, with enforcement set to start on Monday, September 7, Kenyans co ke reported.
Ruto issued the directive while addressing Micro, Small and Medium Enterprise traders at State House, Nairobi, on Wednesday.
"From next week, all traders doing those small businesses should close them," Ruto said, as reported by the country's media outlet,Kenyans co ke.
The president argued that small-scale trade and hawking should be reserved for Kenyan citizens, and that improvements to the country's economy were not intended to attract foreign hawkers.
Kenyans co ke reported that Ruto also called for the acceleration of the Local Content Bill, 2025, which proposes to reserve certain businesses exclusively for Kenyan citizens by law.
The bill would require foreign firms to ensure at least 80 percent of their workforce, including senior management and chief executive positions, are Kenyan citizens, and to procure at least 60 per cent of their goods and services locally.
For agriculture-related manufacturing, the bill requires companies to source all their agricultural produce locally, while the 60 per cent local content threshold would also apply to financial, insurance, construction, transport, warehousing, logistics, and security services.
According to another report, Ruto directed Trade Cabinet Secretary Lee Kinyanjui to begin the enforcement exercise upon his return from Addis Ababa, where he had been attending a regional trade meeting, and asked National Assembly Majority Leader Kimani Ichung'wah to support the bill's passage through Parliament
TUKO reported that the Local Content Bill, 2025, is sponsored by Laikipia Woman Representative Jane Kagiri. "Starting Monday, September 7, all foreigners engaging in small businesses should either close," Ruto said, as quoted by TUKO.
The president specifically cited hawking and small retail shops, including the sale of items such as duvets, as businesses that should be reserved for Kenyans.
The government said it remains open to foreign investment directed toward job creation and production, and is separately considering amendments to the Public Procurement Act to strengthen local participation in the economy.
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| 7 |  Matn yo'q... | 617 |
| 8 | Ethiopia to Establish First Mortgage Refinance Company, Capitalized at 100 Billion Birr
#EBR_News Sep 3, 2026
Ethiopia has signed a landmark Framework for Cooperation between the National Bank of Ethiopia and the International Finance Corporation to establish the country's first dedicated Mortgage Refinance Company, Prime Minister Abiy Ahmed (PhD) said in a post on X. Abiy said he oversaw the signing.
The agreement was signed by National Bank of Ethiopia Governor Eyob Tekalign and Ethiopis Tafara, IFC Vice President for Africa.
According to Abiy, the new wholesale institution will be capitalized at 100 billion birr, with the IFC set to contribute a minimum of $200 million. He said the institution is designed to resolve long-standing liquidity mismatches in Ethiopia's banking sector and unlock accessible mortgage financing across the country.
Abiy described the partnership as a critical step toward the government's goal of delivering 1.5 million affordable, dignified homes for Ethiopian families, while also expanding private-sector participation in the country's financial system.
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| 9 |  Matn yo'q... | 751 |
| 10 | ApexBrasil Opens First Africa Office in Ethiopia as Bilateral Trade Rebounds to 25 Billion Dollars
#EBR_News Sep 2, 2026
The Brazilian Trade and Investment Promotion Agency (ApexBrasil) inaugurated its first permanent office in Africa in Addis Ababa on Tuesday, making Ethiopia as Brazil's institutional entry point into the continent after years of declining trade between the two sides.
The Addis Ababa opening capped a weeklong Southern Africa business mission that began on 26 August 2026 in Johannesburg, South Africa, and continued through Lusaka, Zambia, and Maputo, Mozambique, where Brazil served as Guest Country of Honour at the Maputo International Fair, according to Brasil 247. The Ethiopia leg was the mission's final and only stop outside Southern Africa, and the one where ApexBrasil formally opened its new office.
