'Yes, We Can': Ethiopia's $10 Billion Mega-Airport to Complete With Global Hubs, Says Ethiopian Bank CEO
'Yes, We Can': Ethiopia's $10 Billion Mega-Airport to Complete With Global Hubs, Says Ethiopian Bank CEO
The Bishoftu International Airport project is set to become one of the world's five largest airports, with a capacity of approximately 100 to 110 million passengers annually, Zemedeneh Negatu, CEO of CBE Investment Bank, said in an interview with Sputnik Africa.
The airport will significantly bolster Ethiopian Airlines—already Africa's largest carrier—which aims to increase passenger revenue from $8 billion to $40 billion by 2040, Zemedeneh noted.
"Now, not only for the airline, but for the Ethiopian economy the economy […] the government is forecasting about 9% plus GDP growth," he said.
Upon completion, the airport is expected to position the East African country as a premier travel and investment hub on the continent and will directly compete with major Gulf and global aviation hubs , according to the official.
Financing for the project is being arranged by the African Development Bank, with syndication involving numerous global financial institutions.
The government and airline will retain ownership, while seeking debt financing for the majority of the project's cost, Zemedeneh noted.
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