Ethiopia

    Fitch Ratings has affirmed Ethiopia's Long-term foreign and local currency Issuer Default Ratings (IDRs) at 'B'. The issue ratings on senior unsecured foreign currency bonds are also affirmed at 'B'. The Outlooks on the Long-term IDRs are Stable. The Country Ceiling and the Short-term foreign currency IDR are also affirmed at 'B'.

    Pan-African banking group Ecobank Transnational Incorporated, has opened its first Ethiopian representative office in Addis Ababa. This brings the total number of countries in Sub-Saharan Africa in which Ecobank has a presence to 35.

    Ethiopian Airlines has announced that it has become the strategic partner of the new Malawian Air with 49% equity shareholding. The remaining 51% of the shares will be held by the Malawian Government and Malawian private investors.

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