Economy - ENA English
Economy
Guterres Calls on All Stakeholders to "Turn Tide" on Africa's Challenges
Apr 28, 2026 476
Addis Ababa, April 28, 2026 — United Nations Secretary-General António Guterres has urged all stakeholders across the globe to unite in decisive action, invoking the rallying call "Together, Let Us Turn the Tide for Africa and Our World", to combat the pressing challenges of the continent. The Twelfth Session of the Africa Regional Forum on Sustainable Development began in Addis Ababa today, bringing together African ministers, policymakers, and global partners. In his video message, the Secretary-General noted that countries across Africa are facing numerous obstacles to development. He said "conflicts and climate chaos are blocking progress across all sectors, and Africa now faces an annual development financing gap of up to 1.6 trillion US dollars. This is aggravated by the debt crisis." Some nations provide interest rates up to three times benchmark levels, squeezing funds for vital investments, Guterres added. With optimism and resolve, however, he declared "that we can turn the tide by investing in integrated solutions where clean energy drives industry, infrastructure enables trade, and technology powers jobs." The Secretary-General also called for building global solidarity to finance development and ensure Africa's strongest possible participation across global financial institutions corresponding to the realities of today's economy. He further urged massive investment in Africa's electrification and the just transition to renewable energy. “Together, let us turn the tide for Africa and our world," Guterres stressed. Among topics to be discussed by the high-level forum is unlocking finance for climate resilience and sustainable development in Africa, building on the outcomes of the Fourth International Conference on Financing for Development and the thirtieth session of the Conference of the Parties to the United Nations Framework Convention on Climate Change. Twelfth Session of the Africa Regional Forum on Sustainable Development held under the theme "Turning the Tide: Transformative and Coordinated Actions for the 2030 Agenda and Agenda 2063" will conclude on April 30, 2026.
UNECA Chief Praises Ethiopia’s Climate Action, Urges Stronger Efforts Across Africa
Apr 28, 2026 370
United Nations Economic Commission for Africa Executive Secretary Claver Gatete has lauded Ethiopia’s leadership and ambitious climate actions, highlighting the country as a model for sustainable development across Africa. Speaking at the Twelfth Session of the Africa Regional Forum on Sustainable Development 2026 in Addis Ababa, Gatete commended the government of Ethiopia and Prime Minister Abiy Ahmed for what he described as bold and model climate initiatives. The forum, organized by UNECA in collaboration with the African Union Commission, the African Development Bank, and other UN partners, is being held under the theme: "Turning the Tide: Transformative and Coordinated Actions for the 2030 Agenda and Agenda 2063." Gatete expressed confidence in Ethiopia’s readiness to host COP32, calling it a “critical moment” for advancing global climate action and multilateral cooperation. He noted that Ethiopia is “uniquely equipped” for the task, citing its track record in sustainable development. A key example is the country’s Green Legacy Initiative, described as one of the largest reforestation efforts in the world. Ethiopia has planted over 48 billion tree seedlings. Gatete noted with surprise that Ethiopia produces over 95 percent of its electricity from renewable energy, an achievement that stands out amid ongoing global energy crises. However, Gatete underscored the urgency of climate challenges across Africa. He pointed out that climate change is already affecting food security, water resources, healthcare systems, infrastructure, and broader economic stability on the continent. "The issues we are discussing this week are directly relevant to COP32," he said, stressing the importance of aligning efforts as countries approach the 2030 deadline for the Sustainable Development Goals and advance the African Union’s Agenda 2063. He called on participants to leverage Ethiopia’s leadership in hosting COP32 to build strong partnerships and accelerate meaningful climate and development action. UNECA, he added, is working closely with the Ethiopian government and the wider UN system to ensure the successful delivery of a high-impact COP32. As Ethiopia prepares to host the global summit in 2027, Gatete concluded that Africa has a unique opportunity to help bridge the gap between climate ambition and real-world development outcomes.
Officials Push for Bold Action on SDGs as Continental Forum Opens in Addis Ababa
Apr 28, 2026 736
Addis Ababa, April 28, 2026 —Leaders and policymakers have called for urgent, transformative action to accelerate Africa’s progress toward the Sustainable Development Goals (SDGs) and Agenda 2063. They have also warned that growing economic, social, and climate pressures risk derailing the continent’s ambitions. The 12th session of the African Regional Forum on Sustainable Development opened in Addis Ababa under the theme: “Turning the Tide: Transformative and Coordinated Actions for the 2030 Agenda and Agenda 2063.” The gathering brought together government officials, development partners, and experts to assess progress and chart a path forward. Speaking at the opening, Claver Gatete, Executive Secretary of the United Nations Economic Commission for Africa (UNECA), highlighted the scale of challenges facing the continent, including slowing economic growth, widening inequalities, climate shocks, and geopolitical tensions. Despite these headwinds, he urged African nations to remain ambitious and embrace innovative, system-wide solutions. “Africa must move from fragmented interventions to integrated strategies that deliver impact at scale,” Gatete said, emphasizing the need for increased investment and stronger regional cooperation. The forum will focus on priority areas such as water and sanitation, energy, infrastructure, sustainable urban development, and partnerships—sectors seen as critical to unlocking inclusive growth. Delivering remarks on behalf of the African Union Commission Chairperson, Deputy Chairperson Selma Malika Haddadi said the forum comes at a decisive moment, with just a few years remaining to meet the 2030 targets. While noting progress in aligning national plans with continental priorities, she pointed to persistent challenges including financing gaps, unemployment, and climate vulnerability. The deputy chairperson reaffirmed the importance of strengthened collaboration between the African Union and the United Nations, particularly in mobilizing resources and enhancing institutional capacity across member states. Also addressing the forum, Lok Bahadur Thapa, President of the United Nations Economic and Social Council, described the current moment as a “critical juncture” for Africa’s development trajectory. He acknowledged the continent’s financing constraints and rising socio-economic pressures but underscored its strong potential, driven by a youthful population, innovation, and regional integration. Thapa called for scaled-up investments in infrastructure, education, and digital access, alongside reinforced multilateral cooperation to sustain development momentum. The forum is expected to serve as a key platform for reviewing progress, sharing best practices, and identifying practical solutions. Participants stressed that discussions must translate into concrete, measurable actions that improve lives across the continent.
