FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds




City Adds Plot to Africa Hall Renovation

Dec 7 , 2019


[ssba-buttons]

The government has allocated an additional plot of 3,100Sqm of land to be incorporated in the renovation of the Africa Hall together with the ongoing Beautifying Sheger Project. The agreement was signed between the United Nations Economic Commission for Africa's Executive Secretary, Vera Songwe (PhD.), and the Ministry of Foreign Affairs' Gedu Andargachew. The Addis Ababa City Administration has also inked agreements to provide the land for the project, which will serve as a public park area. The United Nations General Assembly approved the renovation project in 2015. The project would cost an estimated 57 million dollars. ECA already signed a contractual agreement with three companies including the Italian company called CONSTRUZIONI 2000 S.R.I, the UAE-based R.C. Trade Ltd, and Ethiopia Bridge Construction Plc in May, which is worth more than 28 million dollars. The renovation project on Africa Hall's main building includes a complete overhaul of the existing infrastructure, including the surrounding landscape that will also incorporate a new visitor entry building.


Radar

Federal Prosecutors Accuse Public Officials, Contractors of Corruption, Alleged Illicit Fund Transfers

Federal prosecutors have filed corruption and money laundering charges against 11 defendants, including Nigstu Bogale, Coordinator of the Development Project for Response to the Impact of Refugees in the Horn of Africa at the Ministry of Agriculture, Biniyam Fantaye and Taye Habte, senior irrigation engineers involved in the Development Response to Displacement Impacts Project (DRDIP-II), as well as private individuals and construction company representatives. The case alleges losses and illicit...


Radar

EIH Transitions to New Headquarters as It Oversees Major State-Owned Enterprises

Ethiopian Investment Holdings (EIH) is relocating its headquarters from its current site on General Wingate Street. The former headquarters was located behind the Ministry of Industry and near Abrehot Library. The new office is expected to be on Mozambique Street, along the route from Mexico Square to Bulgaria Road. The building belongs to one of EIH's subsidiaries, and all departments are set to move there as interior design and finishing works continue. Under the leadership of Brook Taye...


Radar

Import Substitution Push Lifts Domestic Manufacturing, Industrial Recovery

A push for import substitution and industrial expansion has prioritised 96 strategic products for local manufacturing. The “Ethiopia Tamirt” initiative reports 4.85 billion dollars in savings, supported by trade fairs linking local producers to domestic and international markets. On average, 700 new projects enter the market annually, contributing to more than 2,800 investments over four years. At the grassroots level, 18,000 SMEs have been established, while 993 dormant factories have...