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Ethiopia
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for the 26 Jan - 01 Feb
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Commercial Bank of Ethiopia has launched CBE Connect, a digital platform developed with fintech StarPay Financial Technologies, to support cross-border transfers and multiple financial services. The platform enables direct international transfers into Ethiopian bank accounts and wallets in several currencies, including dollars. Officials say it aims to formalize remittance flows, expand financial inclusion, and reduce reliance on informal transfer networks under the Digital Ethiopia 2030 strategy.
Ethiopian Airlines has ordered nine Boeing 787-9 Dreamliner aircraft to strengthen its long-haul fleet as international travel demand rises. The airline said the jets will support expansion across its global network of more than 145 international destinations. It has also completed the purchase of 11 Boeing 737 MAX aircraft, reinforcing its fleet modernization strategy despite ongoing delivery delays affecting Boeing customers worldwide.
Kefi Gold and Copper, listed on AIM, fully signed the $240 million loan for its Tulu Kapi gold project in Ethiopia. This follows the completion of a $100 million equity package, including subordinated streams, royalties, and Ethiopian preference shares. Kefi has begun community resettlement, land clearing, plant construction, procurement, and electricity connection. Full financial close remains on track for February, enabling ongoing project development and exploration.
Ethiopian Airlines will suspend passenger services between Addis Ababa and Atlanta from early February 2026, according to schedule data. The final flight is set for Feb. 1, ending the carrier’s only route into the southeastern United States. The airline cited softer-than-expected demand and competitive pressures on transatlantic routes. Ethiopian will continue US passenger services solely via Washington Dulles during the suspension.
The head of the African Continental Free Trade Area, Wamkele Mene, has urged African countries to accelerate economic integration as global trade fractures and supply chains weaken. Speaking at a World Economic Forum-linked meeting, Mene said Africa must build a unified domestic market, unlock local capital, and cut infrastructure and logistics costs. He noted that AfCFTA, now ratified by 50 countries, is shifting from negotiations to implementation.
Shares of Allied Gold have nearly quadrupled over the past year as the company prepares to start gold production at its Kurmuk project in western Ethiopia. CEO Peter Marrone said the company will begin commissioning in April, with full production expected in the third quarter of 2026. Allied Gold plans to expand Kurmuk’s resources to five million ounces while maintaining annual output of about 290,000 ounces.