GERD to Start Early Generation in June

Nov 28 , 2020


The Grand Ethiopian Renaissance Dam (GERD) will start early generation next June, according to Seleshi Bekele (PhD), minister of Water, Irrigation & Energy. Started a decade ago, the construction of the Dam has reached over 70pc of completion, and the first water filling was finalised in July of this year. The Dam, which has a capacity of producing 5,150MW of energy, was scheduled to be completed in five phases: a contract signing that was meant to be finalised during the first quarter of 2011; impounding that should have been started in the second quarter of 2013; early generation, scheduled to have been launched in the third quarter of 2014; completion of civil work, which was planned to be concluded in 2016; while full completion was scheduled for mid-2017. The latest round of tripartite negotiations between Ethiopia, Sudan and Egypt was held two weeks ago. Ethiopia finalised the first water filling before the negotiations between the three countries concluded.


Radar

Abyssinia Bank Strategic Moves Pay Off, Driving Profit Growth

The Bank of Abyssinia (BoA) enjoyed another profitable year, amassing 4.23 billion Br net profits, an increase of 10.5pc from last year. The Bank announced total assets of 222.3 billion Br, surging by 17.3pc. Total deposits mobilised through the year climbed by 33.97 billion Br to 192.51 billion Br, while loans and advances reached 167.7 billion Br. However, the bank exhibited a nominal decline in its foreign currency earnings totalling 424 million dollars. Earnings per share also showed a ma...


Radar

$100m Project Mulls Public Transportation Make-Over

A 100-million-dollar project aims to manufacture over 5,000 diesel-powered and electric public transport vehicles for the capital. The proposed project was launched hoping to replace the ageing vehicles and improve safety, efficiency and quality across the city's urban transport system. Last week saw an MoU inked between executives of Multiverse Enterprise Plc and Addis Abeba Minibus Associations and was held at Vamdas Entertainment near Megenagna. The agreement includes plans to replace 15,000...


Radar

Safaricom Soars with 6.1 million Customers

Safaricom Ethiopia reported significant commercial growth in the first six months of the 2025 fiscal year (April to September 2024), with notable increases in both mobile (GSM) and M-PESA services. The company's network and services reached a population coverage of 46pc, growing from 30pc in the previous year. This expansion was supported by the addition of over 1,000 network sites, bringing the total to more than 3,000 across the country. Safaricom Ethiopia saw a surge in its customer base,...


Back
WhatsApp
Telegram
Email