Ethiopian Tourist Trading Enterprise (ETTE) has entered into an agreement with Ethiopian Airlines Group to build a duty-free mall in Addis Ababa. On Wednesday, Group CEO Mesfin Tasew and ETTE CEO Rahel Getachew signed the Memorandum of understanding to carry out the joint construction project. According to the aviation group, the facility will be Ethiopia’s first duty-free mall.
It said, “this state-of-the-art facility will curate a world-class shopping and leisure environment that showcases luxury and international brands and promotes local culture and Ethiopia’s burgeoning aviation and tourism sectors.” The two public enterprises will invest at least 4.3 billion Birr in the construction of the duty-free mall, according to ETTE.
The facility will be built on 14,539 square meter land, located beside the Ethiopian cargo headquarters in Addis Ababa. Like Ethiopian Airlines, the tourist Trading Enterprise is a subsidiary of the Government’s investment wing Ethiopian Investment Holding (EIH) and has been in the business of duty free, duty paid services, as well as art and craft products for more than six decades. Duty-free sales contributed 72% of its annual revenue of 727.
85 million Birr in the previous financial year that ended in June 2023..