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Ethiopia to build largest airport in Africa 

Ethiopian government wants to build an airport which will further establish the dominance of its aviation sector in the continent. 



Ethiopia to build largest airport in Africa

With a $5 billion worth airport facility, Ethiopia will soon become the home of the largest airport in Africa. The Ethiopian government, within the next six months, wants to start the building of the airport, which will further establish the dominance of its aviation sector in the continent.

What’s fascinating about it? In a report by Bloomberg, Ethiopian Airlines’ Chief Executive Officer, Tewolde GebreMariam, said apart from being the largest airport in Africa, the airport would have a capacity that could cater to 100 million passengers yearly.

Ethiopia to overthrow London Heathrow with Africa’s largest airport worth $5 billion 

London Heathrow

The capacity or size of the airport would place it above the likes of Europe’s busiest airport, London Heathrow and Dubai International, which is reportedly the world’s No. 1 for international flights currently. The new Ethiopian airport will be built 70 kilometers (43.5 miles) from the existing Bole International Airport in the capital, Addis Ababa.

Ethiopia not losing focus: This ambitious project will position Ethiopian aviation among the global league. Although the country’s national carrier is the most profitable in Africa, it is not ready to lose grip on the aviation market. Despite expanding the capacity of Bole Airport to contain more passengers, it has been projected to be overwhelmed by passenger growth in the next three to four years.

The country’s expansion plan is in line with its 15-year expansion strategy for its aviation industry. Ethiopia is entering into a partnership with countries and establishing subsidiaries in countries like Malawi, Chad, Zambia, and Mozambique, to cement its influence in Africa’s aviation market.

Ethiopia to overthrow London Heathrow with Africa’s largest airport worth $5 billion 

Dubai International

[READ MORE: Air travellers across Nigerian Airports hit 8.5 million in 6-month)

Ethiopia has also disclosed that it is interested in establishing airlines in Ghana and Nigeria. Note that in the 2018-2019 period, Ethiopian Airlines experienced a 25% increase in profits to hit $260 million after lifting more passengers and cargo compared to other periods.

According to a report, the airline recorded $4 billion, which is 18% higher than the previous period. This figure is projected to increase as the airline nears its goal of 22 million passengers by 2025.

Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. Contact for tips: [email protected]

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Around the World

Covid-19: US economy grappling with 10 million job losses, adds 379,000 jobs in February 

The Covid-19 pandemic has led to the mandatory lockdown of major businesses and factories in the US.



The World’s biggest economy is grappling with the loss of 10 million jobs due to the Covid-19.

The Covid-19 pandemic led to the mandatory lockdown of major businesses and factories in the country. This meant downsizing for most companies who could not continue paying salaries with no incoming revenue

According to the Nasdaq, the unemployment rate in the United States economy was at its highest in April last year, reaching a record high of 14.7%. The unemployment rate dropped to 6% but that is still a significant number.

According to CNN, the US economy added 379,000 Jobs in February this year. This is a clear sign of the world biggest economy getting back on track. Although the US economy is still missing around 9.5 million jobs since the beginning of Covid-19.

Biggest losers 

According to Nasdaq, the most affected industries in the Covid 19 economic decline is the Hospitality and Outdoor industry. Hotels and restaurant workers were mostly put out of jobs. They also fall into a category regarded as the long-term unemployment category. This category is used to define those who have been without a job for 27 weeks.

Big government to the rescue 

The United States government has rolled out the following packages to cushion the effect of the Covid 19:

  • The Joe Biden Administration has postulated a 1.9 trillion Covid Relief Package for Americans. The Bill made it through a house vote and now needs to pass the senate-house too.
  • Jobless American workers will be entitled to an extra $400 a week.
  • The Joe Biden new relief bill will also contain a $1,400 stimulus check for citizens.

 What to know 

  • The US economy is gradually shifting to the post-Covid-19 era adding 379,000 jobs in February alone. It added a paltry 166,000 jobs in January.
  • The United States major economic rival China is already in the post-Covid-19 era, the only major economic country in the post-Covid-19 era.

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Around the World

Jack Dorsey’s Square set to acquire majority stake in Jay Z’s Tidal for $297 million

Jack Dorsey’s company, Square set to acquire Tidal, the streaming music service owned by Jay-Z for a $297 million deal.



Square, the mobile payments company owned by Jack Dorsey, announced on Thursday its plan to acquire a “significant majority” of Tidal, the streaming music service owned by Hip-hop music mogul, Jay-Z.

Square said it expects to pay $297 million, in a combination of cash and stock, for a stake in Tidal. Shawn “Jay-Z” Carter will join Square’s board, subject to the closing of the transaction while Tidal will operate independently within Square.

Existing artist shareholders will still remain stakeholders. Other Tidal artist-owners include Beyoncé, Alicia Keys, Coldplay’s Chris Martin, Kanye West, Madonna, Nicki Minaj, and Rihanna.

In a tweet made by Jay-Z today, he highlighted that “from the beginning that TIDAL was about more than just streaming music, and six years later, it has remained a platform that supports artists at every point in their careers. Artists deserve better tools to assist them in their creative journey.”

He also commented that “Jack is one of the greatest minds of our times, and our many discussions about TIDAL’s endless possibilities have made me even more inspired about its future. This shared vision makes me even more excited to join the Square board.

“This partnership will be a game-changer for many. I look forward to all this new chapter has to offer!”

Jack Dorsey, who is CEO of both Square and Twitter, also commented on this deal “comes down to one simple idea: finding new ways for artists to support their work.”

“New ideas are found at intersections, and we believe there’s a compelling one between music and the economy. I knew Tidal was something special as soon as I experienced it, and it will continue to be the best home for music, musicians, and culture.”

Jesse Dorogusker, a Square executive will lead Tidal on an interim basis. He added that Square will offer financial tools to help Tidal’s artists collect revenue and manage their finances. “There are other tools they need to be successful and that we’re going to build for them,”.

What you should know

  • Last month, Jack Dorsey and Jay-Z announced a Bitcoin fund focused on developing the cryptocurrency’s adoption in Africa and India.
  • In 2017, Sprint bought a 33% stake in Tidal. This week, Jay-Z bought back those shares from T-Mobile (which acquired Sprint).
  • Last month, Jay-Z announced that he would sell 50 percent of his champagne company, Armand de Brignac — better known as Ace of Spades — to LVMH Moët Hennessy Louis Vuitton amid a downturn in the entertainment industry caused by the pandemic that has affected some of Jay-Z’s holdings.

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