Ethiopian Airlines, AfDB Sign $10bn Bishoftu Mega-Airport Deal to Boost Africa's Aviation Hub Ambitions
Under the agreement, signed on Monday in the Ethiopian capital, the AfDB will act as the lead arranger for financing. The ceremony was attended by senior officials including Ethiopia's Minister of Finance Ahmed Shide, Ethiopian Airlines Group Board Chairman Lt. Gen. Yilma Merdassa, and AfDB President Dr. Akinwumi Adesina.
The Bishoftu Mega-Airport, to be developed in five phases, will feature four runways, cutting-edge passenger terminals, advanced cargo handling facilities, and capacity to handle over 100 million passengers annually once completed. Covering an estimated 3,975 hectares, the facility is expected to quadruple Ethiopia's current aviation capacity and position the country as a premier African transit hub.
Officials say the project will significantly boost employment, regional trade, and tourism, while strengthening Ethiopia's role in connecting Africa to global markets. The mega-airport will also enhance the country's ability to compete with major transit hubs in the Gulf, Europe, and Asia, capitalising on its strategic geographic location.
Ethiopia's aviation sector, anchored by its award-winning national carrier, has experienced rapid growth over the past decade. The Bishoftu project is a central pillar of the government's long-term economic development strategy, aimed at leveraging aviation to drive foreign investment and cross-continental connectivity.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Middle East
2 days ago
- Middle East
OPEN// FM, foreign trade minister mull ways of attracting investments
CAIRO, Aug 14 (MENA) - Minister of Foreign Affairs, Emigration and Egyptian Expatriates Badr Abdelatty met Thursday with Minister of Investment and Foreign Trade Hassan el Khatib to coordinate efforts in enhancing Egypt's economic standing regionally and globally. The talks focused on effective mechanisms to promote Egypt's economy and attract more foreign investments, particularly from the European Union, the United States, and other international partners. Both ministers stressed the importance of leveraging Egypt's extensive political and diplomatic network to support the state's drive to secure high-quality, sustainable investments in priority sectors such as renewable energy, industry, transport, digital transformation, and advanced technology, in line with Egypt Vision 2030 development targets. They agreed to step up institutional cooperation on external promotion through coordination between diplomatic missions and trade representation offices, targeting major markets and financial and investment institutions, and highlighting Egypt's success stories in improving the investment climate and developing infrastructure. The meeting also addressed ways to strengthen Egypt's economic footprint in Africa by enabling Egyptian companies to expand into African markets, capitalizing on their extensive experience in implementing development projects in infrastructure, agriculture, health, education, and pharmaceuticals, thus fostering regional economic integration and reinforcing Egypt's active presence across the continent. (MENA) M S H/Y R E
Mid East Info
2 days ago
- Mid East Info
UAE Minister of Foreign Trade HE Al Zeyoudi Engages with Philippines Business Council to Strengthen Bilateral Trade and Investment Ties
HE Al Zeyoudi: ' The Philippines is a key trading partner for the UAE. Our discussions today aimed to explore private sector opportunities, identify areas for greater collaboration, and address any challenges faced by businesses operating in both markets.' Abu Dhabi, UAE –August, 2025: His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, held a meeting with the Philippines Business Council in the UAE to explore expanding private sector relations between the two nations. This meeting follows the agreement of a bilateral Comprehensive Economic Partnership Agreement (CEPA) last July, aimed at enhancing trade cooperation and investment opportunities. The meeting touched on ways to build and expand partnerships between the business communities and the private sector on both sides. During the meeting, HE Al Zeyoudi highlighted the growing economic partnership between the UAE and the Philippines, noting that the total volume of non-oil trade reached approximately US$940 million in 2024. Growth has continued in 2025, with non-oil trade reaching US$257.7 million in Q1. The UAE is the Philippines' top export market among Arab and African countries as well as its 17th largest globally, demonstrating the strong foundation on which both nations can further expand collaboration. 'The Philippines is a key trading partner for the UAE in the growing ASEAN region, and we are committed to fostering stronger ties at all levels,' HE Dr. Al Zeyoudi stated. ' Our discussions today aim to explore private sector opportunities, identify areas for greater collaboration, and address any challenges faced by Philippines businesses operating in the UAE or by their Emirati counterparts operating in the Philippine market.' The Philippines is one of the fastest-growing economies in the ASEAN bloc of countries and a key logistics and manufacturing hub. In 2024, the economy grew by 5.6%, the second-fastest growing economy in the ASEAN region, which the world's fourth-largest economic bloc, boasting a combined GDP of US$4.13 trillion. With a significant Filipino diaspora residing in the UAE, working primarily in sectors such as construction, healthcare, and hospitality, the meeting also aimed to explore how these communities can further contribute to mutual prosperity from the growing economic ties. The Comprehensive Economic Partnership Agreement, which was agreed earlier this year, is expected to mitigate trade barriers, boost investment flows, and open new avenues for trade, investment and collaboration in key sectors including agriculture, financial services, and electrical equipment. The UAE-Philippines CEPA represents a significant addition to the UAE's global trade program. The CEPA is forecast to increase the UAE's GDP by US$2.4bn and increase exports to the Philippines to US$7.62 billion by 2032.
Egypt Independent
3 days ago
- Egypt Independent
Sisi: Uganda is Egypt's key partner in southern Nile Basin
CAIRO, Aug 12 (MENA) – President Abdel Fattah al-Sisi has stressed that Uganda is a key partner of Egypt in the southern Nile Basin region, expressing Cairo's aspiration that the African country can be among the primary beneficiaries of the Egyptian mechanisms designated to support development in Nile Basin countries. President Sisi's remarks came during his speech at the Egypt-Uganda Businessmen Forum, which was inaugurated Tuesday in the presence of Ugandan President Yoweri Museveni. Sisi also lauded the organization of the forum, which brings together leading business figures from both countries. He noted that the forum reflects the depth of the extended bonds of friendship between Egypt and Uganda, as well as their firm determination to expand partnerships across various fields of cooperation for the benefit of their peoples. Egypt looks forward to enhancing economic cooperation and increasing the volume of trade exchange, which reached about $133 million in 2024, and expected to double this figure, President Sisi said. He underscored the need for accelerating the formation of the Egyptian-Ugandan Joint Business Council, increasing the exchange of business delegations, and encouraging companies in both countries to boost their exports — particularly in sectors like agriculture, pharmaceuticals, building materials, electrical appliances, and other products that meet the needs of markets. The president noted that the forum is a practical step toward translating the strength of bilateral political relations into concrete projects that benefit Egyptian and Ugandan peoples, based on a win-win approach. Sisi said the private sector and entrepreneurs in both countries should be the driving force of partnership in economy, trade, and investment, while the role of governments is to provide the legal and political frameworks that enable these partnerships to thrive. President Sisi reaffirmed that Egypt, as always, extends its hand to Uganda — as a partner, brother, and friend — within a framework of mutual respect and shared interests. (MENA)
