Ethiopian, Italian Firm Open Blanket Manufacturing Facility

Sep 24 , 2022

The national carrier has inaugurated a facility for the manufacturing of insulation blankets for Boeing 737-MAX aircraft at its hub in Addis Abeba Bole International Airport. The facility is part of a joint venture between the Ethiopian Airlines Group and Geven Sky Tecno, a division of the Italy-based Geven Group. Ethiopian Airlines holds a 51pc stake in the venture dubbed "Ethiopian Sky Technologies." Ethiopian reinstated the 737-MAX to its fleet last February, nearly three years after the model was grounded following a crash that claimed the lives of 149 passengers and eight crew members. It has since introduced several routes using the aircraft, including flights to Athens and Istanbul. The national carrier has five 737-MAX 8 aircraft stored in its hangars in Addis Abeba.


DDR Initiative Gets 16m Boost

A 16 million euro initiative to facilitate the disarmament, demobilisation, and reintegration (DDR) of nearly 370,000 ex-combatants was launched last week. Financed by the European Union (EU) the program will be implemented across eight regional states. It is overseen by the National Rehabilitation Commission (NRC), the agreement was signed at the Ministry of Finance's headquarters on King George St. Key figures including Semereta Sewasew, state minister for Finance; Teshome Toga, commissioner...


Central Bank Launches Youth Enterprise Forum

A financial education program targeting youth and Medium & Small Enterprises (MSMEs) was launched by the National Bank of Ethiopia (NBE) last week. It aims to equip interested trainees with personal and professional knowledge through experts from banks and microfinance institutions who will provide comprehensive training. The training modules, developed in collaboration with The First Consult and BRIDGE, cover several angles of financial literacy, including deposits, digital financial servic...


ArifPay Takes a Leap with Massive Capital Boost

Shareholders of ArifPay Financial Technologies S.C. have taken a significant stride by resolving to raise the company's paid-up capital to 300 million Br. The decision doubles down from the current 140 million Br marking a substantial increase. ArifPay, was established by 142 shareholders and secured the distinction of being the first payment operator licensed by the National Bank in 2021. CEO Bernard Laurendeau emphasised the critical timing of this capital increase, aligning with the company...