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Ethiopian Airlines pioneers in converting B767 passenger aircraft into freighter
Spread the NewsThe $14 mln worth conversion is the first in Africa Ethiopian Airlines Group announced the completion of passenger to freighter conversion of its single B767 aircraft. Ethiopian partnered with Israel Aerospace Industries (IAI) and launched a B767-300ER freighter conversion line at Ethiopian Maintenance, Repair and Overhaul (MRO) facilities in Addis Abeba. “We’ve been…

Haile Resort’s new five-star Hotel to be inaugurated in Addis Abeba
Spread the NewsA five-star hotel, which was constructed by Haile Resorts and Hotels Group, around Lamberet area in Addis Abeba, is going to be inaugurated soon. The new hotel is the 8th branch for Haile Resorts and Hotels Group and it’s named “Haile Grand Hotel”. Haile Resorts and Hotels is owned by Haile Gebresilassie; an…

Awash Bank bags net profit of 3.39 bln Birr
Spread the NewsAwash Bank, among the most profitable private banks in Ethiopia has reported a record high net profit of 3.39 billion Birr during the financial year of 2020/21 that was concluded in July 2021. The profit before tax was 4.8 billion Birr. The profit was not only a record high in the history of…

DHL GF expands its African footprint with Ethiopia Airlines JV
Spread the NewsDHL Ethiopian Airlines Logistics Services, a joint-venture between DHL Global Forwarding (DGF) and Ethiopian Airlines, specialising in air, ocean and road services, has opened a container freight station in Ethiopia. The 800 sqm facility is at Modjo Dry Port, close to the capital, Addis Abeba. Its opening coincides with DGF obtaining a container…

Enat Bank reports gross profit of 289 mln Birr
Spread the NewsEnat Bank Share Company has reported a gross profit of 289 million Birr in the concluded fiscal year in June 30, 2021. Its paid up capital has also grew to 1.5 billion Birr from 1.3 billion Birr in the previous year. Meanwhile, its total assets hs reached 14.6 billion Birr. “The number of…

At CoM2022, experts address effects of Russia-Ukraine crisis on Africa
Spread the NewsThe ECA Sub-Regional Office for Southern (SRO-SA) in collaboration with the Angolan Government and the United Nations Resident Coordinator’s Office in Angola held a side event at the margins of the 54th session of the ECA Conference of African Ministers of Finance, Planning and Economic Development to offer African countries a platform for…