Africa’s richest man, Aliko Dangote has announced that Dangote Group will set up two companies in Ethiopia which will be engaged in sugar investment and the other for producing cement bags.

On Oct. 21, 2016, S&P Global Ratings affirmed its 'B/B' long- and short-term foreign and local currency sovereign credit ratings on The Federal Democratic Republic of Ethiopia (Ethiopia). The outlook is stable.

Ethiopia’s economy is expected to overtake Kenya’s this year, buoyed by massive government spending on infrastructure that has kept the Horn of Africa nation in the list of the world’s fastest economies in the past 10 years.

Japan Tobacco Inc. (JT), the seller of Camel and Winston cigarettes outside the U.S., announced on Sunday it had won a bid to buy 40 percent of the National Tobacco Enterprise S.C. from the Ethiopian government for a record $510 million.