FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds



Ministry of Water & Energy Reports Mixed Nine-Month Performance


Ministry of Water & Energy Reports Mixed Nine-Month Performance

The Ministry of Water & Energy (MoWE) has presented its nine-month performance report to Parliament, showing strong gains in electricity generation alongside persistent financial and operational challenges. Electricity generation capacity rose from 7,910 MW to 9,579 MW, narrowly missing the nine-month target. Hydropower led the expansion, reaching 9,050 MW, while wind and solar lagged at 479 MW and 15.32 MW against their respective targets. The power sector also generated 365.99 million dollars from cross-border electricity sales, exceeding the 314.1 million dollar target. Domestically, 290,000 new connections were added, raising total customers to 5.62 million. On the financial side, the Ministry utilised 13.7 billion Br in capital expenditure out of a 19.1 billion Br budget, but fundraising for major projects fell short. The Grand Ethiopian Renaissance Dam (GERD) Coordination Office raised 1.24 billion Br against a 2.58 billion Br target, with diaspora contributions declining to 167.8 million Br. Water access also expanded, with 3,278 new or upgraded facilities reaching an additional 2.74 million people, increasing national coverage to 82.3 million. However, the report flagged delays in project execution linked to weak contractor performance, poor design studies, inflation in construction inputs, and governance and security-related disruptions. Municipal loan defaults and delayed counterpart funding from regional administrations were also cited as ongoing constraints.

[ssba-buttons]

Radar

Customs Authorities Intercept Major Alleged Contraband Shipment Worth 422 Million Br

The Customs Commission seized alleged contraband goods worth more than 422 million Br during inspections conducted between June 25 and June 30, 2026. The haul included clothing, electronics, ammunition, construction materials, coffee, vehicle spare parts, cosmetics, khat, narcotics, minerals, livestock and foreign currency. The Addis Abeba Airport, Moyale and Awash customs branches recorded the largest seizures, valued at 115 million Br, 93 million Br and 61 million Br, respectively. Authorit...


Radar

Hijira Bank Posts Record Growth as Assets Reach 31.45 Billion Br

Hijira Bank posted 3.55 billion Br in income in 2025/26, exceeding its combined earnings over the previous four years, while gross profit reached 1.9 billion Br. Assets rose 115pc to 31.45 billion Br, deposits doubled to 24 billion Br, and capital increased 202pc to 7.45 billion Br. Digital transaction value surged 86pc to 41.72 billion Br, foreign currency earnings reached 158 million dollars, and total banking transactions hit 615.39 billion Br. The bank also disbursed 1.5 billion Br in col...


Radar

Gadaa Bank Offers One Million Shares to Public Investors

Gadaa Bank has offered one million shares to the public at 1,050 Br per share following approval from the Ethiopian Securities Exchange (ESX) on June 22, 2026. The share sale keeks to expand the bank's capital base and strengthen shareholder value. The offering will run until September 17, 2026, and is open to existing shareholders and new investors who meet ESX requirements. It is open to existing shareholders and new investors who meet ESX requirements...