Summer Irrigation Farming Accelerates Ethiopia’s Path Toward Food Self-Sufficiency, Says PM Abiy
Apr 28, 2026 702
Addis Ababa, April 28, 2026 —Prime Minister Abiy Ahmed underscored that summer irrigation farming represents a pivotal advancement in Ethiopia’s national endeavor to achieve food self-sufficiency. In a statement shared via social media, the Prime Minister highlighted that the nation's path toward a secure and sustainable future rests upon unwavering commitment and the optimized utilization of water resources. "Summer irrigation farming represents an important step in our journey toward food self-sufficiency. With continued effort, commitment, and better use of our water resources, this path will surely lead us to a more secure and sustainable future where we can feed ourselves reliably.", he stated.
Ethiopia’s WTO Accession Reaches Critical Phase: Minister Kassahun
Apr 27, 2026 1544
Addis Ababa, April 27, 2026 —The ministry of Trade and Regional integration affirmed that Ethiopia Ethiopia’s long-running bid to join the World Trade Organization (WTO) has moved into a decisive stage. Following the 7th Working Party meeting held on April 22 and 23, 2026, in Geneva, Switzerland, the ministry described the outcome as a major milestone in what officials call a 23-year negotiation process. Minister Kassahun Gofe, who led the delegation and serves as chief negotiator, emphasized the discussions marked a significant breakthrough. He further stated that Ethiopia’s negotiations have now entered a “critical stage” and described the outcome as a turning point in the accession process. In a press briefing today, he underscored, “Ethiopia has achieved its best and most successful diplomatic victory ever at the 7th Working Group Meeting held to become a member of the WTO.” He further noted that the country’s accession process is now on a “fast track” that has gained international recognition, adding that recent meetings have accelerated progress compared to previous years. According to the minister, the government’s macroeconomic reform agenda has strengthened Ethiopia’s position in negotiations and helped build confidence among WTO members. He also explained that the 7th Working Party meeting produced a clearer and more advanced stage of discussions, reflecting growing support from member states. Kassahun further stated that Ethiopia’s process is now widely viewed as one of the fastest among recent applicants, crediting the momentum to renewed institutional coordination and consecutive high-level engagements, including the 5th, 6th, and 7th working party meetings within a short period. While acknowledging that a limited number of technical issues remain, he expressed confidence that Ethiopia could complete its accession process by the end of 2026. The 8th Working Party meeting is expected to take place in September 2026, as negotiations continue toward final stages of membership approval.
Ethiopia, Mozambique Strengthen Ties with New Cooperation Agreements
Apr 27, 2026 2422
Addis Ababa, April 27, 2026--Prime Abiy Ahmed on Monday hosted Daniel Francisco Chapo at the National Palace in Addis Ababa, marking the start of a high-level visit aimed at deepening relations between Ethiopia and Mozambique. During the visit, the two leaders held bilateral talks focused on expanding cooperation across strategic sectors. According to the Ethiopian Prime Minister, the discussions were “fruitful” and signaled the beginning of what he described as a long-term and practical partnership. The meeting also saw the signing of several Memoranda of Understanding (MOUs), intended to provide a framework for collaboration in key areas. While specific sectors were not detailed, both sides indicated that the agreements are expected to strengthen economic and diplomatic ties. In messages shared on social media, PM Abiy emphasized Ethiopia’s approach to international partnerships, highlighting mutual respect and long-term impact as guiding principles. He noted that Ethiopia aims to position itself as more than just a partner, but as a country offering sustained opportunities for growth and transformation. President Chapo’s visit comes amid broader efforts by African nations to enhance intra-continental cooperation, in line with ongoing initiatives to boost regional integration and shared economic development. The Ethiopian government expressed optimism that the visit would yield concrete outcomes and lay the groundwork for continued collaboration between the two countries.
