Business

IFC Considers $80 Million Loan to Back MIDROC’s Sheraton Addis Expansion and New Hotel Project

Addis Ababa, Jan. 22, 2026 — The (IFC) is considering an $80 million A-loan to support the refurbishment of the landmark Sheraton Addis and the construction of a new adjacent hotel by , according to an Environmental and Social Review Summary (ESRS) disclosed this week. The proposed financing targets two major components: the ongoing remodeling

January 22, 2026 • By Addis Insight

Business

Ethiopian Investment Holdings Drives $250 Million Flagship Hotel Push in Addis Ababa

Ethiopia is accelerating a shift toward active ownership of state assets, placing hospitality and luxury hotels at the center of a broader strategy to unlock value from underutilized public land and infrastructure. In a recent presentation, Dr. Brook Taye, chief executive officer of Ethiopian Investment Holdings (EIH), said the government is moving away from passive

January 22, 2026 • By Addis Insight

Business

How Ethiopian Airlines Turned Air Congo Into a Domestic Power

In just 12 months, the Democratic Republic of the Congo’s aviation landscape has undergone a tectonic shift. Air Congo, the joint venture between the DRC government and Ethiopian Airlines Group, has officially captured a staggering 43% of the domestic market. The performance marks a significant victory for Ethiopian Airlines (ET), the continent’s largest carrier, as

January 22, 2026 • By Addis Insight

Business

MIDROC Investment Group Acquires Historic Wabi Shebele Hotel, Plans Marriott Autograph Collection Renovation

Addis Ababa — MIDROC Investment Group has acquired the historic Wabi Shebele Hotel, marking a major investment in Ethiopia’s hospitality sector ahead of the country’s selection to host the 32nd United Nations Climate Change Conference (COP32). Under the agreement, the hotel will undergo a comprehensive renovation and be repositioned as a Marriott Autograph Collection property,

January 21, 2026 • By Addis Insight

Business

17 New Levies: Ethiopia Broadens Disaster Fund Financing Across Banks, Telecoms, and Transport

Ethiopia has enacted a sweeping framework to finance its Disaster Risk Response Fund, drawing contributions from banks, insurers, telecom operators, transport services, fuel suppliers, and government budgets, according to Federal Negarit Gazette No. 2 published on November 11, 2025. The regulation establishes mandatory contribution rates across 17 revenue streams, signaling a shift toward a more

January 21, 2026 • By Addis Insight

Business

Boeing and Ethiopian Airlines Announce Order for Nine 787 Dreamliners

Addis Ababa, Jan. 20, 2026 — Boeing and Ethiopian Airlines have announced a firm order for nine 787 Dreamliner aircraft, reinforcing the carrier’s long-haul expansion strategy as global travel demand continues to rise. The new order centers on the 787-9 variant, which Ethiopian Airlines will deploy to grow its international network that currently spans 145

January 20, 2026 • By Addis Insight

Business

Commercial Bank of Ethiopia Rolls Out CBE Connect App to Streamline Cross-Border Transfers

Commercial Bank of Ethiopia has launched a new digital wallet application, CBE Connect, as the lender moves to simplify formal remittance flows into the country and expand its suite of app-based financial services. The app, developed in partnership with StarPay Financial Solutions—a sister company of Eagle Lion Systems—is designed to allow users to send money

January 20, 2026 • By Addis Insight

Business

Ethiopia Freezes 10 Payment Gateways in Fintech Crackdown

Disclaimer: The Telebirr logo was used in a previous version of this article. We have since replaced it, as its use created confusion. We apologize to anyone who may have been misled by the inclusion of the logo. Ethiopia’s push to rein in its fast-expanding digital finance ecosystem took a decisive turn late last year,

January 20, 2026 • By Addis Insight

Business

IMF Clears $261 Million Disbursement for Ethiopia as Reforms Deliver Stronger Growth

Addis Ababa / Washington, DC — January 16, 2026 The has approved the fourth review of Ethiopia’s program under the Extended Credit Facility (ECF), unlocking an immediate disbursement of about $261 million to support the country’s balance-of-payments and fiscal needs. The latest approval brings total IMF disbursements to Ethiopia to roughly $2.18 billion, under a

January 17, 2026 • By Addis Insight

Business

Commercial Bank of Ethiopia Launches StarPay, Advancing the Country’s Digital Banking Push

The (CBE) has officially launched , a new digital payment and banking application designed to elevate Ethiopia’s digital financial ecosystem and expand access to fast, convenient, and modern banking services. The announcement was made during an official launch event, with remarks delivered by , Vice President of Corporate Service Excellence at CBE. Speaking at the

January 17, 2026 • By Addis Insight