AfDB signals support for Africa’s largest airport
March 27, 2025
Ethiopian Airlines Group has signed a Letter of Intent (LoI) with the African Development Bank (AfDB) for financing of the $7.8 billion Abusera International Airport project.
Located in Bishoftu City in Abusera, south of Addis Ababa, the new airport will complement the recently expanded Bole International Airport in the Ethiopian capital, which is expected to reach its annual 25 million passenger capacity limit soon.
Mesfin Tasew Bekele, CEO of Ethiopian Airlines, signed the LoI with Nnenna Nwabufo, VP for regional development, integration and business delivery at AfDB at the bank’s headquarters in Abidjan, Cote d’Ivoire.
Commenting on the collaboration, Dr. Akinwumi Adesina, president of the AfDB, said, “I’m a great friend of Ethiopia and of course Ethiopian Airlines is Africa’s pride, a symbol of excellence and resilience. The African Development Bank is fully committed to supporting this transformative flagship project, which will strengthen the continent’s aviation leadership and economic integration.”
Mega hub in the making
Billed as Africa’s largest airport, the mega hub is set to accommodate 60 million passengers by the completion of the first phase, scheduled for 2029, with future expansions elevating the capacity to 110 million passengers per year. The airport is being designed by a consortium led by Dar Al-Handasah Consultants, Zaha Hadid Arhitects and Pascall+Watson. It will serve as a pivotal hub for the continent connecting Africa with the rest of the world. The new airport is set to feature 600,000 square metres of terminal space, 126,000 square metres of airline support areas, two parallel runways and extensive cargo and airport support infrastructure. It will also be served by an express rail link to the centre of Addis Ababa.
Speaking in August last year, Tasew highlighted the airport’s role in establishing Ethiopia as a global aviation hub, stating: “The project will not only enhance connectivity but also drive economic growth and prioritise environmentally responsible practices in our country and beyond, reflecting the airline’s commitment to innovation and sustainability.”
Africa’s global gateway
The new infrastructure will also support the airline’s role in improving intra-Africa and global connectivity by enabling a more extensive and efficient network in line with Ethiopian’s ambitious 2035 growth strategy, which is focused on network expansion and infrastructure development. In the last fiscal year, Ethiopian Airlines reported revenues of $7.02 billion, reflecting a 14% year-on-year increase. The airline transported 17.1 million passengers with 13.4 million of those on international routes and 3.7 million travelling domestically.
According to Ethiopian finance minister Ahmed Shide, the LoI is testament to AfDB’s commitment to supporting Ethiopia’s ambitious flagship air transport project. “Not only will [the airport] reinforce Ethiopian Airlines’ competitive edge in passenger and cargo services, but it will also enhance Africa’s global air connectivity and integration, solidifying the continent’s aviation hub status,” he concluded.
