Ethiopia Inaugurates Chinese Funded, Built Park

Sep 11 , 2020


Ethiopia has inaugurated the Chinese funded and built Sheger Park's Friendship Square on the eve of the New Year. The inauguration was held with the presence of President Sahle-Work Zewde, Prime Minister Abiy Ahmed (PhD), Chinese Ambassador to Ethiopia Tan Jian, and 1,500 invited guests. Marked by a lakeside fountain, an artificial pond, and an active waterfall belt on the Banteyiketu River, the event showcased different parades by the Republican Guard and a marching band. Built for 50 million dollars, the project was handled by First Highway Engineering Group, a subsidiary of the mammoth China Communication Construction Corporation. The project includes the construction of a central square that rests on 32ha of land and rehabilitates 1.2Km of the Banteyiketu River. The inaugurated project is the first phase of the three-year Beautifying Sheger project that aimed at alleviating the capital city's condition to one of urban tourism and also rehabilitating two riverbanks stretching from Entoto to the Aqaqi River. The second phase of the project worth 54.8 million dollars was awarded to Jiangsu Nantong Sanjian Group to be delivered in 14 months. It will construct a science museum, children amusement park, sports centre and wedding space. It will develop 16ha of land and 10.5Km of the riverside rehabilitation.


Radar

Ethio Telecom Launches New Marketplace with Cash-Back Guarantee

Ethio Telecom has launched Zemen Gebeya, a nationwide digital marketplace integrated into the telebirr SuperApp, offering a secure platform for consumers and businesses to trade goods and services. The platform includes a built-in escrow service, allowing payments to be held temporarily until the buyer confirms delivery. If a product is not delivered or the buyer is dissatisfied, the payment is returned—creating a cash-back guarantee model designed to build trust in online transactions. Lau...


Radar

Ethiopia-Israel Business Forum Opens Doors to Investment Opportunities

The Ethiopia-Israel Business Forum took place last week at the Hyatt Regency Addis Abeba, bringing together Ethiopian government officials and investors from Israel. Officials presented a range of investment opportunities, while Israeli investors expressed interest in entering the market. The forum opened with remarks from the foreign ministers. Gedion Timotheos, Ethiopia's Minister of Foreign Affairs, used his address to extend a formal invitation to the Israeli business community, stressing...


Radar

National Bank Injects Millions Through Foreign Currency Auction

The National Bank of Ethiopia (NBE) is continuing its push to stabilise the foreign exchange market, injecting millions of dollarss into the economy through a series of currency auctions. According to official data, the latest auction was held on May 7, 2025, during which 60 million dollars was supplied to 16 participating banks at an average exchange rate of 132.9643 Br per dollar. In the previous month, the NBE held two auctions: 70 million dollars was offered on April 16 to 26 banks at an...