Africa Should Shift to Integrated Water Management, Transboundary Cooperation: ECA Executive Secretary
Apr 27, 2026 1926
Addis Ababa, April 27, 2026 —United Nations Under Secretary General and Executive Secretary of the United Nations Economic Commission for Africa (ECA), Claver Gatete, has called for a decisive shift from fragmented water management approaches to integrated planning and stronger transboundary cooperation to secure Africa’s water future. The United Nations ECA, in collaboration with the African Union Commission (AUC), the African Development Bank, and UN system partners, organized the Twelfth Session of the Africa Regional Forum on Sustainable Development (ARFSD 2026). The Forum will take place from 28 to 30 April 2026 at the United Nations Conference Centre, ECA Headquarters, in Addis Ababa, Ethiopia, under the theme: “Turning the Tide: Transformative and Coordinated Actions for the 2030 Agenda and Agenda 2063.” Addressing the pre-session meetings today, Gatete said climate change is making water more unpredictable, scarcer in some places, and more destructive in others. He stressed that water must now be treated not only as a social concern but also as a critical economic and environmental priority. Despite Africa’s vast endowment of water resources, millions across the continent still lack access to even basic drinking water, he said. He further noted that more than 60 percent of Africa’s land falls within transboundary river basins, underscoring the critical need for strengthened cooperation among countries. The executive secretary noted that water remains undervalued in investment planning, with efforts often fragmented and uncoordinated, stressing the need for Africa to speak with one voice, particularly as the African Union has declared 2026 the Year of Water. He outlined key priorities to guide collective action, including recognizing water as a pillar of economic infrastructure, shifting from fragmented approaches to integrated planning, and strengthening transboundary cooperation. African Union Commission Commissioner for Agriculture, Rural Development, Blue Economy, and Sustainable Environment, Moses Vilakati, said the African Union has taken a historic step by declaring 2026 as the Year of Assuring Sustainable Water Availability and Safe Sanitation Systems. He stated that the commitment signals a shift, placing water from the margins of technical discussions to the center of Africa’s political and economic agenda. The commissioner noted that the continent’s challenges are intensifying under climate change, with recurring droughts and devastating floods disrupting hydrological cycles, adding that prioritizing water in 2026 positions it as a key instrument for building climate resilience. He emphasized the need to systematically integrate climate resilience, disaster risk reduction, and ecosystem protection into water strategies, stressing that equity and universal access must guide all water and sanitation policies. The commissioner underscored that transboundary water cooperation remains a continental priority, noting that Africa’s shared rivers, lakes, and aquifers require strong coordination at the governance level. The Africa Regional Forum on Sustainable Development 2026 will bring together African ministers, senior government officials, policymakers, experts, civil society, youth representatives, academia, the private sector, and development partners to review progress on selected Sustainable Development Goals and advance coordinated actions to accelerate sustainable development across the continent.
CIF Global Knowledge Exchange Opens in Addis Ababa
Apr 27, 2026 1278
Addis Ababa, April 27, 2026 — Addis Ababa has emerged as a hub for global climate finance dialogue following the launch of the Global Knowledge Exchange by Climate Investment Funds, bringing together policymakers, development partners and private sector actors to advance country led climate investment. According to Ministry of Finance, the four day forum, organized in partnership with the Government of Ethiopia, the African Development Bank Group and the World Bank Group, has drawn more than 150 participants from 27 countries and will run through April 30. Opening the event, Finance Minister Ahmed Shide highlighted the importance of hosting the gathering, stating "Hosting the event is meaningful for Ethiopia as the country has long placed climate action at the center of its development vision. Through our climate resilient green economy approach, we are pursuing a development pathway that is green, inclusive and resilient". A major highlight of the opening session was the launch of the Accelerating Resilience Investments and Innovations for Sustainable Economies initiative, a new investment program designed to scale up climate resilience financing. The initiative will provide between 30 and 40 million dollars per country, while regional programs can access up to 50 million dollars, targeting up to five countries or regions. The program aims to transform climate risks into investment opportunities while integrating resilience into national development strategies. Ethiopia’s ongoing engagement with CIF includes nearly 90 million dollars in climate related investments supporting clean energy access and nature-based solutions. Ahmed Shide also pointed to Ethiopia’s broader climate agenda, noting "Ethiopia is proud to prepare to host COP32, an opportunity to bring the world to Africa and to place Africa at the heart of global climate action. Our priorities are clear: stronger adaptation finance, greater investment in resilience, accelerated energy access, nature based solutions, and a climate finance architecture that responds to the needs of developing countries". Chief Executive Officer of CIF Tariye Gbadegesin emphasized the urgency of scaling up resilience financing, warning "Resilience investments keep farmers harvesting, businesses open, jobs intact, and services running when shocks hit". The forum is also serving as a platform for knowledge exchange among developing countries, with Ethiopia showcasing its experience in renewable energy expansion, landscape restoration and climate resilient agriculture. Reaffirming Ethiopia’s commitment, Ahmed Shide said "We remain determined to work with all partners to turn climate ambition into investment, and investment into lasting impact for our people and our planet". The Climate Investment Funds, with more than 13 billion dollars in resources, supports developing countries in advancing sustainable growth through financing clean energy transitions, resilience building and low carbon development pathways.
