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The $10 Billion Mega-Airport Financing Partnership Between Ethiopian Airlines and African Development Bank Takes Off

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11 months ago

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Airport

Ethiopia’s ambition to build a new international airport that will rival some of the world’s biggest, took off on Monday with a monumental signing ceremony marking the African Development Bank’s role (www.AfDB.org) as the initial mandated lead arranger, global coordinator and book runner to mobilize nearly $8 billion of the $10 billion needed for the mega project.

The Bank plans to provide financing of $500 million, subject to Board approval.

The mandate letter was signed by Ethiopian Airlines Group Chief Commercial Officer Lemma Yadecha and the President of the African Development Bank Group Dr. Akinwumi Adesina, in the presence of Ethiopia’s Minister of Finance, Hon. Ahmed Shide.

Other guests at the ceremony included Ethiopian Airlines Group Board Chair Hon. Lt General Yilma Merdessa, Malawi’s Minister of Finance and Economic Affairs Simplex Chithyola, South Sudan’s Ambassador to Ethiopia Boutros Thok Deng, the Democratic Republic of Congo’s Chargé d’affaires in Ethiopia Exkael Kabongo, his Togolese counterpart Thomas Deji, and Zambia’s Nawa Sibongo.

Located 40 kilometers south of Addis Ababa, the new greenfield Bishoftu International Airport (BIA) will have an initial capacity of 60 million passengers, eventually expanding to 110 million, and transport 3.73 million tons of cargo annually.

“The African Development Bank is proud to partner with Ethiopia in its vision to expand the operational and fleet capacity of the Ethiopian Airlines,” Adesina said, praising Ethiopia for putting “Africa at the top in global aviation.”

“With its 75 years of operational history, Ethiopian airlines is Africa’s oldest and best airline. It is critical for regional economic integration, connecting capitals, people and markets, with its globally rated cargo facilities,” the Bank Group chief said.

Ethiopian Airlines Group CEO Mesfin Tasew, who was represented at the signing ceremony by Chief Commercial Officer Yadecha said, “The signing of this mandate letter marks a decisive step toward realizing a world-class pan-African gateway that will boost intra-African trade, regional integration, tourism, and global connectivity.”

Groundworks are expected to begin late 2025, with Phase I expected to be completed by November 2029. The multi-billion-dollar project will include an airport city with facilities such as shopping malls, hotels, recreation areas, as well as direct rail and expressway links to Addis Ababa.

Adesina, making his last official visit to Ethiopia, praised the “visionary leadership” of Ethiopia’s Prime Minister, Abiy Ahmed, who he noted is transforming the country “every hour, every day, every week, at scale. Speed and scale are now the hallmarks of Ethiopia.”

The African Development Bank is proud to partner with Ethiopia in its vision to expand the operational and fleet capacity of the Ethiopian Airlines

He summed up the financing partnership between Ethiopian Airlines and the Bank as a fitting one between Africa’s largest airline—with an especially noteworthy record of supporting the global response to the Covid19 pandemic—and the continent’s biggest infrastructure financier, to deliver a “game changer” for African and global aviation.

“In the past ten years under my Presidency, the Bank has financed over $55 billion in infrastructure,” Adesina said, pledging to “do all we can to support Ethiopia to achieve its dream.” He noted that the African Development Bank in 2016 extended a $160 million corporate loan to support the modernization and expansion of Ethiopian Airline’s fleet.

“I wish to assure you that the African Development Bank will deliver, so that this project can be delivered by Ethiopia for its people,” said Adesina.

The Ethiopian Airlines Group and the African Development Bank signed a Letter of Intent on 24 March 2025 to partner for the financing of this flagship project.

The Bank has a track record of responsibly structuring and mobilizing financing from commercial banks, development finance institutions, and institutional investors for structured projects across the continent.

It supports several transformative infrastructure projects as a mandated lead arranger, including the Aysha Wind Power Project in Ethiopia and the Tanzania-Burundi-DR Congo Standard Gauge Railway Project.

Over the years, the Bank has successfully executed debt-raise mandates for limited-recourse infrastructure projects as well as state-owned transport companies such as Transnet, Portos e Caminhos de Ferro de Moçambique, and Ghana Airports Company.

The Bishoftu International Airport will serve international passenger and cargo traffic, complementing Bole International Airport, which will retain Ethiopian’s domestic operations.

Ethiopian Airlines hub-and-spoke network, with subregional hubs, is driving connectivity across Africa and with the rest of the world.  With the planned airport, the speed, frequency and scale of connections for people, goods, and services is set to increase significantly. The expansion is also in line with one of the African Development Bank’s High 5 priorities, which is to Integrate Africa by breaking down barriers, building cross-border links, and enabling African economies to trade, travel, and thrive together in a globally competitive environment.

