Ethiopia secured a $500 million funding from the African Development Bank for the construction of a major airport.
The African Development Bank (AfDB) has announced plans to contribute $500 million towards the construction of a new airport in Bishoftu, Ethiopia, which is expected to become the largest airport in Africa upon completion.
Located approximately 45 kilometers south of Addis Ababa, the Bishoftu hub will initially have a capacity to handle 60 million passengers annually, with expansion plans to accommodate up to 110 million passengers. The airport will also be capable of handling 3.73 million tons of cargo per year.
This ambitious project is part of Ethiopia's ambition to become a leading aviation hub and contribute to regional economic integration. Upon completion, the Bishoftu hub is expected to surpass Cairo International Airport as Africa's busiest, based on current projections.
As of 2024, Cairo International Airport holds the title of Africa's busiest airport, followed by Johannesburg's O.R. Tambo. The Bole Airport in Addis Ababa, which can handle up to 25 million passengers annually, is expected to be replaced by the Bishoftu hub.
The estimated cost of the airport's construction is $10 billion, with the African Development Bank providing a significant portion of the funding. The AfDB describes the Bishoftu hub as a "transformational regional integration project" that will enhance "continental integration and connectivity".
The Bishoftu hub will primarily serve international, regional, and cargo flights, complementing Addis Ababa's Bole International Airport, which will focus on domestic operations. Part of the funding for the project will come from Ethiopian Airlines.
Construction of the Bishoftu hub is scheduled to begin at the end of 2025, subject to AfDB Board approval. The project is set to be a game changer in African aviation, significantly expanding the continent's capacity to accommodate growing travel demand and supporting economic growth.
The data about Africa's busiest airports in 2024 was sourced from the Official Aviation Guide. The information about the Bishoftu hub's financing and the AfDB's statement was provided by the African Development Bank.
The African Development Bank's $500 million contribution to the Bishoftu hub's construction signifies a significant endeavor in the finance industry, with potential to revolutionize the transportation sector. As a strategic business move, this ambitious project aims to bolster Africa's economic integration and position Bishoftu as a leading aviation hub.