The office follows a proposal from the Ethiopian Investment Commission after ApexBrasil led its largest ever business mission to Ethiopia in February 2026, according to Meles Alem, director general for European and American affairs at Ethiopia's Ministry of Foreign Affairs. That mission brought more than 70 Brazilian delegates to Addis Ababa, produced over 300 business-to-business meetings, and resulted in memoranda of understanding, including one between Ethiopia's Kerchanshe Group and Brazil's agricultural research corporation, Embrapa, Meles said.
The inauguration builds on recent diplomatic momentum. President Luiz Inácio Lula da Silva of Brazil visited Ethiopia in 2024, while Prime Minister Abiy Ahmed (PhD) visited Brazil the following year, with the two leaders agreeing to deepen economic ties at the Rio Summit in July 2025, Meles said. Ethiopia and Brazil are marking 75 years of diplomatic relations this year, and both countries are members of the BRICS bloc.
Laudemir Müller, president of ApexBrasil, said Brazil's trade with Africa had grown from around five billion dollars in 2002 to 28 billion dollars in 2013, before falling to a low of 11.5 billion dollars in 2020. Trade has since recovered to 25 billion dollars in 2025, Müller said, adding that Ethiopia was selected for the agency's first African office partly because its economy is projected to grow nine percent this year and its imports already exceed 23 billion dollars.
Ethiopian Investment Commissioner Zeleke Temesgen (PhD) said the office arrives as Ethiopia carries out reforms under its Homegrown Economic Reform Agenda, including a market-determined exchange rate, a modernised monetary framework and steps to strengthen financial sector resilience.
Zeleke said these measures had contributed to declining inflation, expanding foreign exchange availability and rising investor confidence, and noted Ethiopia's recent accession to the New Development Bank as a further source of financing for large scale investment.
Meles said Ethiopia's position as a diplomatic and aviation hub, supported by Ethiopian Airlines' daily direct flight to São Paulo, gave Brazilian companies unmatched access to the continent, while the country's membership of the African Continental Free Trade Area opens a market of over 1.4 billion consumers.
The office is expected to focus on sectors including agriculture, agroprocessing, pharmaceuticals, textiles, mining and renewable energy, according to the Ethiopian Investment Commission.
Müller said the new office would allow ApexBrasil to pursue opportunities in Ethiopia and the wider East African market on a continuous basis rather than through periodic missions, describing permanence as a way to carry relationships and projects through from start to finish.
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| 11 |  Matn yo'q... | 813 |
| 12 | ILO Skills Programmes Reach Over 250,000 People Across 30 African Countries
#EBR_News Sep 2, 2026
ILO-supported skills and lifelong learning initiatives reached more than 250,000 people across 30 African countries in 2024–25, with twelve countries updating their skills or TVET policies and then advancing apprenticeship reforms, according to the International Labour Organization.
The figures were disclosed during the Conference on Accelerating Domestication of the Continental TVET Strategy 2025–2034, held from 17 to 21 August 2026 at the African Union Headquarters in Addis Ababa.
According to the ILO, the conference brought together governments, TVET authorities, social partners, development partners, and training institutions to move the African Union's Continental TVET Strategy from continental policy commitments toward national-level implementation.
The ILO said it has provided technical support throughout the development of the strategy and is contributing to its implementation through policy and governance reform, quality apprenticeships, recognition of prior learning, green and core skills, labour market information, and institutional capacity building.
Twaha Adam Twaha of Tanzania's National Council for Technical and Vocational Education and Training said the ILO's support has been critical in translating the Continental TVET Strategy into practical national reforms.
He said Tanzania sees further ILO support as important for quality assurance, recognition of prior learning, and certification, particularly for workers who acquired skills in the informal economy, and described the ILO as a potential "bridge between policy and practice" as countries develop implementation roadmaps.
In Malawi, a participant said the ILO has been a key actor in championing recognition of prior learning and the Decent Work Agenda. According to the ILO, its support is also contributing to the development of Malawi's Labour Market Information System, which is designed to centralise labour market statistics for evidence-based policymaking.
More than 200 national labour market indicators covering employment, unemployment, wages, education, and skills are being developed and populated with verified national data as part of that system.
