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IFC to Lend $80 Million to MIDROC Ethiopia’s Hotel Development
The International Finance Corporation (IFC) is set to provide 80 million loan to MIDROC Ethiopia PLC (MEP), the hospitality arm of MIDROC Investment Group (MIG), IFC is providing MEP with an $80 million long‑term loan to support the refurbishment of the Sheraton Addis (Luxury Collection) and the d...
IFC to Lend $80 Million to MIDROC Ethiopia’s Hotel Development
The International Finance Corporation (IFC) is set to provide 80 million loan to MIDROC Ethiopia PLC (MEP), the hospitality arm of MIDROC Investment Group (MIG), IFC is providing MEP with an $80 million long‑term loan to support the refurbishment of the Sheraton Addis (Luxury Collection) and the d...
$80M IFC Investment to Fund Sheraton Addis Revamp and Launch Ethiopia’s First Green-Certified Hotels
The International Finance Corporation (IFC) has announced a landmark partnership with MIDROC Ethiopia PLC (MEP) to invest $80 million in the country’s premium hospitality (guest reception) sector. It was indicated that the project, backed by a long-term loan from the IFC, aims to expand upscale ho...
Ethiopia’s Inaugurates First Beneficial Insect Breeding Center
Red Fox Ethiopia, a flower production company, today inaugurated Ethiopia’s first beneficial insect breeding center, the Ministry of Agriculture said. State Minister of Agriculture Sofia Kassa stated that beneficial insects are currently imported into the country at a high foreign currency cost. S...
Ethiopia’s Inaugurates First Beneficial Insect Breeding Center
Red Fox Ethiopia, a flower production company, today inaugurated Ethiopia’s first beneficial insect breeding center, the Ministry of Agriculture said. State Minister of Agriculture Sofia Kassa stated that beneficial insects are currently imported into the country at a high foreign currency cost. S...
Council of Ministers approves over 2.3 trillion birr draft budget for 2026/27
In its 56th regular session held today, the Council of Ministers unanimously approved a historic 2.34 trillion Birr draft federal government budget for the upcoming 2026/2027 FY. The Council has referred this unanimously approved draft budget proclamation to the House of Peoples’ Representativ...
Ethiopia’s First State-Owned Enterprise Listing on the ESX Puts National Wealth in the Hands of Everyday Citizens
#Advertorial Ethiopia has marked a significant transition in its financial landscape. With the official listing of Ethio telecom on the Main Market of the Ethiopian Securities Exchange (ESX) under the ticker symbol TELE, ordinary citizens now have the opportunity to directly own shares in one of the...
SADC launches landmark initiative to build sustainable energy transition mineral value chains
The Southern African Development Community (SADC) region has many of the sought after critical energy transition minerals. Now a five-year regional project is working to retain the mineral wealth locally while promoting livelihoods and driving industrialization. The SADC region holds vast reserves o...
Africa Financial Summit 2026 chooses Luanda to continue its mission of integrating African finance
The Africa Financial Summit – AFIS, the leading platform for African finance, announces that its annual summit will be held on November 3 and 4, 2026, in Luanda, Angola. For the first time, the summit will take place in Southern Africa, confirming its pan-African reach and its ambition to connect ...
Kenya loses $92 million in AfDB shares after missing critical payment
Kenya has forfeited African Development Bank (AfDB) shares worth approximately $92 million after failing to make its annual subscription payment. This development comes at a time when Kenya’s borrowing from the bank has risen significantly, raising concerns that the loss will severely weaken its c...
African island states seek stronger credit ratings for climate and blue economy finance
Experts, policymakers, and financial practitioners from across African Island States will gather in Mombasa on 12–13 June 2026 for a high-level workshop to enhance sovereign credit ratings and unlock access to sustainable climate and blue economy financing. Jointly organized by the Economic Commis...
No Peace Without Us: Ta’sis Alliance Rejects Islamists and Warns Against Exclusion in Sudan Talks
The Ta’sis (Sudan Founding Alliance) alliance announced ahead of its meeting with the five-party mechanism that it firmly rejects any political or negotiation arrangements outside established international frameworks, declaring that any peace process bypassing its involvement will be nothing m...
Russian language day celebrated at UNECA ahead of global observanceBy our staff reporter
The headquarters of the United Nations Economic Commission for Africa (UNECA) hosted a high-profile diplomatic and cultural event on June 4, 2026, to mark Russian Language Day. Held ahead of the official global observance on June 6, the event was noted for strengthening the growing diplomatic, educa...
iibGroup Expands Chevening Partnership to Ethiopia as Part of Broader Regional Engagement
Building on its successful partnership with the Chevening Scholarships programme in Cabo Verde and Djibouti, iibGroup has renewed its support for the 2026–2027 academic year and expanded the initiative to Ethiopia. This year, three fully funded Chevening scholarships will be awarded across Africa,...
EthSwitch records 1 million daily EthioPay-IPS transactions, wins African financial inclusion award
EthSwitch, Ethiopia’s national payment switch, has recorded more than 1 million EthioPay-IPS transactions in a single day, with the value of transactions exceeding 5 billion birr, in what the company described as a major milestone for the country’s digital payments system. The achievement comes ...
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