Ethiopia has made a major pitch to global investors for its planned $12.5 billion Bishoftu International Airport (BIA), a flagship project intended to transform the country into Africa's premier aviation gateway.
The proposal was unveiled today at the Africa Investment Forum (AIF) in Rabat, Morocco, attracting "strong interest" from a diverse range of financiers, including development banks, commercial lenders, and institutional investors.
The project is being spearheaded by the Ethiopian Airlines Group (EAG), with the African Development Bank (AfDB) already appointed as the mandated lead arranger for the financing.
BIA is a new, or greenfield, airport development located near Abusera, approximately 40 kilometres south of the capital, Addis Ababa.
The first phase of the development is valued at around $12.5 billion and aims to create an airport capable of handling 60 million passengers annually. Should it reach full capacity, the plan projects it could ultimately scale up to 110 million passengers a year, making it the largest airport in Africa.
Beyond passenger traffic, the plan includes significant support infrastructure:
Cargo Terminals: Boosting the country’s logistical capacity.
Airport City: Developing commercial, retail, and hospitality sectors.
Connectivity: Direct rail and expressway links to Addis Ababa.
The presentation at the AIF is considered a critical milestone, moving the project closer to procurement and execution. Representatives from global institutions, including export-credit agencies and construction firms from Africa, Europe, North America, and Asia, reportedly engaged deeply with project sponsors.
This keen interest reflects growing international confidence in large-scale African infrastructure ventures, particularly those with the strategic regional importance of BIA.
Ethiopia’s Finance Minister, Ahmed Shide, framed the airport as a historic development.
“With its cutting-edge technology, sustainable design, and unparalleled connectivity, BIA positions Ethiopia to become the aviation capital of Africa — a major gateway connecting the continent to the world,” he said in a statement accompanying the presentation.
The new airport is necessary to relieve growing pressure and capacity constraints on the current Bole International Airport in Addis Ababa.
Sponsors believe the project is key to unlocking greater economic growth, trade, and tourism across the continent, directly aligning with broader pan-African goals to enhance intra-African connectivity and mobility.
The surrounding airport city is projected to generate thousands of jobs during both the construction and operational phases.
Prospective lenders have now been formally provided with the Project Information Memorandum and financial model. Prequalification for Engineering, Procurement, and Construction (EPC) contractors is underway, with bid submissions expected by mid-December 2025.
