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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.

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Prime Capital Joins ESX, Seeks Securities Dealership Licence

Prime Capital has secured trading membership on the Ethiopian Securities Exchange (ESX) and is pursuing a securities dealership licence to expand its brokerage and investment banking services, according to Head of Business Development and Marketing Fikremarkos. The firm received its trading membership after obtaining an investment banking licence from the Ethiopian Capital Market Authority (ECMA) and meeting all ESX requirements. The licence authorises Prime Capital to execute securities tran...


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Parliament Ratifies Tax Amendment, Assigns PMO to Lead Conciliation, Imposes 10pc Penalty on Late Evidence

The Prime Minister's Office will appoint independent tax conciliators while taxpayers face a 10pc penalty for late evidence under the Federal Tax Administration Amendment ratified by Parliament last week. By shifting the selection of “conciliators” from the tax authority to the PMO, authorities aim to establish a neutral dispute-resolution system to speed up out-of-court settlements. Experts describe the move as a high-stakes reform with notable institutional risks. The legislation, pa...


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ZamZam Bank Registers Shares, Eyes Capital Market Debut

ZamZam Bank has secured approval from the Ethiopian Capital Market Authority (ECMA) to register its shares, becoming the first fully interest-free bank to complete the regulatory process for public trading. The approval covers five million existing shares worth five billion Br and one million bonus shares valued at one billion Br, paving the way for the Bank's future participation in Ethiopia's capital market. ZamZam plans to raise its capital to 15 billion Br and introduce Sharia-compliant i...