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




Private Data Centre to Break Ground in Addis

Oct 31 , 2020


[ssba-buttons]

Raxio Data Centre Plc, a subsidiary of Raxio Group, is set to construct the first private data centre in Ethiopia inside the premises of the nation's first ICT village, Ethio ICT Park. Planning to start construction in January 2021, the new data centre will be a tier III colocation data centre with power compatibility and redundancy. The company plans to deploy its modules to fit in an IT capacity of 1.5MW over the next few years with the possibility of doubling it as it grows. Located on the outskirts of the city, the ICT Park is also considered Ethiopia's Silicon Valley. It currently hosts private operators including ZTE, Techno Mobile and Security Innovation Network. The Ministry of Innovation & Technology (MINT) has recently announced a plan to build a data centre inside the premises of the Park. The project plan and initial design was first incepted in late 2019 with a memorandum of understanding signed between the company and the Ethiopian Investment Commission. Raxio Group, a portfolio company established 2018 by the United States investment firm, Roha Group Inc, has a presence in Uganda and plans to expand across east and southern Africa by 2022.


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...