African Development Bank offers $500m for Ethiopia mega airport
The massive travel hub in Bishoftu, roughly 45 kilometres (28 miles) south of the capital Addis Ababa, will cost an estimated $10 billion and be able to handle some 110 million passengers a year at full capacity, the AfDB said.
Egypt's Cairo International Airport took the title of Africa's busiest in 2024, followed by Johannesburg's O.R. Tambo in South Africa, according to the Official Aviation Guide.
Partly financed by national carrier Ethiopian Airlines, the Bishoftu hub is expected to replace the capital's Bole Airport, which can handle up to 25 million passengers annually.
Construction is scheduled to begin at the end of 2025.
"The Bank has itself earmarked up to $500 million, subject to Board approval, to anchor the funding," the AfDB said.
In a statement, it described the airport as a "transformational regional integration project" that would enhance "continental integration and connectivity".
State-owned Ethiopian Airlines is Africa's largest airline, with revenues of $7.6 billion for the 2024/25 fiscal year.
Founded in 1964, the AfDB is one of the world's largest multilateral development banks.
It is funded by member subscriptions, loans raised on global markets as well as repayments and income from loans.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Bawaba
a day ago
- Al Bawaba
Network International expands portfolio with Absa Bank
Network International (Network) ( a leading enabler of digital commerce in the Middle East and Africa, has been chosen by Absa Business Banking, one of Africa's leading business banks, as its digital payments technology will provide Absa Business Banking with end-to-end payment processing capabilities through a single payments platform and fully outsourced managed services uptake of Payments as a Service (PaaS) is fuelled by Africa's growing cloud adoption, which can be likened to the continent's rapid growth in smartphone ownership. According to analysts, cloud adoption in Africa is accelerating rapidly, nearing levels seen in North America and China.'This new partnership marks a significant milestone for our company in Southern Africa and opens new avenues for growth and innovation. The growing adoption in cloud technologies has perfectly primed both fintech and traditional financial institutions to turbo-charge digital innovation. Working with managed service providers allows institutions to quickly and simply deliver new products and services to an increasingly digitally savvy customer,' comments Richard Kadiaka, Regional Managing Director, Southern Africa – Processing Services, Network fleet and commercial cardsFuel card fraud is a challenge for fleet managers which can lead to substantial financial losses over time. At the same time, connected vehicle concepts, digitisation of payment channels, and a demand for self-service management of cards requires enhanced stability and innovation in this part of its efforts to enhance its offering in the fleet and commercial card space, Absa has partnered with Network International. Through this collaboration, services will include card management for fleet cards and commercial prepaid cards, transaction switching and authorisation, integration with fleet management software, direct connectivity to Absa Bank systems, card tokenisation, digital wallets, an online self-service platform and an expense management solution.'As the 'Bank of the Entrepreneur,' we are committed to delivering seamless, secure and smart payment solutions to meet our clients' specific needs,' says Banie Claasen, Managing Executive for Lending Products at Absa Business Banking. 'By combining our deep sector expertise with Network International's leading technology, we're empowering businesses with enhanced control and security, greater transparency and a frictionless payment experience. This collaboration underscores our commitment to innovation and customer-centricity.'A new dawn for African paymentsAfrican financial institutions are undergoing a seismic shift, with Africa's financial services market potentially growing to about 10 percent per annum, reaching $230 billion in revenues by 2025 according to McKinsey. The growth will include many new payment products as more organisations understand the importance of offering safe omni-channel solutions. Distributed by APO Group on behalf of Network International.
Jordan Times
4 days ago
- Jordan Times
African Development Bank offers $500m for Ethiopia mega airport
ADDIS ABABA — The African Development Bank (AfDB) said Monday it will contribute $500 million to the construction of an airport near the Ethiopian capital expected to become the continent's largest. The massive travel hub in Bishoftu, roughly 45 kilometres (28 miles) south of the capital Addis Ababa, will cost an estimated $10 billion and be able to handle some 110 million passengers a year at full capacity, the AfDB said. Egypt's Cairo International Airport took the title of Africa's busiest in 2024, followed by Johannesburg's O.R. Tambo in South Africa, according to the Official Aviation Guide. Partly financed by national carrier Ethiopian Airlines, the Bishoftu hub is expected to replace the capital's Bole Airport, which can handle up to 25 million passengers annually. Construction is scheduled to begin at the end of 2025. "The Bank has itself earmarked up to $500 million, subject to Board approval, to anchor the funding," the AfDB said. In a statement, it described the airport as a "transformational regional integration project" that would enhance "continental integration and connectivity". State-owned Ethiopian Airlines is Africa's largest airline, with revenues of $7.6 billion for the 2024/25 fiscal year. Founded in 1964, the AfDB is one of the world's largest multilateral development banks. It is funded by member subscriptions, loans raised on global markets as well as repayments and income from loans.
Al Bawaba
07-08-2025
- Al Bawaba
DP World Expands Vehicle Capacity at Jebel Ali to Meet Surging Demand
DP World has significantly expanded its automotive logistics capacity to meet growing demand at Jebel Ali Port, with the launch of a new 2.6 million square foot vehicle storage yard at Terminal 4. The upgrade adds 13,000 CEUs (car equivalent units), raising the port's total storage capacity to 75,000 CEUs, and further cements Dubai's position as the Middle East's leading hub for automotive expansion includes an 800-metre quay that can handle up to three roll-on/roll-off (RoRo) vessels simultaneously. By reallocating RoRo operations from Terminal 1 to the new purpose-built zone at Terminal 4, DP World is improving berth availability, speeding up turnaround times and expanding port space to meet growing customer demand and absorb future Bin Damithan, CEO and Managing Director, DP World GCC, said: 'Dubai is scaling up its role as a global automotive trade hub and this expansion gives car manufacturers, dealers, and logistics providers faster, more reliable access to key markets across the Middle East, Africa, and beyond.'Shahab Al Jassmi, SVP - Commercial, Ports and Terminals, DP World GCC, added: 'This is a customer focused investment. More yard space, quicker service and reliable berth availability are all designed to help the automotive supply chain grow.'The announcement comes amid strong growth in vehicle volumes. In the first half of 2025, Jebel Ali handled 545,000 vehicles at the port, up 28% year-on-year. Imports accounted for 65% of the total, primarily from China, Japan, Thailand, India and South Korea. The expansion is part of DP World's broader automotive strategy, which includes plans for a 20 million sqft advanced car market in Dubai, set to be the largest in the world. Together, these projects support Dubai's D33 agenda to double its economy by 2033 and become a global leader in smart logistics.
