EIH & Puma Energy Explore Investments in Ethiopia’s Energy & Aviation Sectors
Ethiopian Investment Holdings (EIH) and Puma Energy are in discussions to boost Ethiopia’s energy and aviation infrastructure. The talks focused on strategic partnerships to meet rising demand and position Ethiopia as a global hub. EIH CEO Brook Taye emphasized the need for world-class infrastructure, aligning with projections that Ethiopia’s aviation industry will triple by 2040. Puma Energy’s Ben Ouattara highlighted plans to expand jet fuel storage and leverage Trafigura’s investments to enhance fuel supply through the Berbera Oil Terminal. Beyond aviation, Puma Energy sees broader energy investment opportunities, reinforcing Ethiopia’s commitment to economic transformation and foreign investment.
UNDP to Support Ethiopia in Mobilizing $2 Billion for Green Finance
The UNDP has pledged to help Ethiopia secure $2 billion in green financing by 2030 through mechanisms like green bonds, carbon credits, and debt swaps. At UNDP’s Annual Development Conference, Resident Representative Samuel Doe stressed the urgency of climate action.
Ethiopia, ranked 155th on the 2022 Global Climate Vulnerability Index, has made strides with initiatives like the Climate Resilient Green Economy (CRGE) and the Green Legacy Initiative. However, funding gaps persist. With COP29 commitments to triple global climate finance, Ethiopia now has greater opportunities to secure resources for its green transition. Read more
Ethio-Djibouti Railway Launches Online Booking & Expands Services
Ethio-Djibouti Railway (EDR) will introduce an online booking platform for passenger services starting in February, requiring the national ID (Fayda) for all bookings. CEO Takele Uma highlighted EDR’s expansion into freight forwarding and multimodal operations to enhance efficiency, driven by high demand for cargo transport.
EDR, established in 2017 with a $500 million investment, has been a key player in Ethiopia-Djibouti trade. Its new three-year strategy aims to further modernize railway logistics and operations. Read more
Ethiopia’s Special Economic Zones Attract $590M in Six Months
Ethiopia’s Industrial Parks Development Corporation (IPDC) reported attracting over $597 million in investments to special economic zones and the Dire Dawa Free Trade Zone in the first half of the 2024/25 fiscal year. More than 80 investments have been secured across key sectors, including pharmaceuticals, agro-processing, EV assembly, and manufacturing. Investors from China, Russia, Vietnam, and Ethiopia have leased 70+ hectares of land and 14 manufacturing sheds across multiple SEZs, boosting industrial growth. Read more
Ethiopia Targets April for Debt Restructuring Deal Under G20 Framework
Ethiopia aims to finalize a Memorandum of Understanding (MoU) with the Official Creditor Committee (OCC) by April under the G20 Common Framework for debt restructuring. Finance Minister Ahmed Shide recently led a delegation to China, meeting key financial institutions to discuss Ethiopia’s debt treatment and economic cooperation. The country seeks $1.4 billion from undisbursed Chinese credit and additional financing from commercial lenders. With $3.5 billion in expected debt treatment, Ethiopia continues negotiations to restore debt sustainability, aligning with its IMF-supported reform agenda. Read more
Ethiopia Set to Reenter Global Stock Market After a Century
Ethiopian Investment Holdings (EIH) is preparing to invest in multinational corporations via Euronext Paris, marking Ethiopia’s return to global equity markets for the first time since Emperor Menelik II’s investments in the late 19th century.
EIH, which manages 34 major state-owned enterprises, aims to diversify Ethiopia’s investments and strengthen its global financial presence. CEO Brook Taye confirmed that the sovereign wealth fund is in the final stages of acquiring stakes in foreign companies. Read more
Italy Backs Ethiopia’s Digital Transformation with €4.5M Grant
Ethiopia and Italy have signed a €4.5 million ($4.6M) grant agreement to boost digital innovation and startups. The deal, signed by Finance Minister Ahmed Shide and Italy’s Minister for Universities and Research, Anna Maria Bernini, will support an e-services and startup incubation center, a high-tech training hub, and a Fab Lab for prototyping.
This initiative aligns with Ethiopia’s Digital Ethiopia 2025 strategy, aiming to drive economic growth through digitalization. With investments in mobile technology and digital services, Ethiopia expects to create over one million jobs and generate 57 billion birrs in tax revenue, significantly boosting agriculture and manufacturing by 2028.
EIH Reports 901 Billion Birr Revenue in Six Months
Ethiopian Investment Holdings (EIH) announced 901 billion birr ($5.1 billion) in revenue from state-owned enterprises in the first half of the fiscal year, contributing 20% of Ethiopia’s total tax revenue. CEO Brook Taye highlighted EIH’s role in supporting investors through equity investments and streamlining land access.
EIH also provided updates on Ethio Telecom’s partial privatization (closing mid-February) and plans to fully privatize eight sugar estates by December 2025. The government is restructuring electricity tariffs and opening the railway and sugar industries to private sector involvement, aligning with its IMF program commitments. Read more
IMF Released Its Report on Ethiopia
The IMF’s latest review highlights Ethiopia’s strong progress under the ECF program, unlocking a $248M disbursement. Key reforms include a flexible exchange rate, monetary policy modernization, tax reforms, SOE governance, and debt restructuring. Get the full report here: https://www.imf.org/en/Publications/CR/Issues/2025/01/29/The-Federal-Democratic-Republic-of-Ethiopia-Second-Review-Under-the-Extended-Credit-561399
IMF Managing Director to Visit Ethiopia
IMF Managing Director Kristalina Georgieva will visit Ethiopia on February 8–9, 2025, for high-level discussions with Prime Minister Abiy Ahmed, government officials, and private sector representatives. The visit will focus on Ethiopia’s economic outlook, policy priorities, and ongoing reforms. It underscores the IMF’s commitment to supporting Ethiopia’s economic development and fostering dialogue for sustainable growth.
✨Learn With Biritu✨
Need an easy way to learn about the capital market? Worry not because you can now do that from the Korrma App. Go to the App Store or Play Store and download Korrma to start leaning today!
It has:
👍 Short courses
👍 Bite-sized videos
👍 Notes
👍 Quizzes
👍 A certificate at the end
Trading is easy with our demo app, offering a seamless trading experience. If you top the weekly leaderboard, you’ll be rewarded.
Start today and learn about the capital market easily!
That’s a wrap for this week! For more updates, head over to our website or follow us on social media.
✨ Crush your week ahead ✨
