Solar Power Plant Breaks Ground in Somali

Oct 10 , 2020


[ssba-buttons]

Somali Regional State has inaugurated the country's first micro-grid solar power plant built at a cost of 4.3 million Br. The power plant has the capacity of generating 325 kilowatts of electric power at a time. The project was launched in the presence of Seleshi Bekele (PhD), minister of Water, Irrigation & Energy and the vice president of the Somali region, Mustefa Mohammed. The solar power plant is located in Korele and is one of the 12 pilot projects in the country. The Ministry has been working on the installment of 11 more micro-grid solar power plants in seven other regional states. The micro-grid power project was financed by a budget from the government of Ethiopia and the World Bank. After completion, the 12 solar power grids are expected to have the capacity to generate a total of 3,800 kilowatts. The government is also reaching out to 250 rural places with micro-grid solar electric power under the National Electrification Programme.


Radar

AMG Holdings Breaks Ground on Industrial Rail Link to Ethio-Djibouti Railway

AMG Holdings has launched construction on a 2.5-kilometer railway connecting its Sheger Industrial Park to the Ethio-Djibouti Railway's Endode Station. The Ethiopian-led project comprises 1.7 Kms of main track and 800 meters of side rail. Chief Project Manager Engineer Nigist Hailu said the line is expected to be completed within six months, facilitating the transport of raw materials and finished goods to Djibouti's port. More than 100 local workers have already joined the project, with addi...


Radar

Ethiopian Deposit Insurance Fund Achieves Full Q1 Collection Target

The Ethiopian Deposit Insurance Fund collected 2.08 billion Br in the first quarter of 2025. This meets 100 percent of the target and represents a 26.83 percent increase compared with the same period last year. The rise in premiums was attributed to higher deposits from member financial institutions. To date, the fund has collected a total of 15.93 billion Br in premiums from member institutions, with 14.51 billion Br coming from regular deposits and 1.42 billion Br from interest-free depo...


Radar

Oromia Bank, Ethiopian Airlines Introduce Fly Now, Pay Later via Milkii Digital App

Oromia Bank's Milkii Digital App, launched on May 3, 2025, has introduced a “Fly Now, Pay Later” service that lets customers book Ethiopian Airlines tickets using digital loans, with payments spread over six months after travel with 16.5 interest rate and allows customers to book flights upto 300,000 Br. Developed in collaboration with Ethiopian Airlines, the platform is part of a broader effort to expand digital finance and simplify access to services. The initiative seeks to enhance conven...