African Nations Urged to Harness Critical Minerals for Green Industrialization
Apr 27, 2026 1588
Addis Ababa, April 27, 2026 — African countries have been urged to leverage their vast reserves of critical minerals to accelerate industrialization and achieve sustainable development, as the global economy shifts toward low-carbon growth. Speaking at a high-level forum on Africa’s critical minerals at the United Nations Economic Commission for Africa, Hailemariam Dessalegn, Board Chair of the Alliance for a Green Revolution in Africa, said the continent stands at a pivotal moment in history. “Africa must decide whether to seize this opportunity to build industries and secure prosperity, or remain an exporter of raw minerals,” Hailemariam, the former prime minister of Ethiopia also said. The forum, titled “Harnessing Africa's Critical Minerals for Green Industrialisation and Sustainable Development,” opened today at UNECA headquarters in Addis Ababa. It is organized by the UONGOZI Institute in collaboration with UNECA, ahead of the Africa Regional Forum on Sustainable Development scheduled for April 28–30. Hailemariam noted that while Africa holds abundant reserves of minerals essential for clean energy technologies, such as cobalt, lithium, and rare earth elements—the continent continues to export them in raw form, limiting economic gains. He emphasized the need for African countries to move up the value chain by investing in mineral processing, refining, and manufacturing, including battery production and other green industries. “The green transition must not become a new chapter of extraction without transformation,” he stressed. The former prime minister also highlighted the importance of infrastructure development, particularly in energy and transport, as a foundation for industrial growth. He further called for stronger regional integration under frameworks such as the African Continental Free Trade Area, noting that no single country can independently develop a complete mineral value chain. In addition, he urged governments to enhance governance, transparency, and equitable partnerships based on trade and investment rather than aid dependency. Meanwhile, Executive Secretary of UNECA, Claver Gatete said Africa holds nearly 30 percent of the world’s critical minerals, positioning it at the center of the global energy transition. He pointed to countries such as the Democratic Republic of the Congo, Zimbabwe, and Mozambique as key players with significant mineral resources vital for green technologies. However, Gatete noted that most of these minerals are exported without processing, while limited intra-African trade continues to constrain industrialization and job creation. He added that strategic investments in local processing and the development of regional value chains could unlock billions of dollars in investment and create millions of jobs across the continent. The forum brought together policymakers, experts, and development partners to explore practical strategies for harnessing Africa’s mineral wealth for inclusive and sustainable growth. Participants called for stronger cooperation, increased investment in value addition, and improved institutional capacity to ensure the continent fully benefits from its natural resources.
Ethiopia’s Transformative Gains Draw Global Attention, Says PMO
Apr 26, 2026 1985
Sunday Perspectives Addis Ababa, April 26, 2026 (ENA) —Excellence has a way of making itself visible. Under the leadership of Prime Minister Abiy Ahmed, Ethiopia’s progress is increasingly capturing global attention, according to Office of the Prime Minister (PMO). His recent appointment by the African Union as Champion for Artificial Intelligence and Digital Health adds to a growing list of international recognitions. These include the FAO Award, the Agricola Medal, the Outstanding African Leadership Award, and his designation as IGAD Tourism Champion. Far from being personal accolades alone, these honours reflect Ethiopia’s rising influence and leadership across critical sectors. At the heart of this recognition is a broader national transformation driven by digital innovation. Guided by a vision of moving Ethiopia from “the debt of late arrival to the prize of early arrival,” the country has taken bold steps to lead in emerging technologies. It established Africa’s first Artificial Intelligence Institute and is developing an AI-focused university, positioning itself at the forefront of the continent’s digital future. This ambition is matched by tangible progress. Over 132 institutions are now integrated into the Fayda National ID system, while 31 MESOB one-stop service centres provide access to 2,396 services from 476 institutions, significantly reducing bureaucratic barriers. With more than 41 million Fayda ID users and 58 million mobile money subscribers, Ethiopia is rapidly transitioning from traditional, cash-based systems to a more efficient digital economy. Beyond technology, Ethiopia’s leadership is equally visible in environmental restoration. Since the launch of the Green Legacy Initiative in 2019, the country has mobilized millions of citizens to plant and protect trees, increasing forest cover to 23% within just six years. What began as a policy has evolved into a nationwide movement—creating jobs, restoring ecosystems, and embedding environmental stewardship into the national identity. With over 48 billion seedlings planted, Ethiopia now stands as a continental model for large-scale ecological restoration. This achievement has elevated the country’s role globally, from participant to leader in climate action, demonstrating how environmental sustainability can align with economic resilience and food security. The transformation also extends to tourism and urban development. Through strategic investments in eco-tourism, infrastructure, and city beautification, Ethiopia is positioning itself—and the broader Horn of Africa—as an emerging global destination, while creating jobs and fostering regional integration. In agriculture, the results are equally striking. Through the “Wheat for Food Sovereignty” initiative, annual wheat production has surged from less than 27 million quintals in 2018 to over 280 million quintals in the 2025/2026 period. This dramatic increase has reduced import dependence, boosted farmer incomes, and placed Ethiopia on the path toward self-sufficiency. Across digital innovation, environmental restoration, tourism, and agriculture, one defining pattern emerges: vision backed by execution. The leadership driving these efforts shows that when ambition is matched with sustained action, recognition follows—not as the objective, but as a validation of real progress. Ultimately, these achievements represent more than awards or milestones. They are the building blocks of a stronger, more resilient nation—one that is shaping its future with confidence and redefining its place on the global stage.
