Data Hubs Fuel State Power Seller's Revenues Engine

May 25 , 2024


Ethiopian Electric Power (EEP) has garnered over half a billion Birr in revenues over the past nine months through power sales to data mining companies. While the initial announcement mentioned "data mining," EEP now clarifies they are targeting data centres, which encompass a wider range of computing services beyond cryptocurrency mining. Menelik Getahun, head of EEP's market development, emphasizes the importance of diversifying revenue. He said data centre sales complement EEP's traditional income sources like power sales and fibre optic rentals. EEP officials also earned 121.78 million Bt from the Reppie Waste-to-Energy Power Plant, showcasing alternative energy sources. They announced it would be selling energy to data mining companies a few months ago after several BitCoin miners showed interest in the vast hydropower resources of the country. Crypto mining is an energy-intensive process demanding amounts ranging from 10MW to 100MW. Ethiopia generates around 5,200MW of energy from hydroelectric sources, making it a lucrative source of cheap electric energy for miners, who are not welcome for long in most countries.


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...