Corporation Secures 950m Br Dam Project

Jun 29 , 2019


Ethiopian Construction Works Corporation secured a project to construct the 950-million-Br Guder Fato Irrigation Dam in West Shoa Zone of Oromia Regional State. The Ministry of Water, Irrigation & Energy has awarded the corporation for the project to complete and deliver the construction in three years. The agreement was signed by Yonas Ayalew, the Corporation’s new CEO, and Michael Mehari (PhD), head of irrigation development at the Ministry. When completed, the dam will have the capacity to hold 58 million cubic metres of water and can be used to cultivate 5,000ha of land, according to Kassahun Leul, head of Water Infrastructure Construction Sector at the Corporation. The Corporation was formed after the amalgamation of two formerly independent public enterprises, the Ethiopian Road Construction Corporation and the Ethiopian Water Works Construction Enterprise.


Radar

Tech Ministry Falters as Audits Expose Mismanagement, Unmet Ambitions

The Ministry of Innovation & Technology is under scrutiny after an audit revealed lapses in project management and financial oversight. This raised questions about governance standards within a Ministry central to the country's tech-driven growth ambitions. According to the Federal Auditor General, the Ministry has completed only 11pc of its planned projects with its overall financial administration standing at 37.4pc for a year-long project that commenced in 2022. Budget mismanagement an...


Radar

Central Bank Keeps Lending Lid Tight as Inflation Squeezes Economy

The Central Bank has reaffirmed its decision to maintain an 18pc cap on credit growth, reinforcing a commitment to tighter monetary policy during persistent inflation and economic uncertainty. The National Bank of Ethiopia's (NBE) monetary policy committee cited ongoing concerns over inflation, which stood at 19.9pc year-on-year (YoY), and liquidity imbalances as reasons to uphold the restriction on lending. Bankers and analysts interpret this move as evidence of regulators' determination to...


Radar

Ethio Telecom Expands Services with DStv Streaming

Ethio telecom enters the entertainment pool with bundled DStv streaming services through high-speed broadband internet and mobile data packages. The partnership with MultiChoice Ethiopia aspires to merge the telecom's fiber broadband and mobile network with DStv's content. Subscribers can access DStv channels through mobile data or fiber broadband bundles, with discounts of up to 35pc through Telebirr or My Ethiotel (*999#) and up to 26.5pc at sales centers for fiber broadband bundles. Acc...