FinWise Bootcamp Spotlights Ethiopia’s Rising Fintech Innovators
Apr 26, 2026 2718
A new generation of Ethiopian fintech startups is stepping into the spotlight following the successful conclusion of the FinWise Acceleration Bootcamp, an intensive program designed to expand financial access and accelerate digital innovation across the country. The 11-day bootcamp, organized by the Entrepreneurship Development Institute in partnership with the United Nations Capital Development Fund, brought together some of the country’s most promising innovators tackling last-mile financial service challenges. From a competitive pool of over 300 applicants, 33 startups were selected to participate, it was learned. Through a combination of one-on-one mentorship and hands-on product development, founders refined their business models and strengthened their readiness for market entry. The program culminated in the awarding of a total of 20 million Birr to eight top-performing startups. Among them, ID Net Technologies, Zerf Tech, and Laki Pay stood out as leading innovators, demonstrating strong execution and scalable solutions. Speaking at the closing ceremony, State Minister of Labor and Skills Solomon Soka emphasized the progress made by participants, noting that many had advanced beyond early-stage concepts to deliver measurable outcomes. “Participants are now showing tangible results that reflect both innovation and readiness for market impact,” he said. He also highlighted the importance of collaboration between government institutions and international partners in advancing financial inclusion and entrepreneurship. Despite Ethiopia’s ambitions to build a digitally enabled economy, access to formal financial services remains limited. Challenges such as heavy reliance on cash, underdeveloped agent networks, and low adoption of digital tools continue to constrain progress. The fintech solutions emerging from the bootcamp are expected to address these gaps while supporting key sectors including agriculture, rural development, tourism, industrialization, ICT, and job creation—pillars critical to Ethiopia’s economic growth. Inclusivity was a central pillar of the initiative, with at least 30 percent of participating startups led or co-founded by women, reinforcing efforts to broaden representation within the innovation ecosystem. The FinWise Bootcamp signals growing momentum in Ethiopia’s fintech sector, with stakeholders expressing optimism that insights from the program will help shape future policy and strengthen the country’s evolving digital economy.
Manufacturing Push Gains Momentum as Ethiopia Cements Economic Foundation: Minister Melaku
Apr 26, 2026 1819
Addis Ababa, April 26, 2026 (ENA) —Industry Minister Melaku Alebel stated that the government is working with a focus on the manufacturing industry sector to solidify Ethiopia on a strong economic foundation. Speaking during the “Ethiopia Tamrit (Made in Ethiopia”) 10-kilometer street race held at Meskel Square; the minister underscored the government’s focus on expanding industrial capacity and promoting locally made products. The event drew senior officials including Culture and Sports Minister Shewit Shanka, Addis Ababa Deputy Mayor Jantrar Abay, and Ethiopian Athletics Federation President Sileshi Sihine. Minister Melaku said the race was designed to promote locally manufactured sport materials and highlight the growing capacity of industries engaged in import substitution. “The government is working with a clear focus on manufacturing to build a strong economic foundation,” he said, adding that reforms in recent years have begun to yield tangible results. He noted that momentum in the sector has accelerated following the launch of the “Ethiopia Tamrit” initiative, with improvements seen in both the quality and volume of domestic production. “The culture of using locally manufactured goods is steadily improving,” he stated, emphasizing that products once reliant on imports are now increasingly produced within the country. The minister affirmed that efforts would continue to expand the sector’s contribution to the national economy and deepen industrial transformation. Minister Shewit Shanka on her part highlighted parallel investments in the sports sector, noting that expanding infrastructure has opened broader opportunities for youth participation and development. “The integration of sports and industry is helping replace imported sports materials with locally produced alternatives,” she said. She added that the sportswear used in the race was entirely produced in Ethiopia, reflecting growing coordination between the two sectors. Deputy Mayor Jantrar Abay also pointed to significant progress in Addis Ababa’s industrial landscape, noting that reforms have strengthened production capacity and supported the city’s role in advancing the national manufacturing agenda.
Italy Aims to Double Trade with Ethiopia by End of Next Year: Trade Promotion Commissioner Pasqualucci
Apr 25, 2026 2015
Addis Ababa, April 25, 2026 (ENA) —Italy targets to double its planned 600-million Euros trade with Ethiopia for 2026 as the economic relations, driven by high-level diplomatic engagement, have been growing, according to Claudio Pasqualucci, Trade Promotion Commissioner at the Italian Embassy in Addis Ababa. Ethio-Italy relations are experiencing a strong resurgence focused on economic growth, investment, and infrastructure. The rapid growth and deepening strategic partnership between the two countries is driven by strong high-level diplomatic engagement between Prime Minister Abiy Ahmed and Italian Prime Minister Giorgia Meloni. In an exclusive interview with ENA, Pasqualucci said Italy and Ethiopia have enjoyed long-standing relationships in various spheres as their economic relationship is growing. The bilateral trade between Ethiopia and Italy is growing both in import and export sectors, he stated, adding that the bilateral trade targeted to reach about 600 million Euros by the end of 2026 will double by the end of next year. “Our intent is to double (trade) at least for next year. We want to double our exports to Ethiopia and also to facilitate Ethiopian exports to Italy, especially in those materials that are very important for our economy.” Commenting on the comprehensive economy of Ethiopia, the Trade Commissioner commended Ethiopia’s massive transformation in the financial, trade, and economic landscapes within a short period of time. Many reforms have been carried out and many others are underway, Pasqualucci noted, highlighting the financial reform, including the macroeconomic reform, which is a huge boost for foreign investors and opening of the economy for foreign companies. Regarding the engagement of Italian companies in Ethiopia and the readiness to increase their presence, the Trade Commissioner said: “We have 150 Italian companies that are constantly trading with Ethiopia, but we want to do more.” According to Pasqualucci, Italian companies currently look at Ethiopia as a very important destination for doing business. He also praised the Ethiopian government for facilitating the business environment, which is crucial, and gives a very important message to companies. On the strong people-to-people ties, he said many Italians live here, many Ethiopians live in Italy. This demonstrates that the two countries' strong relations is based on solid foundations. Highlighting the promising future prospects of Ethiopia and Italy, the Trade Commissioner affirmed Italy's readiness to further deepen relations with Ethiopia in various spheres. Ethiopia is also doing its part, including creating a conducive business environment driven by a comprehensive reform, he added. Ethiopia and Italy are deepening their longstanding strong ties, moving beyond traditional diplomacy into intensified economic, infrastructure, and investment cooperation.
