Electric Utility Progresses with Rehabilitation Ambitions

Feb 2 , 2025


[ssba-buttons]

The Ethiopian Electric Utility’s project to upgrade the power distribution infrastructure in Addis Abeba and its surrounding areas within a 50km radius is 88pc completed. It includes replacing old wooden poles with concrete ones and upgrading lines to reduce power outages related to aging infrastructure. So far, 9,644 wooden poles have been replaced and 347.39km of covered medium-voltage lines have been installed to prevent power interruptions caused by contact. The project also incorporates SCADA technology, which allows for remote monitoring of lines, facilitating quicker repairs by pinpointing the exact location of a problem. A technology that connects 41 power distribution stations and 226 switching stations is also 65pc complete, according to the Utility. Four new power distribution stations have also been built, and five existing ones have been upgraded with another one under construction. Officials at the EEU noted that the rehabilitation so far has proved successful, and power disruptions have lessened. The year-end report by the EEU indicated that 4.9 million households in the country had formal access to the electric grid and that it averages a little over 200,000 new customers each year.


Radar

Ethiopia, IFAD Sign 69.2m Dollar Deal to Promote Lowland Resilience

The Ethiopian Government and the International Fund for Agricultural Development (IFAD) have signed a 69.2 million dollar grant agreement to implement Phase II of the Lowland Livelihoods Resilience Project (LLRP II). The grant agreement was signed by Finance Minister Ahmed Shide and IFAD President Alvaro Lario. The project targets climate resilience and improved livelihoods for three million people in pastoral and agro-pastoral communities. Co-financed by the World Bank, LLRP II covers eight reg...


Radar

NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...


Radar

Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...