Ethiopian Airlines Group, Africa’s most successful airline, with more than 75 years of operational history, is the seven-time consecutive winner of Skytrax’s ‘Best Airline’ in Africa’ award. In the fiscal year ending 30 June 2025, the airline reported record revenues of $7.6 billion, reflecting an 8% year-on-year growth. It transported 19.0 million passengers, with 15.1 million on international routes and 3.9 million within the country.

The company has allocated a total of $350 million for livelihood restoration and resettlement of communities that will be affected by the construction.

To read President Adesina’s speech, click here (https://apo-opa.co/3UtVYBL).

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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Cassava Technologies strengthens Africa’s cloud resilience with Microsoft Azure ExpressRoute Metro designation in Johannesburg

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10 hours ago

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July 20, 2026

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Cassava Technologies

As the first ExpressRoute Metro location in Africa, Johannesburg joins a select group of global technology hubs offering organisations access to a new level of cloud resilience and security

JOHANNESBURG, South Africa, July 20, 2026/APO Group/ –Cassava Technologies (www.CassavaTechnologies.com), a global technology company, through its businesses – Africa Data Centres and Liquid C2, has expanded Africa’s cloud resilience capabilities after Africa Data Centres was designated a Microsoft Azure ExpressRoute Metro peering location in Johannesburg. This marks a significant milestone for Africa’s digital infrastructure and cloud ecosystem, reinforcing Cassava’s role as a key enabler of secure, resilient, and high-performance digital services across the continent.

 

By leveraging its status as the only provider with an on-net presence in both locations, Liquid C2, Cassava’s cloud and cyber security business, will deliver Secure CloudConnect. This fully managed service combines resilient private cloud connectivity with integrated cyber security solutions, providing organisations with a secure path to Microsoft Azure.

“Being designated a Microsoft Azure ExpressRoute Metro peering location is a defining moment for Africa Data Centres as well as for Africa’s digital infrastructure. It reflects growing confidence in the continent’s ability to support the next generation of cloud and AI-driven services while demonstrating the strength of our One Cassava model. By combining the infrastructure capabilities of Africa Data Centres with the cloud and cyber security expertise of Liquid C2, we are providing organisations with the resilient, secure, and trusted digital foundation they need to accelerate innovation and growth,” said Ziaad Suleman, Senior Vice President of Cassava Technologies South Africa and Botswana.

Being designated a Microsoft Azure ExpressRoute Metro peering location is a defining moment for Africa Data Centres as well as for Africa’s digital infrastructure

As the first ExpressRoute Metro location in Africa, Johannesburg joins a select group of global technology hubs offering organisations access to a new level of cloud resilience and security. Africa Data Centres’ JHB1 facility becomes the second peering location within the Johannesburg metro offering a local ExpressRoute Metro capability. ExpressRoute Metro routes a single connection through two peering locations in the same metro, adding built-in redundancy for mission-critical workloads.

This comes as regulators are placing greater emphasis on operational resilience, business continuity, risk management, and data protection.

Liquid C2’s Secure CloudConnect addresses these requirements by helping organisations reduce the risk of disruption, strengthen their security posture, and simplify the management of complex cloud environments, while meeting regulatory and governance expectations. Customers benefit from a single trusted provider while gaining access to infrastructure designed to support business-critical operations.

“South Africa isn’t waiting for the AI era – it’s helping to shape it, and that ambition rests on digital infrastructure the country can trust. With Microsoft Azure ExpressRoute Metro now available in Johannesburg, organisations across South Africa gain a more resilient and secure path to the cloud for their most critical workloads,” said Vukani Mngxati, CEO of Microsoft South Africa. “When businesses can build on trusted, resilient foundations, they can move faster, compete on the global stage, and turn South Africa’s digital ambition into real economic impact. We are proud to work with Cassava Technologies to help make that happen.”

This milestone marks a significant step forward for African enterprise digital transformation. By bridging hyper-scale infrastructure with managed cloud security, Cassava Technologies is actively future-proofing businesses across the continent, ensuring they have the speed, agility, and protection required to compete in the global digital economy.

Distributed by APO Group on behalf of Cassava Technologies.

 

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Master Power Technologies Unveils R50m State-of-the-Art Customer Experience Centre at New Midrand Premises

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11 hours ago

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July 20, 2026

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Master Power Technologies

This milestone marks a significant step in the company’s continued expansion and commitment to advancing Africa’s data centre infrastructure

JOHANNESBURG, South Africa, July 20, 2026/APO Group/ –Master Power Technologies (MPT) (https://kva.co.za/), a leading pan-African provider of turnkey data centre and critical power solutions, has unveiled its hi-tech Customer Experience Centre, also home to its new regional headquarters in Midrand.