PM Abiy Inaugurates Major Energy, Industrial Projects at Hawassa Industrial Park
Apr 25, 2026 3343
Addis Ababa, April 25, 2026 (ENA) —Prime Minister Abiy Ahmed has officially inaugurated major industrial projects at Hawassa Industrial Park, marking a significant step in Ethiopia’s push toward clean energy and industrial growth. The newly launched facilities include the Toyo Phase 2, Origin, and Lumintech solar factories, alongside the HZ Gas plant. Together, the solar factories are expected to generate an annual capacity of 11.3 gigawatts of clean energy, contributing to the country’s renewable energy ambitions. The HZ Gas plant will play a critical role in industrial supply, producing 900 tons of oxygen, 40,000 tons of nitrogen, and 7 tons of hydrogen each year. In a statement shared on social media pages, Prime Minister Abiy said: “Today in Hawassa, Sidama Region, we proudly inaugurate the Toyo Phase 2, Origin, and Lumintech solar factories, alongside the HZ Gas plant at Hawassa Industrial Park.” He emphasized that the projects have already created substantial employment opportunities, helping expand economic prospects and improve livelihoods. Highlighting the broader impact, the Prime Minister noted that while the production capacity of these facilities is significant, it is only a reflection of Ethiopia’s vast untapped potential. The Government of Ethiopia has recently accelerated the rollout of major development projects. Today’s inauguration further underscores its continued focus on renewable energy expansion and industrial growth as key drivers of the country’s economic transformation, as ENA learned.
Ethiopia Unveils Integrated Sustainable Financing Framework to Boost Long-Term Dev’t
Apr 24, 2026 1605
Addis Ababa, April 24, 2026 (ENA) —The Government of Ethiopia has officially launched the Ethiopian Integrated Sustainable Financing Framework (E-ISFF) together with a new Country Platform in Addis Ababa, marking a major shift in how the country coordinates development financing. The launch event, held at the Skylight Hotel, brought together government officials, private sector representatives, and international development partners to align domestic and external financial resources with Ethiopia’s long-term development priorities. State Minister of Finance, Semereta Sewasew said the framework is a key result of Ethiopia’s ongoing reform agenda aimed at strengthening the economy and modernizing public institutions. She explained that the E-ISFF is designed to integrate all sources of financing—public, private, and international—into a single coordinated system aligned with national priorities. The Country Platform will act as the implementation hub, improving coordination among stakeholders and supporting the mobilization of funds for priority projects. The government will also use a Sector Working Group Milestone Tracker to monitor progress and address implementation challenges. Officials from the Ministry of Planning and Development said the framework will help translate national development goals into actionable, investable projects by enabling sector ministries to move from identifying needs to preparing bankable project pipelines. Samuel Doe, Resident Representative of the UNDP, described the initiative as a shift toward greater national ownership of development financing, noting that more than 80 countries have adopted similar integrated approaches to move from short-term budgeting to long-term strategic financing. Wondwosen Getaneh, a lead expert on the framework, outlined its financing pillars, including strengthening domestic resource mobilization through improved tax systems, expanding private sector participation through capital markets and public-private partnerships, and leveraging diaspora contributions through structured investment tools such as bonds and investment facilities. Development partners expressed support for the initiative and encouraged strong implementation. The government reaffirmed its commitment to working with all stakeholders to ensure the framework delivers a more resilient, inclusive, and nationally driven development pathway for Ethiopia.
