Ethiopian Airlines Places Landmark Airbus Order

Jul 30 , 2022


[ssba-buttons]

The Ethiopian Airlines Group has ordered for A350-1000 aircraft from Airbus. The deal is an upsizing of a previous agreement between the two companies for 22 A350-900 aircraft. Sixteen of these have already been delivered. Four of the remaining will be replaced with the A350-1000 models. The flag carrier operates 18 -900s, two of which are are leased from Aercap. "The A359-1000 is the best fit for our dense routes, and we believe that the upsizing will be instrumental in satisfying the increasing demand of customers," said  Mesfin Tasew, chief executive officer of Ethiopian Airlines. The Group is among over two dozen of the country's state-owned enterprises to come under the Ethiopian Investment Holdings (EIH) earlier this year. Others under the holding company include Ethio telecom and the Commercial Bank of Ethiopia (CBE).


Radar

Amendment Expands Access for Foreign Traders

Foreign participation in Ethiopia's wholesale, retail, import, and export trade sectors has come under renewed focus as the Ethiopian Investment Board(EIB) approved a significant amendment to Directive No. 1001/2016  in its meeting on May 23, 2025. The amendment, proposed by the Ethiopian Investment Commission(EIC), focuses on refining the legal framework governing foreign investment in these sectors. The decision is part of a broader strategy to enhance the country's appeal as an investment...


Radar

NBE Sets Four Percent Ceiling on Foreign Exchange Fees

The National Bank of Ethiopia (NBE) issued a new foreign exchange market directive on May 20, 2025, that caps commercial banks' forex service fees at a maximum of four percent. Banks are instructed to adapt competitive, transparent, and streamlined pricing for all forex-related services. Effective May 26, 2025, total charges for purchasing foreign exchange whether for imports, service payments, or cash note purchases must not exceed the newly set limit. The directive also prohibits banks f...


Radar

SantimPay Launches Zero-fee Digital Remittance Platform

SantimPay has rolled out FrankRemit, first fully integrated, zero-fee digital remittance platform, in partnership with Bank of Abyssinia(BOA). The service smoothly connects all commercial banks and major mobile money providers, including Telebirr, M-Pesa, and CBE Birr which is a first of its kind in the country. FrankRemit is expected to revolutionise how the Ethiopian diaspora sends money home. Developed locally and tested over the past two weeks with successful transfers from multiple count...