Ethiopia Kicks off Construction of Irrigation Dam

Jun 8 , 2019


[ssba-buttons]

The construction of the 3.3-billion-Br Guder Sato Irrigation Dam project started in West Showa Zone, Oromia Regional State. Expected to benefit 5,000 household farmers, the irrigation dam will be constructed by the Ethiopian Construction Works Corporation (ECWC), which has 15,000 employees and operates with a capital of 20 billion Br. Oromia Water Works Corporation will supervise the construction. The Dam, which will be 4.6m high and 273m long, will trap 57 million cubic metres of water to irrigate 5,000ha of land. Five months ago, the Auditor General confronted the Ministry of Water & Irrigation for delays and cost overruns of the Zarema Mayday and Megech irrigation dams, which have cost a total of 13.6 billion Br. Gemechu Dubisso, the auditor general, reported the inflated aggregate cost of the two irrigation dams to parliament last January.


Radar

AMG Holdings Breaks Ground on Industrial Rail Link to Ethio-Djibouti Railway

AMG Holdings has launched construction on a 2.5-kilometer railway connecting its Sheger Industrial Park to the Ethio-Djibouti Railway's Endode Station. The Ethiopian-led project comprises 1.7 Kms of main track and 800 meters of side rail. Chief Project Manager Engineer Nigist Hailu said the line is expected to be completed within six months, facilitating the transport of raw materials and finished goods to Djibouti's port. More than 100 local workers have already joined the project, with addi...


Radar

Ethiopian Deposit Insurance Fund Achieves Full Q1 Collection Target

The Ethiopian Deposit Insurance Fund collected 2.08 billion Br in the first quarter of 2025. This meets 100 percent of the target and represents a 26.83 percent increase compared with the same period last year. The rise in premiums was attributed to higher deposits from member financial institutions. To date, the fund has collected a total of 15.93 billion Br in premiums from member institutions, with 14.51 billion Br coming from regular deposits and 1.42 billion Br from interest-free depo...


Radar

Oromia Bank, Ethiopian Airlines Introduce Fly Now, Pay Later via Milkii Digital App

Oromia Bank's Milkii Digital App, launched on May 3, 2025, has introduced a “Fly Now, Pay Later” service that lets customers book Ethiopian Airlines tickets using digital loans, with payments spread over six months after travel with 16.5 interest rate and allows customers to book flights upto 300,000 Br. Developed in collaboration with Ethiopian Airlines, the platform is part of a broader effort to expand digital finance and simplify access to services. The initiative seeks to enhance conven...