A delegate from the Sub-Saharan Africa Skills and Apprenticeship Stakeholders Network described ILO support as "strategic and transformative," citing its work on policy and governance reform, financing, quality apprenticeships, work-based learning, green and core skills, and labour market information systems.
The ILO said its skills programmes across Africa contribute to all four areas, and that the current challenge is translating the strategy into effective implementation, converting commitments into sustained investment, and turning fragmented interventions into coherent national and continental systems.
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| 13 |  Matn yo'q... | 844 |
| 14 | Ethiopian Commodity Exchange Trades 48.83 Billion Birr in Commodities in 2025/26, Beating Target by 167.8%
#EBR_News Sep 2, 2026
The Ethiopian Commodity Exchange, an institution accountable to the Ministry of Trade and Regional Integration, announced that it traded commodities worth 48.83 billion birr during the 2025/26 budget year, achieving 167.8 per cent of its annual target, according to a statement on the Ministry of Trade and Regional Integration's social media page.
According to the statement, ECX had planned to trade export commodities worth 29.1 billion birr during the budget year but exceeded that target substantially.
The 48.83 billion birr figure represents an increase of 21.63 billion birr, or 79 per cent, compared to the same period in the 2024/25 budget year.
The statement said that over the past 12 months, the exchange issued quality assurance certificates for 8,499 coffee samples and 5,828 oilseed and pulse samples, totalling 14,327 samples.
It also conducted quality inspections and issued grade certification for 2,314 vehicles carrying 38,710 tons of commodities for cooperative unions and direct market linkage participants trading outside the exchange floor.
Weighing services were provided for 17,648 vehicles loaded with 695,073 tons of commodities during the budget year, according to the statement.
The statement also said that ECX finalized the preparation of product quality grading contracts to introduce three new commodities, opal, cotton, and hides and skins, into its trading system, as part of efforts to expand the range of commodities incorporated into the exchange.
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| 15 |  Matn yo'q... | 817 |
| 16 | Kenya's GDC to Provide Geothermal Well Logging Services for Ethiopian Drilling Project in Aluto
#EBR_News Sep 2, 2026
Kenya's state-owned Geothermal Development Company has signed an agreement with Shandong Kerui Oilfield Service Group to provide well logging and testing services for a geothermal drilling project in Ethiopia, according to a statement from GDC. The agreement was signed on Monday, August 31, 2026.
According to GDC, the contract will see the company deploy a multidisciplinary team comprising a reservoir engineer, reservoir technicians, geochemists, and geochemical technicians to provide specialised personnel and technical expertise in high-temperature geothermal well logging, testing, and data interpretation for two wells in the Aluto area of Ethiopia.
GDC Acting Managing Director and CEO Stephen Busieney, who signed the contract, described the agreement in a news release as an important milestone in the company's commercialization journey. "It is encouraging that we are signing one of our first major contracts of the financial year," Busieney said, according to the statement.
"This engagement will generate additional revenue for GDC while providing our staff with valuable exposure to an international geothermal project. It also presents an opportunity for us to further cement GDC's position as a leader in geothermal development and technical expertise across the region and the continent."
Dr George Muia, GDC's General Manager for Business Development and Acting General Manager for Strategy and Planning, said in a press release that the agreement represents the first major operationalization of the company's External Consultancy Policy a framework for engaging external partners and clients for GDC's technical expertise and the culmination of a process that began in September 2025.
He said the contract carries particular significance following GDC's reclassification as a Government-Owned Enterprise, which places greater emphasis on commercial operations, revenue generation, and financial sustainability. "As a GOE, GDC is required to operate commercially and generate revenue.
This is the first contract we are undertaking in line with this new direction," Muia said, adding that the company is actively seeking more partners and opportunities to strengthen its regional footprint.
