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



Addis Abeba Becomes Home to Boeing's Africa Office


Addis Abeba Becomes Home to Boeing's Africa Office

Boeing has confirmed Ethiopia as the location for its new African headquarters, ending speculation that Kenya or South Africa might host the strategic expansion. This move reflects Boeing’s commitment to deepening its footprint and operational capacity across Africa. The decision builds on a 2023 joint venture between Boeing and the local industry to manufacture airplane parts. This partnership shows Boeing’s confidence in the country’s industrial potential and supports its broader goals to expand manufacturing and create jobs. Ethiopian Airlines, renowned for its outstanding safety record and extensive global network, strengthens Ethiopia’s appeal as an aviation hub, making it a natural choice for Boeing’s regional base. Looking ahead, Boeing anticipates African airlines will require more than 1,000 new jet aircraft over the next two decades, with around 80pc intended to expand existing fleets. This surge in demand underlines the continent’s growing air travel market and positions Ethiopia as a key player in meeting those needs. The new office is expected to enhance collaboration between Boeing and local partners, fostering improved operational efficiency and attracting greater investment to Africa’s aviation sector. The inauguration ceremony brought together top officials, including Kuljit Gatta, President of Boeing for the Middle East, Turkey, Africa, and Central Asia; Ervin Masinga, U.S. Ambassador to Ethiopia; Getachew Mengistu, Director General of the Ethiopian Civil Aviation Authority; and Mesfin Tasew, CEO of Ethiopian Airlines, among other senior executives.

[ssba-buttons]

Radar

Prime Capital Joins ESX, Seeks Securities Dealership Licence

Prime Capital has secured trading membership on the Ethiopian Securities Exchange (ESX) and is pursuing a securities dealership licence to expand its brokerage and investment banking services, according to Head of Business Development and Marketing Fikremarkos. The firm received its trading membership after obtaining an investment banking licence from the Ethiopian Capital Market Authority (ECMA) and meeting all ESX requirements. The licence authorises Prime Capital to execute securities tran...


Radar

Parliament Ratifies Tax Amendment, Assigns PMO to Lead Conciliation, Imposes 10pc Penalty on Late Evidence

The Prime Minister's Office will appoint independent tax conciliators while taxpayers face a 10pc penalty for late evidence under the Federal Tax Administration Amendment ratified by Parliament last week. By shifting the selection of “conciliators” from the tax authority to the PMO, authorities aim to establish a neutral dispute-resolution system to speed up out-of-court settlements. Experts describe the move as a high-stakes reform with notable institutional risks. The legislation, pa...


Radar

ZamZam Bank Registers Shares, Eyes Capital Market Debut

ZamZam Bank has secured approval from the Ethiopian Capital Market Authority (ECMA) to register its shares, becoming the first fully interest-free bank to complete the regulatory process for public trading. The approval covers five million existing shares worth five billion Br and one million bonus shares valued at one billion Br, paving the way for the Bank's future participation in Ethiopia's capital market. ZamZam plans to raise its capital to 15 billion Br and introduce Sharia-compliant i...