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Ethiopian Airlines, the fastest growing and most profitable African airline, colorfully celebrated 55 years of uninterrupted service to Frankfurt, Germany on October 24, 2013.

Ethiopian CEO, Mr. Tewolde Gebremariam, attended the celebrations in Frankfurt along with Dr. Renate Sterzel, City Councilor of Frankfurt, Dr. Stefan Schulte, Chairman of the Executive Board of Fraport AG, Mr. Mark Schwab, CEO of Star Alliance, H.E. Mr. Fesseha Asegedom, Ambassador of Ethiopia to Germany, and Ms. Dennenesh Zewdie, famous Ethiopian actress in Germany. Also present were representatives from the diplomatic community, the African Diaspora and various partners including Lufthansa, travel agencies and tour operators.

Ethiopian cement factories, Mugar and Messobo, have requested that the government halt cement imports in letters to the Ministry of Finance and Economic Development. The cement factories claimed that they can produce enough to meet local demand.

The cement factories have excess stock according to an anonymous official at Mughar. The two factories have increased their annual production by a total of 1.7 million tons following expansion projects.

The National Bank of Ethiopia reduced the minimum ratio of deposits Ethiopian banks need to hold in reserve from 15% to 10%. The change, took effect as of January 2 as per a directive issued by the central bank of Ethiopia.

The National Bank changed its monetary policy to increase the amount of cash banks have available for lending according to economists.

The amount of ‘liquid assets’ to be held as a proportion of deposits was also decreased from 25% to 20% confirmed Alemayheu Kebede Director of the Communications Directorate of the Central Bank.

Ethiopian Airlines Group CEO Tewolde GebreMariam has been recognized as ‘Airline Executive of the Year’ at the annual Global Aviation Awards for Excellence organized by Centre for Aviation (CAPA) in Malta on 5th December 2019. Mr. Tewolde won the title for his commendable individual influence on the aviation industry, demonstrating outstanding strategic thinking and innovative direction for the growth of Ethiopian Airlines and the aviation industry at large. 

Tewolde GebreMariam, Ethiopian Airlines Group CEO who has been leading the top African carrier since January 2011, has resigned due to health issues.