Diamond drilling at Tulu Kapi in 2012, (Photo: Kefi Minerals)Addis Abeba – Kefi Gold & Copper PLC has achieved a significant milestone in securing funding for its high-grade Tulu Kapi gold project, with the approval of a $320 million financial package by the lead lender. The Tulu Kapi gold project, located 28km east of Ayra-Gulliso town in the West Wollega zone of the Oromia region, represents a significant development in Ethiopia’s mining sector, being the first industrial-scale mining initiative in the country for approximately 30 years. The project has garnered the necessary approvals from key syndicate members and has received supportive indications from the Ethiopian Government. Foreign direct investment in Tulu Kapi is projected to surpass $400 million by 2025. The launch of the Tulu Kapi gold project is anticipated in the first half of 2024, contingent on the completion of the necessary preparations and receiving final approvals.

The fintech ecosystem has rapidly evolved to become a crucial component of the global financial landscape, revolutionizing the way we transact, invest, and manage our finances. According to the International Trade Administration, by 2025 half a billion people in Africa will be e-commerce users. Fintech Adoption in AfricaNot only are businesses integrating fintech solutions into the their ecommerce business models, but African governments are also implementing the technology to enhance and improve their services. According to the Harvard Business Review Kenya is becoming a hub for Fintech innovation. The report presents a good case of the pain points and challenges holding Africa back from taking advantage of the opportunities that exist with the adoption of ecommerce and its associated technology.

We have to rebuild trust in our future by moving beyond crisis management, looking at the root causes of the present problems, and building together a more promising future,” said Klaus Schwab, Founder and Executive Chairman, World Economic Forum. An estimated 1,600 business leaders, including 800-plus of the world’s top CEOs and chairs from the World Economic Forum’s Members and Partners, will participate. More than 200 members of the Forum’s Global Shapers, Young Global Leaders and Social Entrepreneurs communities will join to showcase local innovations and solutions. “At a time when global challenges require urgent solutions, innovative public-private collaboration is necessary to convert ideas into action,” said Børge Brende, President, World Economic Forum. The World Economic Forum Annual Meeting 2024, taking place on 15-19 January in Davos-Klosters, Switzerland, convenes the world’s foremost leaders under the theme “Rebuilding Trust.”

Ethiopian Prime Minister Abiy Ahmed's stated ambition to secure access to the Red Sea is a source of tension between the Horn of Africa nation and its neighbors. In Somalia, Turkish nongovernmental organizations (NGOs) and companies are extensively active in education, energy and finance. Since President Recep Tayyip Erdoğan visited the country in 2011, Türkiye has built an 80,000-square-meter (861,112-square-foot) embassy in Mogadishu, its biggest embassy in Africa. After the port deal was announced, Türkiye, Egypt and other allies pledged their support for Somalia. The separation resulted in Ethiopia losing direct access to the Red Sea and key ports.

It has been revealed via the Boeing Orders & Deliveries page that Qantas has put in an order for 12 more Boeing 787 Dreamliners last month. Without further ado, let’s get into it…Qantas Orders 12 More Boeing 787 Dreamliners…BriYYZ from Toronto, Canada, CC BY-SA 2.0 https://creativecommons.org/licenses/by-sa/2.0, via Wikimedia CommonsSuch an order highlights strong news for Boeing as a continuation of a relationship with Qantas, especially in the context of battling against Airbus for orders. Boeing sold a grand total of 371 aircraft in December, with this broken down into the following:40 737 MAXs for Avolon. 40 737 MAXs for Lufthansa. 12 787 Family aircraft for Qantas.

Of the 15,151 candidates examined in December 2023, a total of 6,517 employees (43%) succeeded in attaining the necessary passing marks. The purpose of this evaluation was to gauge the competency and qualifications of the city’s employees. Tassew Gebre, the head of the Public Service and Human Resource Development Bureau, provided a detailed breakdown of the results. The evaluation also encompassed 10,257 members of the general staff, of whom approximately 50% (5,095 employees) passed. In sum, 15,592 employees and managers had initially registered for the examination, which was conducted under stringent confidentiality measures by Addis Ababa University and Kotebe Metropolitan University.

Ethiopia has formulated a logistics master plan to enhance and strengthen its logistics system. A validation workshop for the first phase of the plan took place, where the State Minister of Transport and Logistics, Denge Boru, emphasized the importance of regular review and improvement of the logistics sector. The National Logistics Strategy (NLS) was previously developed to address shortcomings, and the new master plan aims to improve the country's logistical competitiveness. The master plan is seen as crucial for Ethiopia's economic development, with a focus on global competitiveness and addressing challenges in the logistics sector. DT Global, an international consultant, was involved in developing the Ethiopian Logistics Master Plan.

