Ethiopian Airlines Group has signed a strategic partnership with the African Development Bank (AfDB) to develop Bishoftu International Airport, a $7.8 billion project that is set to become Africa’s largest aviation hub.
The Ethiopian Ministry of Finance confirmed the partnership on Saturday following the signing of a letter of intent on Friday. The agreement marks a significant step in Ethiopia’s ambition to expand its aviation sector and position itself as a major transit hub in Africa.
AfDB President Akinwumi Adesina reaffirmed the bank’s strong support for the project, calling it a “continental flagship initiative” that will drive economic growth, trade, and connectivity across Africa. He also commended Ethiopia’s strong economic performance, noting the country’s more than 8% growth rate in 2024.
The new Bishoftu International Airport, located about 20km southeast of Addis Ababa, will significantly boost Ethiopia’s aviation capacity. Once completed in 2040, it will handle over 60 million passengers annually, up from the current 17 million at Addis Ababa Bole International Airport.
Ethiopian Airlines Group CEO Mesfin Tasew emphasized the transformative impact of the project, stating, “This new facility will solidify Ethiopia’s position as Africa’s leading aviation hub, allowing us to meet growing demand and enhance connectivity across the continent and beyond.”
Finance Minister Ahmed Shide highlighted the AfDB’s broader contribution to Ethiopia’s development, noting that the bank has already invested over $1.2 billion in key sectors. He urged continued collaboration to support Ethiopia’s macroeconomic reforms and infrastructure expansion.
The Bishoftu project is expected to enhance Ethiopia’s global reach, boost tourism, and create new economic opportunities. With Ethiopian Airlines at the forefront of African aviation, the new airport will improve both passenger and cargo services, ensuring Addis Ababa remains a critical transit point for travelers worldwide.
AfDB’s Vice President for Regional Development, Integration, and Business Delivery, Nnenna Nwabufo, emphasized the project’s strategic importance, “This partnership reflects our commitment to investing in infrastructure that enhances regional integration, strengthens economies, and provides long-term benefits for millions of people.”
As the Ethiopian government continues its modernization efforts, the Bishoftu International Airport stands as a symbol of the country’s long-term vision for growth, innovation, and global competitiveness.
