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Ethiopian Airlines Secures 27.8 billion Birr Loan to Fund Employee Housing


Ethiopian Airlines Secures 27.8 billion Birr Loan to Fund Employee Housing

Ethiopian Airlines has obtained a 27.8 billion Br loan from the Commercial Bank of Ethiopia to fund the second phase of its employee housing program, covering 5,000 homes. The initiative, part of a broader plan to house 20,000 staff, follows the first phase, which delivered homes to 1,200 employees. CBE officials noted the loan aligns with its strategy of supporting projects with long-term social and economic impact. Acting President Efrem Mekuria highlighted that 54 billion Br of 458 billion Br in loans went to government institutions, with the housing program reflecting a shared vision of "rising together, building the future." Ethiopian Airlines CEO Mesfin Tasew said the program eases housing pressures, strengthens employee welfare, and supports workforce retention. The agreement underscores growing collaboration between major state-owned enterprises to address structural challenges in the urban workforce.

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Parliament Receives $237m Development Loan Package

The Council of Ministers forwarded two concessional loan agreements totalling 237.3 million dollars to Parliament for ratification, targeting rural infrastructure and food security. The package includes 46.3 million dollars from the African Development Bank (AfDB) for climate-resilient infrastructure in pastoralist regions. A second credit facility of 191 million dollars (146.1 million SDR) from the International Development Association (IDA) is earmarked for the sixth phase of the Productive Sa...


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MoTRI to Overhaul Consumer Protection Rules Following Cabinet Approval of Trade Policy

The Council of Ministers, led by Prime Minister Abiy Ahmed (PhD), approved Ethiopia's first unified trade policy last week, ending a three-year deliberation period to fill a decades-long regulatory vacuum,. This institutional milestone mandates the Ministry of Trade & Regional Integration (MoTRI) to overhaul consumer protection frameworks, specifically requiring a rigorous revision of the Trade Competition and Consumer Protection Proclamation to eliminate market distortions and the prolifera...


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Regional Power Exports Yield $366m as Capacity Hits 9.6GW

Ethiopian Electric Power (EEP) generated 365.99 million dollars from regional exports in the first nine months of the fiscal year as national capacity reached 9,579MW. The revenue followed the sale of 24,940GWh, representing 91pc of gross generation. Hydropower remains dominant, providing 9,500MW. To diversify assets and mitigate climate risks, the utility integrated the 100MW Asela Wind Power Project. The transmission network has expanded to 148,600km to secure domestic industrial supply and...