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Ethiopian Business Review, Bole Homes, Behind the Chancery of the Embassy of Argentina, Addis Ababa (2026)

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Bole Homes, Behind The Chancery Of The Embassy Of Argentina

06/06/2026

Air Congo to Launch Brussels Flights Using Ethiopian Airlines Aircraft

Jun 6, 2026

Air Congo is set to launch direct flights between Kinshasa and Brussels from July 1, becoming the first Congolese carrier to operate the route in years through a wet-lease arrangement with Ethiopian Airlines, according to aviation intelligence platform ch-aviation.

The airline plans to operate five weekly flights between Kinshasa and Brussels using a Boeing 787-8 supplied by Ethiopian Airlines. The arrangement allows Air Congo to serve the European market despite restrictions that continue to prevent airlines certified in the Democratic Republic of the Congo (DRC) from operating in the European Union due to safety oversight concerns.

According to ch-aviation, Air Congo Chief Executive Officer Mesfin Biru previously indicated that the airline intends to deploy two Boeing 787-8 aircraft leased from Ethiopian Airlines as part of its long-haul expansion strategy. Future international destinations under consideration include Paris and Dubai.

The launch will introduce competition on the Kinshasa-Brussels route, which has been served exclusively by Brussels Airlines in recent years. Ethiopian Airlines and Air France currently connect the two cities through their respective hubs in Addis Ababa and Paris.

Air Congo, which is 51 percent owned by the DRC government and 49 percent by Ethiopian Airlines, continues to rely heavily on the Ethiopian carrier for operational support. Ethiopian Airlines manages the airline's day-to-day operations and provides aircraft, maintenance oversight, technical support, and training services.

The development highlights Ethiopian Airlines' growing role in supporting aviation ventures across Africa through its multi-hub partnership model. The airline has established or partnered with carriers in several African countries as part of a broader strategy to expand connectivity and strengthen regional aviation networks.

Air Congo also recently expanded its fleet with the delivery of a second ATR 72-600 aircraft from Ethiopian Airlines. According to ch-aviation, the aircraft is already serving domestic routes and selected regional destinations, bringing the airline's fleet to five aircraft, including three Boeing 737-800s.

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06/06/2026

The Future of Retail Banking Customer Engagement in Africa

African retail banking is undergoing a profound transformation linked to customer engagement and there is a need for promoting instant rewards to the loyal customer.

Customers are becoming increasingly digital, competition from fintechs is intensifying, and traditional loyalty programs are struggling to maintain engagement

The Shift from “Earn Later” to “Reward Now”

Modern consumers are accustomed to instant experiences. Whether ordering food, making digital payments, or accessing online services, customers expect immediate value.

Instant rewards address these challenges by rewarding customers immediately when they complete desired actions.

Actions such as account activation, first card transaction, savings milestones, loan repayments, referrals, and digital banking adoption can trigger rewards instantly.

Xoxoday with its flagship product PLUM enables banks to distribute digital rewards, gift cards, prepaid cards, cashback alternatives, vouchers, and experiences through APIs, SMS, email, WhatsApp, mobile banking apps, and web platforms.

The platform supports rewards across more than 175 countries and offers millions of redemption choices globally.

The future of retail banking will not be won solely through products and pricing. It will be won through customer experience, engagement, and relevance.

As African banks compete with fintechs, digital wallets, and neobanks, instant rewards offer a powerful mechanism to influence customer behaviour at critical moments of the banking journey.

Banks that reward customers immediately for the behaviours they want to encourage will create stronger relationships, improve loyalty, and accelerate digital growth.

The question is no longer whether rewards matter.

The question is whether your customers are willing to wait for them.

Please contact us on [email protected] and we shall support your venture of instant customer rewards linked to your retail banking strategy.

05/06/2026

By 2030, Artificial Intelligence Could Use More Water Than 1.3 Billion People, UN Warns

Jun 5, 2026

A new United Nations report has warned that the rapid expansion of artificial intelligence could triple the amount of electricity used by data centres and consume as much water as the entire population of sub‑Saharan Africa, about 1.3 billion people by the end of this decade.

The study, published by the UN University Institute for Water, Environment and Health, found that by 2030, data centres powering AI could use 945 terawatt‑hours of electricity annually, which is nearly three times what the whole world used in 2015.