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| 18 | #BREAKING
Kenya Airways CEO George Kamal Resigns, Lawyer Habil Waswani Named Acting Chief
#EBR_News Sep 1, 2026
Kenya Airways has announced the resignation of its Acting Group Managing Director and Chief Executive Officer George Kamal for personal reasons, with the airline's board appointing Habil Waswani currently the company's Secretary and Director of Legal Services as Acting GMD/CEO effective September 15, 2026.
The changes were confirmed in a letter to staff from Kenya Airways Board Chairman Kiprono Kittony dated September 1, 2026, and in a statement by the airline.
According to the airline's statement, Kamal joined Kenya Airways in March 2023 as Chief Operating Officer, a role he held for three years before being elevated to Acting GMD/CEO on December 16, 2025. His total tenure at the airline spans four years.
Kamal will remain at the airline for a 30-day transition period before formally exiting on September 30, 2026. The board said he played a key role in stabilizing the airline's operations and guiding the company through its most recent executive leadership transition.
Waswani, who succeeds Kamal on an acting basis, brings more than 24 years of corporate and commercial legal experience and over five years of service at the airline. He holds a Bachelor of Laws from the University of Nairobi, a Diploma in Law from the Kenya School of Law, and a Global Executive MBA from the United States International University in collaboration with Columbia Business School in New York.
He is a Certified Public Secretary and a member of the Law Society of Kenya, the Institute of Certified Secretaries of Kenya, and the Institute of Directors of Kenya, and has been recognized in the Legal 500 GC Power list East Africa Awards since 2004, according to the airline.
In his letter to staff, Kittony said the board has already initiated a competitive recruitment process for a substantive GMD/CEO, which it expects to conclude in the near term. He added that the board remains focused on executing the airline's turnaround strategy, centred on operational reliability, network and fleet optimization, sustainability, growth, and the identification of a suitable strategic investor.
The leadership change marks Kenya Airways' second CEO transition in less than a year, following Kamal's own appointment as acting chief in December 2025 after the departure of Allan Kilavuka, who had led the airline for six years.
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| 19 |  Matn yo'q... | 1 084 |
| 20 | Heineken Ethiopia Invests More Than $1.16 Billion Over 15 Years as Local Barley Sourcing Hits 100%
#EBR_News Sep 1, 2026
Heineken Ethiopia has invested more than $1.16 billion in the country over the past 15 years, the company disclosed at its 15th anniversary celebration held in Addis Ababa under the theme "15 Years, Growing with Ethiopia" marking one of the largest sustained manufacturing investments by a multinational consumer goods company in Ethiopia's recent history.
Bart De Keninck, Managing Director of Heineken Ethiopia, said the scale of investment reflects the company's long-term confidence in Ethiopia's market and its commitment to building locally integrated operations. "Every lasting journey begins with belief. Fifteen years ago, HEINEKEN believed in Ethiopia, its people, its potential, and its future," De Keninck said. "What followed was built together with farmers, employees, suppliers, customers, distributors, communities, government institutions, and development partners."
Since entering Ethiopia in 2011, Heineken has expanded its brewing footprint through the Harar and Bedele breweries and its Kilinto facility in Addis Ababa. The company now employs more than 2,500 people directly and serves over 100,000 customers across the country through its distribution network.
One of the most significant operational milestones in the 15-year period has been the localisation of raw material sourcing. Heineken said it began working with Ethiopian barley farmers in 2011 and achieved 100 per cent local barley sourcing by 2023, fully replacing imported barley with domestically grown supplies. The shift has deepened the brewer's integration into Ethiopia's agricultural supply chain and reduced its exposure to import costs and foreign exchange pressures.
The company's local brand portfolio currently includes Heineken, Harar, Desperados, Bedele Special, Bedele Regular, Walia, Sofi Malt, and Buckler, a range that spans premium international and local mainstream segments and reflects the breadth of its production capacity across its three brewing facilities.
The 15-year milestone comes as multinational manufacturers in Ethiopia continue to navigate a business environment shaped by foreign exchange shortages, rising production costs, and increasing pressure to deepen local sourcing.
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