Ethiopia Refutes Egypt’s Water Filling Proposal

Sep 21 , 2019


[ssba-buttons]

Ethiopia rejected Egypt’s proposal for the Grand Ethiopian Renaissance Dam (GERD) that suggested that the country should release 40 billion cubic metres of water every year, while the Aswan Dam will only release water when its volume reaches 165m above sea level. Egypt also asked that the Dam be refilled every seven years. Ethiopia rejected the proposal, stating that it contradicts the Nile Dam Declaration, and it creates unnecessary bindings and obligations for Ethiopia. Ethiopia also indicated that it could only release 29-35 billion cubic metres of water a year. Ethiopia, Egypt and Sudan resumed the dam talks last year for three consecutive days.  Egypt had come up with a plan to facilitate the increment in the water content of the Nile Dam. There will be a technical negotiation between the countries that will be held in Sudan starting from October 3, 2019, about the refilling and release of the water and its impact on other countries where the Nile extends. The water ministers of each state will have further discussions on the points that will be approved.


Radar

Central Bank, Global Alliance Partner to Enhance Sustainable

The National Bank of Ethiopia (NBE) recently hosted a high-level meeting with representatives from the Global Alliance for Banking on Values (GABV) and selected member banks in anticipation of the 17th GABV Annual Meeting scheduled in Uganda. The meeting convened commercial bank representatives from Ethiopia, alongside a delegation comprising six GABV members, including Centenary Bank and Opportunity Bank Uganda, Amalgamated Bank, Sunrise Banks, City First Bank, and Merkur Cooperative Bank. G...


Radar

Commercial Bank of Ethiopia Adjusts Loan Interest Rates Amid Market Reforms

Commercial Bank of Ethiopia (CBE) has announced adjustments to its loan interest rates, effective March 7, 2025. Bank executives cited rising deposit mobilisation costs and the need to align with market standards as key factors influencing the decision, despite successful internal reforms that have reduced operational expenses. Executives noted that these adjustments are crucial for maintaining its competitive edge and ensuring the continued delivery of efficient services to its clientele. ...


Radar

Chemical Corp Posts Substantial Revenue, Profit Growth in 1Q

The state-owned Chemical Industry Corporation recorded a revenue of 2.53 billion Br in the first half of the 2024/2025 financial year. The Corporation reported a profit before tax of over half a billion Birr, which marks a considerable 182.6pc increase compared to the same period last year. Company officials attributed the growth result to enhanced market reach, effective cost-cutting measures, and optimisation of plant capacity utilisation. Year-on-year revenue growth was noted across variou...