But the water figure is even more striking. 9.3 trillion litres every year, enough to meet the basic daily water needs of every man, woman and child living in sub‑Saharan Africa.

The report also warned that AI infrastructure could generate up to 2.5 million metric tons of electronic waste annually by 2030 and cover more than 14,000 square kilometres of land, an area roughly 27 times the size of Addis Ababa (the capital covers about 527 square kilometres).

One of the study's lead authors, Miriam Aczel, said that focusing only on carbon emissions misses the bigger picture. "If we keep judging AI sustainability by carbon alone, we might think that renewables make AI infrastructure clean but that is solving one problem while creating other problems, often in places that didn't ask for it," she said.

The UN report urges governments to force tech companies to disclose their real environmental footprint not just carbon, but water and land use. Without that, the researchers warn, the AI revolution will leave some of the world's poorest regions carrying an unfair share of the burden.

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05/06/2026

China Pilots Weather Index Insurance for Coffee in Ethiopia’s Sidama Region

Jun 5, 2026

Chinese researchers have launched pilot weather index insurance programmes for coffee in Ethiopia’s Sidama region, adapting mature agricultural risk management tools to help smallholder farmers cope with climate‑driven yield losses.

According to Chinese business publication Yicai, pilot projects based on China's weather index insurance model are underway in Ethiopia's Sidama Region, one of the country's leading coffee-producing areas.

The initiative, led by Ye Tao, a professor at Beijing Normal University’s Institute of Disaster Risk Science, follows the design of China’s first coffee index insurance for Yunnan province in recent years.

Unlike conventional agricultural insurance, weather index insurance compensates farmers when predefined weather indicators such as rainfall, temperature or drought conditions exceed agreed thresholds, rather than requiring assessments of individual farm losses.

China first experimented with weather index insurance for rice in 2009 and has since developed over 2,000 such products, ranking first globally. However, the report noted that international awareness remains low due to non‑disclosure of financial data.

Previous weather index insurance pilots in Burkina Faso and Mali around 2010 were largely discontinued after the pilot phase ended. The Sidama pilot, alongside Yunnan, represents a renewed effort to apply index‑based insurance to high‑value cash crops such as coffee, which has seen record global prices partly due to climate‑induced lower yields.

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05/06/2026

CANAL+ Becomes First French Company to List on Johannesburg Stock Exchange

Jun 5, 2026

CANAL+ has become the first French company to list on the Johannesburg Stock Exchange (JSE), marking a significant milestone for both the media giant and Africa’s largest stock market.

According to CANAL+, the secondary listing on the JSE follows its primary listing on the London Stock Exchange in December 2024 and forms part of the company's strategy to deepen its presence in high-growth African markets while broadening its investor base.

CANAL+ operates in more than 70 countries and serves over 42 million subscribers worldwide. Africa represents its largest subscriber base, accounting for 23 million customers across more than 40 countries.

The company strengthened its presence on the continent through its acquisition of MultiChoice, one of Africa's largest pay television operators.

According to the JSE, the listing was facilitated through its fast-track secondary listing framework, allowing CANAL+ to retain its primary listing in London while accessing African capital markets.

Following the listing, the total number of companies on the JSE stands at 263, with a combined market capitalisation exceeding R24.96 trillion.

The group generated €9 billion in annual revenue and employs approximately 15,000 people globally.

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05/06/2026

Ethiopia's Refugee Response Only 23% Funded as UNHCR Receives $77.5 Million of $340.9 Million Required

Jun 5, 2026

The United Nations High Commissioner for Refugees (UNHCR) has secured only 23% of the funding required for its Ethiopia operations in 2026, leaving a financing gap of more than USD 263 million as humanitarian needs continue to rise.

According to UNHCR's latest funding update as of May 31, 2026, the agency requires USD 340.9 million this year to support refugees, internally displaced people and host communities in Ethiopia, including assistance related to the Sudan crisis. However, it has received only USD 77.5 million so far. The funding gap represents approximately 77% of the agency's total financial requirements for the year.

The European Union emerged as the largest earmarked donor, contributing USD 11.2 million, followed by country-based pooled funds with USD 10.1 million and the Netherlands with USD 6.6 million. Other contributors include the United States, Japan, Sweden, Canada, Germany and Switzerland.

