Four Firms Secure Deal to Electrify Rural Towns

Jun 1 , 2019


The government hired three Chinese and one Spanish firm for 12 small-scale solar energy development projects. The companies, hired by the Ethiopian Electric Utility, will be electrifying 67,700 rural homes in all parts of the country. The projects will be built in three areas of Oromia Regional State, two areas in Amhara and Southern Nations & Nationalities Peoples’ regional states each, and one each in Somali, Tigray, Afar, Benishangul Gumuz and Gambella regional states. The projects are jointly financed by the World Bank and the government of Ethiopia, which raised 8.5 million dollars and 59.6 million Br, respectively. About 25 projects are in the design phase, and the African Development Bank (AfDB) has approved 15 million dollars in loans and 100 million dollars in credit grants for these projects. The World Bank Group approved 400 million dollars of credit grants for solar power development projects. The World Bank has also provided loans and grants worth 375 million dollars for the first phase of the National Electrification Program launched in 2017, aimed at both integrated grid and off-grid electricity access with the latter to comprise 35pc by 2025.


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Ministry Secures $86m Grants

An 86.18 million dollar grant agreement was signed between the Ministry of Finance, UNICEF and UNFPA last week to support the agencies' ongoing country programs for the fiscal year. Out of the total grant, UNICEF committed 70 million dollars to support its water, nutrition, education, health, sanitation, child protection, and gender projects. Meanwhile, UNFPA pledged 16.1 million dollars for family planning, maternal health, adolescent and youth development, and gender equality and women empo...


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Authority Reports Fuel Import Stats

Ethiopian Petroleum & Energy Authority (EPA) disclosed that 3.2 million tons of fuel were imported into the country during the last fiscal year. The figure includes 2.04 million tons of diesel and 767,672tns of benzene. In the past fiscal year, the digital payment system, Telebirr, facilitated transactions totalling 103 million volumes worth 61.8 billion Br. Of these transactions, 81.39pc were for diesel, while 17.82pc were for benzene. The number of fuel stations increased from 682 to...


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Commercial Bank Collects $3.2b in Foreign Currency

The Commercial Bank of Ethiopia (CBE) announced robust performance in foreign currency collection for the past fiscal year, achieving 3.2 billion dollars in total mobilisation. This includes 2.07 billion dollars in remittances, with the Bank's Diaspora banking service and CBE Birr contributing 89.9 million dollars to the total. The performance details were shared during CBE's annual review meeting last week. "This achievement is particularly gratifying given the challenging economic climat...


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