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




Ethiopia, France Forge Ahead on Renewable Energy Investment

Apr 24 , 2023


[ssba-buttons]

Ethiopian Finance Ministry officials met with French delegates today to address hurdles facing renewable energy investment and exploring ways to improve collaboration between public and private sectors. The meeting comes on the heels of a business climate report by the Ethio-French Business Club (CAFE), based on a study of over 50 French companies, conducted from September to December last year. Held at the Radisson Blu Hotel, on Marshal Tito Rd., the meeting was the third of its kind. The French officials have cited it as the latest indication of a strong bilateral relationship between the two nations. This follows Prime Minister Abiy Ahmed's visit to Paris in February. Organized by the Ethiopian Ministry of Finance and the Embassy of France, the meeting included virtual and on-site participation from key figures in both countries. Olivier Becht from the French Foreign Trade Ministry, William Roos and Agathe Blanchard from the French Treasury, and Re‌mi Mare‌chaux, the French Ambassador to Ethiopia, were among the French attendees. Representing Ethiopia were Eyob Tekalign (PhD) and Semereta Sewasew from the Ministry of Finance; Aynalem Nigusie from the Ministry of Revenue, and Girma Birru, a chief economic policy advisor to the Prime Minister.


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...