FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds




Electric Access Remains Feint Leaving 56m in Dark

Aug 12 , 2023


[ssba-buttons]

The ambitious plan to light up 25 million households in a decade by the Ethiopian Electric Utility (EEU) is undermined as it managed to garner 353,000 new customers in the ended fiscal year. As Ethiopia ranks in the bottom three countries in terms of electricity access from the continent with 56 million people in the dark, managing to deliver services to a mere 4.4 million households puts an undesirable light. EEU met 67pc of its expansion target this year, with CEO Shiferaw Telila chalking it up to the undue strain on its resources by rehabilitation endeavours in war-stricken areas. Rehabilitation of infrastructure in Afar, Tigray and Amhara regional states piled up 1.2 billion in costs, according to the CEO. While reaching 125 new cities in the year the Company disclosed a pervasive theft problem that led it to a 42.4 million Br loss. Addis Abeba accounted for a 6.3 million Br loss whereas 66 million Br in damages was sustained by the company's infrastructure across the country. Shieraw expressed that the extensive harm caused by the perpetrators is far from underwhelming as he presented the annual report of the company at its headquarters last week. He said 44 individuals were sentenced to up to nine years for the destruction of public property. EEU earned 34.5 billion Br in the year through its services selling power and extending lines. Shiferaw indicated that the company had incurred costs of 14 billion Br for the purchase of power from Ethiopian Electric Power (EEP).


Radar

Parliament Receives $237m Development Loan Package

The Council of Ministers forwarded two concessional loan agreements totalling 237.3 million dollars to Parliament for ratification, targeting rural infrastructure and food security. The package includes 46.3 million dollars from the African Development Bank (AfDB) for climate-resilient infrastructure in pastoralist regions. A second credit facility of 191 million dollars (146.1 million SDR) from the International Development Association (IDA) is earmarked for the sixth phase of the Productive Sa...


Radar

MoTRI to Overhaul Consumer Protection Rules Following Cabinet Approval of Trade Policy

The Council of Ministers, led by Prime Minister Abiy Ahmed (PhD), approved Ethiopia's first unified trade policy last week, ending a three-year deliberation period to fill a decades-long regulatory vacuum,. This institutional milestone mandates the Ministry of Trade & Regional Integration (MoTRI) to overhaul consumer protection frameworks, specifically requiring a rigorous revision of the Trade Competition and Consumer Protection Proclamation to eliminate market distortions and the prolifera...


Radar

Regional Power Exports Yield $366m as Capacity Hits 9.6GW

Ethiopian Electric Power (EEP) generated 365.99 million dollars from regional exports in the first nine months of the fiscal year as national capacity reached 9,579MW. The revenue followed the sale of 24,940GWh, representing 91pc of gross generation. Hydropower remains dominant, providing 9,500MW. To diversify assets and mitigate climate risks, the utility integrated the 100MW Asela Wind Power Project. The transmission network has expanded to 148,600km to secure domestic industrial supply and...