FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds




Geda Special Economic Zone Project Gets Underway with Chinese Investment

Aug 21 , 2023


[ssba-buttons]

A logistics centre and manufacturing facilities are set to be developed in the Geda Special Economic Zone built by China Civil Engineering Construction Corporation (CCECC). Geda Special Economic Zone (GSEZ) is located 65Km east of the capital with the aim of connecting it with Mojo, Adama, and Shashemane towns. The five-year project will be developed on the 1,000hct land inside the Zone which is half the size of Addis Abeba and six folds of Adama town. Last week, Guo Chongfeng, general manager of CCECC Ethiopia, and Motuma Temsgen, director general of the Gada Special Economic Zone (GSEZ) inked a deal. The signing ceremony saw the attendance of  Shimelis Abdisa, president of Oromia Regional State, Girma Birru, senior economic advisor to the Prime Minister and Zhao Zhiyuan, Chinese Ambassador to Ethiopia. Shimelis disclosed that the project will open doors for investment while Zhao indicated that the project will further tie the long partnership between China and Ethiopia, facilitating the industrialisation and investment of the Oromia regional State.


Radar

Annual U.S.–Ethiopia Real Estate Expo to Debut in July

Harvest Circle Inc., a U.S.-based organisation, will launch the first annual U.S.-Ethiopia Real Estate & Construction Expo in July 2026. The event will bring together Ethiopian and U.S. real estate developers, construction firms, banks, insurers, property managers, and investors to explore partnership, financing, and investment opportunities. Organisers say the platform seeks to promote private sector-led urban development, facilitate diaspora investment, and expand market access for Ethiop...


Radar

Addis Abeba Housing Bureau Warns Landlords against Illegal Rent Hikes, Threatens Legal Action

The Addis Abeba Housing Development and Administration Bureau has issued a warning to landlords attempting to impose unauthorised rent increases or carry out unlawful evictions as the residential leasing cycle nears its statutory June 30 deadline. The warning follows reports of landlords pressuring tenants to vacate properties under claims of personal use or sale, alongside demands for steep rent hikes, according to comments made to state media. Kidist W. Giorgis, Head of the Bureau, said...


Radar

Development Bank Turns Corner as Profit Hits Eight Billion Br

The Development Bank of Ethiopia (DBE) posted a gross profit of eight billion Br in the first nine months of the fiscal year while repaying 15.6 billion Br in outstanding debt. Total income reached 17.3 billion Br, exceeding its target by 12pc. Presenting its performance to the House of Peoples' Representatives Standing Committee for Government Development Organizations, the bank highlighted progress from ongoing reforms, including reducing its non-performing loan ratio to 13.4pc, below the Nati...