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Ethiopian Airlines to Introduce Electric Air Taxis for City Travel


Ethiopian Airlines to Introduce Electric Air Taxis for City Travel

Ethiopian Airlines has made a 30-million-dollar deal with Archer Aviation to bring electric air taxis to the country. The airline plans to use Archer's "Midnight" aircraft to create a new, faster way to travel within cities. The "Midnight" aircraft is a small, electric-powered plane that can take off and land vertically, like a helicopter. It can carry four passengers and is designed for short trips, aiming to cut travel times greatly. Instead of long car rides, passengers could travel across cities in 10 to 20 minutes. This deal designates Ethiopian Airlines as the second customer for Archer’s Midnight aircraft, following Abu Dhabi Aviation Group. "It's a big step," said Mesfin Tasew, CEO of Ethiopian Airlines Group. "We want to make travel easier and more eco-friendly." The companies also plan to explore using the air taxis for tourism. The  signing ceremony was held in Addis Abeba last week, while they will now work with the Ethiopian Civil Aviation Authority to launch the service.

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Customs Authorities Intercept Major Alleged Contraband Shipment Worth 422 Million Br

The Customs Commission seized alleged contraband goods worth more than 422 million Br during inspections conducted between June 25 and June 30, 2026. The haul included clothing, electronics, ammunition, construction materials, coffee, vehicle spare parts, cosmetics, khat, narcotics, minerals, livestock and foreign currency. The Addis Abeba Airport, Moyale and Awash customs branches recorded the largest seizures, valued at 115 million Br, 93 million Br and 61 million Br, respectively. Authorit...


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Hijira Bank Posts Record Growth as Assets Reach 31.45 Billion Br

Hijira Bank posted 3.55 billion Br in income in 2025/26, exceeding its combined earnings over the previous four years, while gross profit reached 1.9 billion Br. Assets rose 115pc to 31.45 billion Br, deposits doubled to 24 billion Br, and capital increased 202pc to 7.45 billion Br. Digital transaction value surged 86pc to 41.72 billion Br, foreign currency earnings reached 158 million dollars, and total banking transactions hit 615.39 billion Br. The bank also disbursed 1.5 billion Br in col...


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Gadaa Bank Offers One Million Shares to Public Investors

Gadaa Bank has offered one million shares to the public at 1,050 Br per share following approval from the Ethiopian Securities Exchange (ESX) on June 22, 2026. The share sale keeks to expand the bank's capital base and strengthen shareholder value. The offering will run until September 17, 2026, and is open to existing shareholders and new investors who meet ESX requirements. It is open to existing shareholders and new investors who meet ESX requirements...