National Carrier Transports 12.5m Passengers

Oct 5 , 2019

Ethiopian Airlines has carried more than 12.5 million passengers in the just-ended fiscal year. The company, which had a hard year after the crash of its Boeing 737 Max-8 aircraft last March, earned an operating profit of 260 million dollars. The significant rise in jet fuel prices in the global market slightly influenced the profitability of the airline, according to Tewolde Gebremariam, CEO of Ethiopian. For the current fiscal year, Ethiopian Airlinea plans to expand its global comparativeness, according to the CEO. It also plans to build five airports in Debre Markos, Metu, Borena, Yabello and Mizan Aman. For the expansion projects, Ethiopian intends to invest over five billion Br during this fiscal year. Additionally, it plans to buy 20 planes.


Ministry Secures $86m Grants

An 86.18 million dollar grant agreement was signed between the Ministry of Finance, UNICEF and UNFPA last week to support the agencies' ongoing country programs for the fiscal year. Out of the total grant, UNICEF committed 70 million dollars to support its water, nutrition, education, health, sanitation, child protection, and gender projects. Meanwhile, UNFPA pledged 16.1 million dollars for family planning, maternal health, adolescent and youth development, and gender equality and women empo...


Authority Reports Fuel Import Stats

Ethiopian Petroleum & Energy Authority (EPA) disclosed that 3.2 million tons of fuel were imported into the country during the last fiscal year. The figure includes 2.04 million tons of diesel and 767,672tns of benzene. In the past fiscal year, the digital payment system, Telebirr, facilitated transactions totalling 103 million volumes worth 61.8 billion Br. Of these transactions, 81.39pc were for diesel, while 17.82pc were for benzene. The number of fuel stations increased from 682 to...


Commercial Bank Collects $3.2b in Foreign Currency

The Commercial Bank of Ethiopia (CBE) announced robust performance in foreign currency collection for the past fiscal year, achieving 3.2 billion dollars in total mobilisation. This includes 2.07 billion dollars in remittances, with the Bank's Diaspora banking service and CBE Birr contributing 89.9 million dollars to the total. The performance details were shared during CBE's annual review meeting last week. "This achievement is particularly gratifying given the challenging economic climat...