Ethiopia’s steel industry is poised for significant growth as the country embarks on massive infrastructural developments to modernize its economy. In a recent exclusive interview with CNBC Africa, Bhavesh Chandaria, CEO of Ethiopian Steel PLC, shared insights into the industry’s current state and future prospects. The last few years have been challenging due to global...Read More

The Ethiopian Securities Exchange (ESX) has declared the successful conclusion of its capital-raising initiative, exceeding its initial fundraising target by over two-fold. The effort, initiated in November 2023 and supported by extensive management efforts and roadshows in Addis Ababa, Nairobi, and London, garnered significant interest from both domestic and foreign investors. The Exchange secured ETB 1.51 billion (US$ 26.6...Read More

Half a dozen workers were lounging on a bench outside a factory shed on the outskirts of Addis Abeba during working hours last week. The company’s expansive compound on 10hct of land does little to resemble a plant in active operation. Inside the factory, a lanky man dressed in a blue gown and wearing a...Read More