Finland Emphasizes Investment, Digitalization as EU–Ethiopia Ties Evolve
Apr 24, 2026 1730
Addis Ababa, April 24, 2026 (ENA) —Finland’s Ambassador to Ethiopia, Sinikka Antila, said the partnership between the European Union and Ethiopia is undergoing a significant shift from traditional development cooperation toward increased investment and private sector engagement. In an exclusive interview with ENA at the EU–Ethiopia Business Forum 2026, held under the theme “Unlocking the Global Gateway Potential,” the ambassador noted that Finland views the platform as critical for advancing this transition. “We have had development cooperation for many years, but now we are diversifying into business partnerships and investments,” she said. “That is why, for the Embassy of Finland, this business forum is very important.” Antila highlighted the participation of leading Finnish companies, including Nokia and Vaisala, as a reflection of growing economic engagement. “Nokia is a strategic partner for Safaricom, and digitalization is a very important area,” she stated. “It is also a key priority under the Global Gateway between Europe and Africa, and we want to be part of this.” The ambassador also pointed to ongoing cooperation in climate and meteorological technology, noting that Vaisala, in collaboration with Finnish partners and Ethiopia’s meteorological institutions, is implementing advanced weather radar systems in the country. “These are concrete examples of how technology partnerships can support development,” she said, adding that digitalization and emerging technologies offer vast potential for Ethiopia’s future growth. “For a country of this size, digitalization is essential to connect people and services,” she said. “With your ambitions in areas like artificial intelligence, the opportunities are significant.” The ambassador further highlighted Ethiopia’s ongoing economic reforms, describing them as a crucial step toward opening the economy and enhancing competitiveness. “You have started historic economic reforms, including foreign exchange measures. These are very important steps,” she said. “We want to support these efforts so that they bring predictability and confidence to the private sector.” The ambassador reaffirmed Finland’s commitment to supporting Ethiopia’s development through innovation, investment, and strengthened economic cooperation. Regarding Ethiopia’s progress in implementing AfCFTA, Antila underscored the importance of continental economic integration, welcoming the country’s progress in implementing the African Continental Free Trade Area (AfCFTA). “I was very happy to hear that Ethiopia is advancing and already trading under the AfCFTA framework,” she said. “This is very important for economic growth and for creating jobs, especially for the youth.” She added that European companies already operating in Ethiopia can play a key role in promoting the country as an attractive investment destination.
Ethiopia Attracts Czech Investors with Promising Business Reforms, Says Czech Foreign Ministry State Secretary
Apr 24, 2026 1358
Addis Ababa, April 24, 2026 (ENA) — Ethiopia’s effort to open the business environment through macroeconomic reforms is encouraging Czech investors to explore opportunities in various sectors, Radek Rubeš, State Secretary of the Czech Ministry of Foreign Affairs, said. In an exclusive interview with ENA, the State Secretary pointed out that Czech companies have an interest in doing business in Ethiopia in water and sanitation, irrigation, waste management, and transport, among others. Rubeš stated that Ethiopia’s government is “really trying to open up” to foreign investment in order to create a business-oriented environment, and “we would also like to be part of the international community coming to Ethiopia.” He added that recent discussions with Ethiopian partners indicated that the investment climate is improving and “there are really lots of opportunities.” The State Secretary highlighted sectors where Czech firms have particular strengths, including water distribution, sanitation, and irrigation. He also cited waste management as an area where Czech companies could expand their involvement and further revealed a transport-related initiative in which three Czech companies are working together on plans to build small regional airports. According to him, the projects could benefit both Ethiopian travelers and tourists seeking to visit different regions of Ethiopia. He further mentioned that Czech expertise also extends to healthcare and mining, noting that Czech firms are already active in health-related businesses and have specialized academic expertise in mining. Moreover, the State Secretary said that the Czech government is working with Ethiopia toward an economic agreement between the two governments, including plans to establish a joint economic commission that provides a framework for cross-border business and stability for companies operating in either country. Rubeš recalled 2023 as a strong period of cooperation, including visits by both countries’ prime ministers and a major exhibition in Prague featuring Ethiopian arts and culture. After the election in the Czech Republic, the new government has reaffirmed that Africa remains a major priority in Czech foreign policy, with Ethiopia among its top interests in the region, the State Secretary stated. Diplomatic and economic ties between Ethiopia and the Czech Republic date back to 1918, and there is a long tradition of cooperation in various areas, including business collaboration.