Master Power Technologies Unveils R50m State-of-the-Art Customer Experience Centre at New Midrand Premises

This milestone marks a significant step in the company’s continued expansion and commitment to advancing Africa’s data centre infrastructure.

Founded in 1999 by electrical engineer Menno Parsons, MPT has grown from its origins as a Uninterruptible Power Supply (UPS) provider into a diversified engineering firm that delivers end-to-end solutions for data centres across Africa and the Middle East. Today, MPT designs, manufactures, and assembles a wide range of products under its flagship brands, SURE and AIVA, tailored to withstand Africa’s demanding operational environments.

The new Midrand facility spans 6 000m2 and will serve as MPT’s African headquarters, housing approximately 200 employees. Strategically located between Johannesburg and Pretoria, the site is positioned close to major data centre hubs, ensuring accessibility for clients and partners.

Hands-on environment

At the heart of the launch is the Customer Experience Centre, a R50 million investment designed to showcase MPT’s engineering capabilities and provide a hands-on environment for customers, partners, and trainees. The centre features advanced test facilities, including a 2 MVA UPS test platform and a 400kW cooling systems test centre, which is the most comprehensive of its kind on the continent.

These facilities enable performance testing to European certification standards, offering clients confidence in the reliability and efficiency of MPT’s solutions, with the company having become the first African business to be officially certified as an Endorser of the European Code of Conduct for Energy Efficiency in Data Centres in 2025.

The Experience Centre represents a new chapter for Master Power Technologies

“The Experience Centre represents a new chapter for Master Power Technologies. It’s about creating a space where customers can engage with our technology, see it in action, and understand the depth of our capabilities,” says MD and Founder of MPT Menno Parsons.

“This centre will be the most impressive UPS and cooling training facility in Africa, allowing our clients to touch, feel, and work with real systems in a way that has never been possible before.”

Commitment to local

The Experience Centre also highlights MPT’s commitment to local engineering and manufacturing. MPT assembles and engineers complete modular data centre and energy centre solutions within Africa. This approach reduces logistical risks, supports local industry, and ensures solutions are tailored to regional requirements.

Beyond technical demonstrations, the centre will serve as a hub for training and collaboration, equipping engineers and clients with practical knowledge to optimise data centre performance.

It also integrates MPT’s proprietary Advanced Infrastructure Visual Analytics (AIVA) monitoring platform, which manages and records metrics across more than 200 data centres in Africa, offering advanced analytics and operational insights.

“Our business has always been about more than just selling equipment. We engineer solutions for Africa, by Africa. This Experience Centre is a testament to that philosophy, which strengthens our ability to train, innovate and deliver world-class infrastructure while remaining rooted in local expertise,” says Parsons.

The launch of the Midrand offices and Experience Centre underscores MPT’s role as a trusted partner in Africa’s rapidly growing data centre sector. With demand for resilient, efficient, and scalable infrastructure on the rise, MPT’s investment positions the company to meet the evolving needs of clients across the continent and beyond.

Distributed by APO Group on behalf of Master Power Technologies.

 

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Embracing an Intelligent Future: UnionPay Showcases AI Innovation at WAIC 2026

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11 hours ago

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July 20, 2026

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WAIC

Release of Phased Achievements of the National Pilot Base for AI Application (Financial Sector) Held Alongside the Conference

SHANGHAI, CHINA – Media OutReach Newswire – 20 July 2026 – On 17 July, the 2026 World Artificial Intelligence Conference (WAIC) officially opened in Shanghai. UnionPay unveiled three proprietary AI technologies developed for the financial sector at the Shanghai exhibition area: financial transaction time-series foundation model, the Agentic Payment Open Protocol (APOP) framework, and a privacy-preserving large language model inference solution. As the AI era unfolds, the showcase highlights UnionPay’s continued commitment to accelerating the adoption of digital and intelligent technologies.

On 18 July, UnionPay hosted the Release of Phased Achievements of the National Pilot Base for AI Application (Financial Sector) at the UnionPay Center alongside WAIC 2026. The event brought together more than 100 representatives from commercial banks, Chinese and international partners, leading technology companies, academia, and research institutions. During the event, UnionPay released its “1+6+N” AI achievements framework, announced a series of industry partnerships, and launched a joint initiative calling for greater collaboration on the development and governance of the financial industry. These achievements demonstrate the progress of the National AI Application Pilot Base in building an open innovation platform that accelerates AI adoption across the industry.

