EEU Pegs 6.8B Dollars for Full Power Access by 2030


EEU Pegs 6.8B Dollars for Full Power Access by 2030

The Ethiopian Electric Utility (EEU) estimates 6.8 billion dollars is needed to ensure universal access to electricity by 2030. Around 37pc of the population remains without power, while the rest use a mix of grid and solar sources. Esubalew Tenaw, process and quality management general manager, said the project is in early research stages, funded internally. He noted rural expansion will require federal support, given low tariffs and limited returns. “It’s a joint effort involving government, financiers, and EEU’s own resources,” he told Fortune, adding that finalisation and approvals are underway. Only 33pc currently have grid access. The target is to reach 78pc in five years. The EEU is also ramping up its call centre workforce from 230 to 600 operators. The 905 hotline, which served up to 13,000 daily in three shifts, is expected to handle more after the upgrade.

[ssba-buttons]

Radar

Bank of Abyssinia Signs Partnership with Droga Cooperative

Bank of Abyssinia has entered into a partnership agreement with Droga Health & Financial Savings and Credit Cooperative to provide financial support and services for its members. The agreement was signed yesterday at the Bank's headquarters. The deal aims to strengthen collaboration between the two institutions, enabling cooperative members to access tailored banking services. It was signed by Wosenyeleh Abera, Deputy CEO for Customer Relations and Marketing at the bank, and Zelalem Yilma...


Radar

Wegagen Introduces Real Time SWIFT Tracking

Wegagen Bank has launched a new mobile app feature enabling customers to track international SWIFT payments in real time. The bank is the first in Ethiopia to introduce an online SWIFT payment tracking system. By integrating SWIFT Global Payment Innovation, customers, particularly those involved in import-export trade, can monitor cross-border transactions using a Unique End-to-End Transaction Reference (UETR) directly from their smartphones. To use the service, customers select the SWIFT...


Radar

National ID, Zambia Partners to Expands Program Reach

The National ID Program has signed an agreement with Zambia's counterpart to provide consulting services for the development of software that will issue digital IDs. It is the first time the institution has extended its expertise beyond national borders, a sign of growing recognition for its rapid progress. Program officials described the partnership as a milestone in their effort to position themselves as a regional player in digital transformation. The collaboration is expected to center...