UNHCR said Ethiopia's financial requirements cover both its regular refugee operations and the humanitarian response linked to the conflict in Sudan.

Ethiopia remains one of Africa's largest refugee-hosting countries, accommodating refugees from neighboring countries including South Sudan, Sudan, Somalia and Eritrea. Humanitarian agencies have repeatedly warned that rising displacement, climate-related shocks and ongoing regional conflicts are increasing pressure on already stretched resources.

UNHCR noted that its funding figures include both direct contributions and allocations from softly earmarked and unearmarked resources that can be redirected to priority operations throughout the year.

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05/06/2026

Africa Finance Corporation Raises Record $2 Billion Syndicated Loan for Infrastructure Push

Jun 5, 2026

Africa Finance Corporation (AFC) has successfully raised a record $2 billion syndicated loan, upsized from an initial $1.6 billion, in a landmark transaction that underscores strong global investor confidence in the continent's infrastructure-led growth strategy, according to a press release from the Corporation.

The facility attracted broad international participation, with banks from Asia Pacific accounting for 35 percent, Europe 35 percent, the Middle East 25 percent and Africa 5 percent. The transaction closed against a backdrop of heightened geopolitical uncertainty and market volatility.

The corporation said the new funding will support investments in critical sectors including energy, transportation, logistics, telecommunications and industrial development, areas considered essential to boosting trade, job creation and economic growth across the continent.

The deal also follows a series of credit rating upgrades for AFC. Earlier this year, S&P Global Ratings assigned the corporation an 'A' long-term rating with a positive outlook, complementing its existing investment-grade ratings from Moody's and Japan Credit Rating Agency.

Established in 2007, AFC specializes in financing and developing infrastructure projects across Africa. Since inception, the corporation has 48 member countries and has invested over US$19 billion across 36 African countries.

Focusing on sectors including power, transport, natural resources, heavy industry and telecommunications. The Corporation recently announced plans to open its first regional office outside Lagos in Nairobi.

The facility was led by a consortium of global banks including Barclays, Commerzbank, First Abu Dhabi Bank, and FirstRand Bank (through Rand Merchant Bank), among others.

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04/06/2026

Google Partners with Kenya's Tourism Ministry to Launch AI-Powered 'Magical Kenya' Transformation

Jun 4, 2026

Kenya's Ministry of Tourism and Wildlife has entered into a strategic partnership with Google Kenya to deploy artificial intelligence and cloud-based analytics across the country's tourism marketing and planning systems, aiming to double international arrivals and modernise the East African nation's destination promotion, according to multiple media reports.

The partnership, aligned with recommendations from the government-appointed Kenya Tourism Rebranding and Repositioning Taskforce, is built around the existing "Magical Kenya: Origin of Wonder" promotional platform.

At the heart of the initiative is the Tourism Pulse Data Hub, a real-time analytics dashboard hosted on Google Cloud infrastructure.

The system tracks and aggregates global Google search patterns, consumer sentiment metrics, and digital traffic flows to guide marketing strategies, policy formulation and operational decisions.

Simultaneously, a conversational trip-planning engine powered by Google's Gemini large language models is being integrated into the consumer-facing digital interface.

The AI tool will generate customised itineraries based on travellers' budget, length of stay and recreational preferences, shifting away from rigid pre‑packaged tour formats.

Precision marketing tools, including Google Analytics and Ads, will target high-intent international travellers at the exact moment they begin planning their trips, optimising conversion rates and marketing spend.

A major component of the partnership is digital skills development for Kenyan youth and tourism‑focused small and medium enterprises.

Google's skilling programmes will train local curators and SMEs to design AI‑enhanced experiences, create digital content and use Google Arts & Culture platforms to preserve heritage and promote cultural storytelling.

Kenya's tourism sector recorded unprecedented revenue of 500 billion Kenyan shillings in 2025, a 10 per cent increase from 452.2 billion shillings in 2024. Visitor numbers expanded to a record 7.9 million arrivals, up from 7.6 million the previous year.

The government aims to double international arrivals to 5 million annually by leveraging AI‑driven intelligence, cloud analytics and community‑led development.

