Ethiopian Resumes Athens Route as Demand Spikes

Jun 25 , 2022


The Ethiopian Airlines Group has resumed operating flights to Athens, Greece three times a week in response to increased demand. Travel to Greece has exhibited a sharp uptick in recent weeks, edging closer to pre-pandemic levels for a country that is heavily dependent on tourism. Industry insiders foresee demand will continue to rise in the coming month. Ethiopian Airlines flies to more than 130 international passenger and cargo destinations across five continents. The Group is one of 27 state-owned enterprises to come under the wing of the newly-formed Ethiopian Investment Holdings, the country's first sovereign wealth fund. Other giant enterprises, such as the Commercial Bank of Ethiopia (CBE) and Ethio telecom, have also been placed under the purview of the wealth fund established earlier this year.


Radar

Horn Initiative Boosts Regional Development Agenda

A total of 20 projects worth three billion dollars are currently being implemented in Ethiopia under the Horn of Africa Initiative, which held a performance review platform last week. This initiative, established in 2019, seeks to economically integrate Horn of Africa countries through development projects. Finance Minister Ahmed Shide accentuated the initiative's goals of enhancing infrastructure connectivity, strengthening trade and economic integration, building resilience to natural and man...


Radar

Budget Woes Plague Region

The Amhara Regional State's six-month performance review revealed substantial budget shortfalls, achieving only 28.27pc of its targeted revenue. Chief Administrator Arega Kebede reported to the regional council that of the planned 71.65 billion Br for the current fiscal year, only 20.26 billion Br was collected. Despite this, revenue did see a year-on-year increase of four billion Birr. The regional state's tax-to-GDP ratio stands at a low 2.82pc, far below the national average of 7.05pc. Arega...


Radar

Modern Farming Boosted with New Centre of Excellence

The Agricultural Mechanization Centre of Excellence, built in the Qaliti area with collaboration from South Korea was inaugurated last week. The centre was constructed in seven months at a project cost of 14.7 million dollars funded by the South Korean government. It is expected to serve as a hub for inspecting, controlling, researching, and repairing agricultural mechanization machinery while also providing vocational training to develop skilled personnel in the field. Minister of Agricultur...