In the first five months of the current fiscal year, Ethiopia earned USD 184.7 million from flower production, according to the Ministry of Agriculture. Abdela Negash, the Executive Director of Horticulture Development at the Ministry of Agriculture, emphasized ongoing efforts to increase job opportunities and foreign exchange earnings in flower cultivation. Abdela highlighted the need for better success in the future, addressing misconceptions about flower cultivation, ensuring coordination, and solving problems related to land supply for cultivation. In December last year, Ethiopian cut flower producers initiated partial trial shipments of flowers to Europe by sea, marking a significant development in the sector. The objective of the trial shipment was to deliver the flowers in excellent condition to the Netherlands within a maximum of four weeks.

Ethiopia and United Kingdom (UK) have finalized to ink the Memorandum of Understanding (MoU) to scale up the diplomatic ties to strategic partnership level, said Ethiopian Ambassador to UK. In an exclusive interview with The Ethiopian Herald, Ethiopian Ambassador to the UK Teferi Melesse said that the activities are ongoing to elevate the diplomatic ties between the two parties. The preparations have been finalized to sign the MoU to scaling up the diplomatic ties with UK to a strategic partnership. Furthermore, it would contribute to further widen diplomatic ties evaluating gaps, he said. Distributed by APO Group on behalf of Embassy of the Federal Democratic Republic of Ethiopia, London, UK.

After several public appearances at the end of 2023, during which he demanded an outlet to the Red Sea for his country, Ethiopian prime minister Abiy Ahmed on 1 January signed a memorandum of understanding in Addis Ababa with the president of Somaliland, Muse Bihi Abdi. There's more to this story Get unlimited access to our exclusive journalism and features today. Our award-winning team of correspondents and editors report from over 54 African countries, from Cape Town to Cairo, from Abidjan to Abuja to Addis Ababa. Subscribe Now cancel anytime Already a a subscriber Sign In

The extended absence of rainfall has led to the devastation of crops and livestock, intensifying already high levels of acute food insecurity. From July to December 2023, over 7.3 million individuals received food aid from the government. They emphasize the critical need for immediate aid to the nearly four million people confronting “crisis” or “emergency” levels of food insecurity in the forthcoming months. In the previous month, the Famine Early Warning Systems Network (FEWS NET) issued a grave warning about the escalating food insecurity in Ethiopia. This has led to the displacement of over one million individuals and the extreme impoverishment of millions of people in Tigray, depriving them of their livelihoods.

Talk about a good pairing: An Ethiopian honey wine-tasting room just opened on Vine Street in Alexandria’s West End. The new tasting room is next door to his production room where giant vats of a half dozen wines ferment over the course of six months. Negussie uses wildflower honey from Lancaster, Pennsylvania, which he says is close to Ethiopian honey. “I grew up drinking traditional Ethiopian honey wine, and knew the way I wanted it to taste,” he said. A flight of six small glasses of wine costs $35, and bottles of wine cost between $20 and $25.

from ADANE BIKILA in Addis Ababa, EthiopiaEthiopia BureauADDIS ABABA, (CAJ News) – ETHIOPIAN Airlines Cargo and Logistics Services has commenced a freighter service to Casablanca, Morocco. This enhances the airline’s number of freighter destinations served in Africa. “We are excited to announce the launch of the freighter services to Casablanca, Morocco,” Mesfin Tasew, Ethiopian Airlines Group Chief Executive Officer, said. This addition increases Ethiopian Cargo and Logistics Services total African freighter destinations to 35 and boosts its commitment to delivering reliable and efficient services. The company is rated the largest cargo network operator in Africa and a key air cargo service provider globally.

Against the integrity of that position of trust, the US has been advancing its geopolitical interests that, at times, sail against Somalia’s strategic interest and territorial integrity. A Russian naval base in the Red Sea meant a profound impact of the geopolitical balance of power. Saudi Arabia, concerned for the future of its multi-billion dollar Red Sea Global project, wanted the deal expedited. Eritrea which considers a deal that would grant Ethiopia a naval power in the Red Sea a national threat wanted the deal aborted. Egypt’s agricultural industry is wholly dependent on the flow of the Nile which is already reduced by Ethiopia’s mega dam.

Last week’s accident involving a Boeing Co. 737 Max 9 not only resulted in the grounding of scores of jets, but could complicate a deferred prosecution agreement that Boeing struck with the Justice Department in 2021 that was set to expire over the weekend. That deal resolved a probe into Boeing following the crashes of Lion Air Flight 610 in October 2018 and Ethiopian Airlines Flight 302 in March of 2019, which together killed 346 passengers and crew. The agreement allowed the DOJ to dismiss a criminal charge against Boeing if the company demonstrated that it had beefed up its compliance programs.