The initiative joins a growing list of nations, including Qatar, Saudi Arabia, Ghana, Japan and Singapore that are adopting AI‑powered tourism strategies to modernise destination management, enhance visitor experiences and support sustainable development.

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04/06/2026

DHL Launches Humanitarian Logistics Academy in Sub‑Saharan Africa as Disaster Risks Rise

Jun 4, 2026

DHL Group has launched a new humanitarian logistics training programme in Sub-Saharan Africa aimed at strengthening disaster preparedness and improving aid delivery capabilities across the region.

The initiative, known as the DHL Academy of Humanitarian Logistics (DAHL), was officially launched in Johannesburg and will provide free logistics training to humanitarian organisations operating in disaster-prone areas, according to a press release issued by the company.

According to DHL Group, the programme is designed to help aid agencies improve operational readiness, reduce supply-chain bottlenecks, and accelerate the delivery of emergency assistance before and during crises.

The launch comes as humanitarian needs across Africa continue to grow due to climate-related disasters, displacement, and protracted conflicts.

DHL said the academy will focus on practical logistics disciplines, including customs procedures, dangerous goods handling, packaging standards, warehouse operations, and safety management.

According to the company, more than 650 participants from over 80 non-governmental organisations have already completed pilot training sessions globally, with 96 percent rating the programme as valuable.

DHL plans to expand the initiative across several African countries this year, including Kenya, Zambia, Malawi, Ghana, Nigeria, and South Africa.

The academy forms part of DHL's GoHelp programme, a corporate citizenship initiative focused on disaster preparedness and humanitarian response.

The GoHelp programme has supported 77 disaster deployments globally, handling more than 70,000 tons of humanitarian aid over two decades, with more than 1,000 trained DRT volunteers ready to deploy within 72 hours.

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04/06/2026

Ethiopia Nears $2.65 Billion in IMF Support Under $3.4 Billion Reform Program

Jun 4, 2026

Ethiopia is set to access a cumulative $2.65 billion under its $3.4 billion International Monetary Fund (IMF) reform program after the Fund reached a staff-level agreement on the fifth review of the country's Extended Credit Facility (ECF), paving the way for a fresh $468 million disbursement subject to Executive Board approval.

The agreement, announced on Wednesday, remains subject to approval by IMF management and the Executive Board in the coming weeks. The agreement follows a mission led by Alvaro Piris that visited Addis Ababa from May 6–20, followed by virtual discussions. Once approved, total IMF disbursements under the program will reach approximately $2.65 billion out of the facility's overall $3.4 billion envelope.

The IMF said Ethiopia has continued to make progress in implementing its Homegrown Economic Reform Agenda, with key economic indicators showing improvement through early 2026. Output, exports, foreign exchange reserves and government revenues have strengthened, while inflation has continued to moderate.

The assessment comes despite economic disruptions caused by the conflict in the Middle East, which the IMF described as a significant external shock. According to the Fund, the conflict disrupted trade routes, contributed to temporary fuel shortages and pushed up the cost of imported fuel and fertilizer.

"Even so, economic activity appears robust, with as-yet modest impacts on output growth and consumer price inflation," IMF mission chief Alvaro Piris said in a statement. However, the Fund warned that risks to Ethiopia's economic outlook have increased as global uncertainty and commodity price volatility intensified following the conflict.

The IMF said a prolonged rise in import costs could put pressure on economic growth, inflation and external balances, requiring careful policy management and prudent use of resources.
To preserve macroeconomic stability, the Fund urged authorities to maintain a tight monetary policy stance to contain inflation, continue improving the transparency and efficiency of the foreign exchange market, and strengthen domestic revenue mobilization.

The IMF also stressed the importance of accelerating structural reforms aimed at improving the business environment, strengthening the financial sector and expanding opportunities for private sector-led growth.

On debt restructuring, the Fund reported continued progress toward securing a comprehensive external debt treatment. Discussions with official creditors are advancing in line with expectations, while negotiations with bondholders remain ongoing.

The latest review forms part of Ethiopia's ECF arrangement approved in July 2024. The program has served as a key pillar supporting the country's macroeconomic reform agenda, which includes exchange rate liberalization, fiscal reforms and measures aimed at restoring debt sustainability while attracting greater private investment.

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