Ethiopia Envisions Building Large Regional Hub Like Dubai or Doha: CNN
Apr 24, 2026 7121
Addis Ababa, April 24, 2026 (ENA) —The major American multinational news channel Cable News Network (CNN) revealed that Ethiopia wants its planned 12.5-billion-U.S.-dollar mega-airport to be for Africa what Dubai or Doha is for the Middle East. CNN quoted Ethiopian Airlines CEO Mesfin Tasew as saying that the national carrier aims to make "the new airport to be for Africa what Dubai or Doha is for the Middle East — a large regional hub with strong international connectivity." Ethiopia has embarked on what is described as Africa’s largest aviation infrastructure project, the Cable News Network stated, adding that the mega-airport could redefine connectivity across the continent. The new Bishoftu International Airport, located about 30 miles southeast of Addis Ababa, is expected to significantly ease long-standing travel challenges faced by African passengers, it was noted. Flying between African cities has often required transit through global hubs such as London, Paris, or Dubai. However, the construction of the new airport is set to change this pattern by enabling more direct intra-African and international connections. According to CNN, the Airline's ambition reflects Ethiopia’s broader strategy to position itself at the center of Africa’s rapidly growing aviation market. It noted that the airport, scheduled for completion in 2030, will initially handle up to 60 million passengers annually, with plans to expand capacity to 110 million passengers. This would place it among the busiest airports globally, surpassing even some of the world’s current top aviation hubs. The huge project is being spearheaded by Ethiopian Airlines, Africa’s largest airline by several key metrics, further strengthening the country’s leadership in the aviation sector. The airline plans to directly finance a significant portion of the project, while additional funding is being negotiated with international partners. CNN emphasized that Addis Ababa is already one of Africa’s leading aviation hubs, but the existing Bole International Airport is nearing its capacity limits, necessitating a larger and more advanced facility. Highlighting the broader impact, the news network CNN pointed out that the new airport is expected to play a crucial role in connecting African skies and unlocking the continent’s aviation potential. Africa is among the fastest-growing aviation markets globally, and improved connectivity could accelerate trade and mobility. The airport will also significantly enhance cargo capacity, supporting the implementation of the African Continental Free Trade Area (AfCFTA) by enabling the handling of millions of tons of freight annually, CNN reported. It further stated that the airport’s design, led by internationally renowned Zaha Hadid Architects, will reflect Ethiopia’s natural and cultural diversity. The terminal will be inspired by the Great Rift Valley, offering travelers a unique experience that captures the essence of Ethiopia and Africa. Quoting the project’s designers, CNN said transit passengers will “feel and touch Africa,” as the airport integrates open spaces, gardens, and culturally inspired architecture, creating a distinctive identity for the facility. Moreover, sustainability is a key priority, with the project incorporating environmentally conscious features such as solar energy, locally sourced materials, and innovative water management systems. Ethiopia’s mega-airport project is part of a broader wave of aviation investments across Africa, but its scale and ambition set it apart as a potential game-changer for continental connectivity, according to CNN. The report also underscored that the success of such a transformative project will depend on continued collaboration among African airlines and supportive policy frameworks aimed at enhancing seamless air travel across the continent.
Ethiopia’s Reforms Playing Decisive Role in Creating Conducive Investment Climate: UNIDO Investment, Responsible Business Head
Apr 24, 2026 2302
Addis Ababa, April 23, 2026 (ENA) —Ethiopia’s ongoing economic reforms are playing a decisive role in creating a conducive and predictable investment climate, according to Stefan Kratzsch, United Nations Industrial Development Organization's Sustainable Investment and Responsible Business Unit Head. In an exclusive interview with ENA, the Head said the reforms are critical to attracting both foreign direct investment and domestic capital, while ensuring that investments contribute to national development priorities such as job creation, value chain development, and export growth. Kratzsch added that Ethiopia’s large population provides a significant market opportunity, allowing investors to scale operations domestically and expand into regional and continental markets through frameworks like the African Continental Free Trade Area. The Head emphasized the importance of balancing foreign direct investment with domestic industrial development, underscoring that partnerships such as joint ventures and public-private partnerships are essential to ensure mutual benefits. Kratzsch also highlighted the need to prioritize investments that uphold strong governance standards and promote inclusivity, particularly by enhancing the participation of youth and women in both employment and decision-making roles. Commending the Ethiopian government’s transparency and active engagement with investors, the Head stressed that continued public-private dialogue will be vital to sustain investor confidence and further improve the business environment. Ethiopia is well-positioned to play a pivotal role in Africa’s industrialization and could serve as a model for other countries pursuing sustainable and inclusive economic growth, he elaborated. UNIDO has been supporting Ethiopia’s industrialization agenda through technical assistance, capacity building, and policy advisory services.
Ethiopia's Flourishing Business Climate Boosting Italian Investment: Trade Promotion Commissioner Pasqualucci
Apr 23, 2026 1427
Addis Ababa, April 23, 2026 (ENA) —Italy’s investment and engagement, supported by Ethiopia’s flourishing business climate, is growing, Claudio Pasqualucci, Trade Promotion Commissioner at the Italian Embassy in Addis Ababa, said. Over 20 Italian companies, alongside a wide range of international and local exhibitors, are taking part at the Big 5 Construct Ethiopia 2026 event at the Addis International Convention Center. The event, which opened today, will remain open up until April 25. Briefing the media, the Trade Promotion Commissioner highlighted the opening up of the Ethiopian economy for foreign companies and the growing of the business environment. “The business environment is growing and moving forward. And we can observe by the results. For example, Italian exports to Ethiopia have increased last year.” Currently, Italian investment has reached approximately 723 million Euros, contributing to a broader framework of economic cooperation, it was learned. Noting that there is huge potential to increase the numbers more, Pasqualucci said the reform that the Ethiopian government has carried out has been instrumental in enhancing the business environment. “We want to work with Ethiopian companies and the real estate industry in urban development. We want to generate more integrated dynamics bilaterally.” The Commissioner commended the vast array of economic and fiscal reforms undertaken by the government that benefit both the Ethiopian economy and foreign companies. To date, approximately 150 Italian companies maintain trade and investment relations with Ethiopian partners, contributing to a dynamic and increasingly diversified business environment. Ethiopia has also been designated as a priority country under Italy’s Mattei Plan, a strategic initiative aimed at strengthening cooperation with African countries through sustainable development projects and economic partnerships. The ongoing exhibition offers direct access to upcoming public and private projects while creating opportunities for business development, partnership building, and stronger engagement with local developers, contractors, and decision-makers. Ethiopia’s ongoing process of market liberalization and progressive opening to foreign investment is strengthening its position as a regional economic hub. In this evolving context, a broad range of international companies are active across key sectors.