Economy

Efforts and initiatives have been carried out on trial to lighten the darkest part of Africa that left some 600 million people from the reach of electric power supply. This time, the United Nations Economic Commission for Africa (UNECA) has unveiled a new five-year initiative that seeks an initial investment of USD 10 billion to produce 10,000 megawatts of clean...

How likely will Ethiopia transform from poverty to prosperity in ten years?It seems a question the current government is expected to provide details of its plans on how to achieve that in such a wavelength political orientation. However, for the past ten years, the national economic planners have lingered to attain structural transformation in the economy, and they named their...

In Ethiopia, the issue of the coronavirus, which has overwhelmed the world’s best medical institutions is about to hit home and overwhelm the local vulnerable health care system that is under resourced with a population that is still ill informed, ill equipped, facing a dwindling medical supplies and income to protect themselves from the virus that has so far killed...

One of the thriving indigenous oil distribution companies, Gomeju Oil Ethiopia, is to join the aviation fuel market by building a jet fuel depot at the Addis Ababa Bole International Airport at a cost of 200 million birr. Founder and CEO of Gomeju Oil Ethiopia, Tewodros Yeshiwas, told The Reporter that his company has secured a plot of land from Ethiopian Airports...

The Economic Commission for Africa (ECA) disclosed that African states need an immediate emergency economic stimulus to the tune of USD 100 billion to address the impacts of the COVID-19 crisis.  In a statement, the ECA indicated that the waiver of all interest payments, estimated at USD 44 billion for 2020, and the possible extension of the waiver to the...

Africa’s largest carrier, Ethiopian Airlines, has lost USD 190 million revenue in just two months’ time due to the flight disruptions in connection with the COVID-19 outbreak throughout the world.   In an exclusive interview with The Reporter Ethiopian Airlines Group CEO Tewolde Gebremariam said that Ethiopian has lost USD 190 million revenue in the month of February and March. “It is not...

The aircraft accident investigation interim report on the Ethiopian Airlines B737-8 MAX jetliner accident released on Monday by the Accident Investigation Bureau (AIB) highlighted major design flow with the aircraft that cost a heavy toll of life. Flight ET302 that departed the Addis Ababa Bole International Airport on March 10, 2019 carrying 149 passengers en route to Nairobi Kenya crashed...