Dong Junfeng, Chairman of China UnionPay and UnionPay International, attended the event and delivered a keynote speech. He noted that AI is rapidly reshaping the financial industry. Since the National AI Application Pilot Base was launched in 2025, it has delivered a number of meaningful outcomes through close collaboration across the industry. Mr. Dong elaborated on the vision for the development of the base from through three dimensions: sharing, collaborative governance, and mutual benefits. First, by pooling computing resources, data and models on a centralized public platform, the base helps address industry challenges such as the high cost of computing resources and data silos. This lowers barriers to AI adoption across the financial sector. Second, the base has strengthened AI security by building robust safeguards for large language models and applying AI to enhance transaction risk management and cybersecurity. Such efforts are made to support a safer and more resilient financial ecosystem. Third, the base is accelerating the AI adoption across real-world use cases. It has incubated a range of commercial AI solutions spanning agentic payments, credit risk management, consumption promotion and merchant digital transformation, turning technological innovation into tangible business value. Looking ahead, the future of AI + Finance holds enormous potential. UnionPay looks forward to working with partners across industries to build an open, shared, and well-governed financial AI ecosystem that supports the development of new productive forces through technological innovation.

A highlight of the event was the official launch of UnionPay’s “1+6+N” AI achievements framework.

The “1” represents a unified portal—the National AI Application Pilot Base. Built on a “One Portal, Six Centers” structure, it integrates six specialized centers covering models, datasets, applications, talent development, supply-demand matching, and financial services. Together, the platform currently hosts 11 models, 14 datasets, 59 demonstration applications, and 61 service offerings, bringing together 145 core resources in total.

The “6” refers to six independent and controllable capabilities, including computing resources scheduling through a trusted intelligent computing sharing platform, high-quality financial datasets, finance-specific foundation models, AI-powered financial security services, financial AI standards, and a pilot testing sandbox that supports model training and evaluation. Together, these six capabilities form the base’s shared technology foundation, providing ecosystem partners with the core technical infrastructure.

The “N” represents a portfolio of benchmark use cases, standardized AI solutions, and demonstration applications built on this technology foundation. These applications span five key areas—intelligent payments, inclusive finance, consumption growth, risk management and compliance, and operational excellence—building a multi-tier product portfolio serving consumers, merchants, local governments and financial institutions. This accelerates the application of AI capabilities across diverse use cases.

Together, the “1+6+N” framework of the base connects computing power, data, models, and use cases and forms an end-to-end value chain. By addressing common industry challenges—including limited computing resources, data silos and the high cost of AI deployment—it delivers standardized and widely accessible AI capabilities, providing the financial industry with reusable, highly secure and one-stop AI solutions for intelligent transformation. This also reflects UnionPay’s commitment not only to driving its own business growth, but also to enabling the industry through foundational capabilities and reinforcing financial infrastructure for the AI era.

These achievements have already been made available to industry partners and are beginning to create value. For banks, acquirers and other financial institutions, UnionPay’s shared infrastructure enables rapid access to mature financial AI capabilities without the need to build systems from scratch, significantly reducing both technical barriers and implementation costs. For merchants, UnionPay offers AI-powered marketing, digital analytics and intelligent risk management tools to support smarter operations, improve customer engagement and enhance operational efficiency, enabling even small and medium-sized businesses to benefit from AI innovation. For technology companies and other ecosystem partners, the base enables partners to rapidly adapt AI products for financial applications and complete compliance validation, accelerating the commercialization of technological innovations.

The event also featured six rounds of partnership signing ceremonies, covering areas including AI-themed card, cross-border agentic payment ecosystem development, AI-powered operational empowerment for merchants, joint commercialization of pilot base innovations, and broader ecosystem collaboration across the financial industry chain.

Following the signing ceremonies, UnionPay released the Initiative on the Collaborative Development and Governance of AI Applications in Financial Services, with representatives from participating organizations joining the stage to witness its launch. Building on the “1+6+N” framework, the initiative calls on industry stakeholders to collaborate in four areas: First, advancing trusted AI systems that serve the real economy by establishing governance mechanisms for traceable and explainable algorithms while safeguarding data privacy and security; Second, strengthening collaboration among industry, academia, research institutions and users, leveraging the base to jointly advance core technologies and develop independent and secure financial AI infrastructure; Third, promoting openness and inclusiveness by sharing mature AI models, testing services and implementation solutions to reduce the cost of intelligent transformation, particularly for SMEs; Fourth, improving lifecycle governance through tiered risk management, enhanced compliance standards and coordinated risk prevention. The initiative calls on all industry stakeholders to work together by jointly strengthening the foundation, unlocking greater value through shared capabilities, and reinforcing collaborative governance, with the goal of advancing the sound development of AI in the financial sector and driving digital finance through technological innovation.

 

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