Genale Dawa Dam Starts Pilot

Dec 7 , 2019


Genale Dawa III hydropower project, which is located in southeast Ethiopia 630Km from the capital, began pilot generation with one of the three turbines it had last Wednesday. The turbine is expected to start giving service by supplying power for the project site. Each turbine has an installation capacity of 84.7MW. Chinese Exim Bank has financed 60pc of the project, while the Ethiopian government covers the rest. The project has been delayed for five years due to the compensation issue, according to Moges Mekonnen, communications director of Ethiopia Electric Power (EEP). Once the dam becomes fully operational, it will have an installed capacity of 254MW power and will produce 1,640GWh annually. The dam is expected to be fully operational in January 2019. Currently, EEP operates and maintains more than 12 hydropower and three wind power plants. These plants generate 4,290MW of power. “The country's power demand increases by up to 13pc annually,” Moges said. The dam has the longest water passing cave in the country, which is 12.4Km long. The area also receives rainfall two times a year that gives the dam distinct advantages from the others.  The dam is being constructed by a Chinese company named CGGC with the supervision of MWH, an American company.


Radar

Abyssinia Bank Strategic Moves Pay Off, Driving Profit Growth

The Bank of Abyssinia (BoA) enjoyed another profitable year, amassing 4.23 billion Br net profits, an increase of 10.5pc from last year. The Bank announced total assets of 222.3 billion Br, surging by 17.3pc. Total deposits mobilised through the year climbed by 33.97 billion Br to 192.51 billion Br, while loans and advances reached 167.7 billion Br. However, the bank exhibited a nominal decline in its foreign currency earnings totalling 424 million dollars. Earnings per share also showed a ma...


Radar

$100m Project Mulls Public Transportation Make-Over

A 100-million-dollar project aims to manufacture over 5,000 diesel-powered and electric public transport vehicles for the capital. The proposed project was launched hoping to replace the ageing vehicles and improve safety, efficiency and quality across the city's urban transport system. Last week saw an MoU inked between executives of Multiverse Enterprise Plc and Addis Abeba Minibus Associations and was held at Vamdas Entertainment near Megenagna. The agreement includes plans to replace 15,000...


Radar

Safaricom Soars with 6.1 million Customers

Safaricom Ethiopia reported significant commercial growth in the first six months of the 2025 fiscal year (April to September 2024), with notable increases in both mobile (GSM) and M-PESA services. The company's network and services reached a population coverage of 46pc, growing from 30pc in the previous year. This expansion was supported by the addition of over 1,000 network sites, bringing the total to more than 3,000 across the country. Safaricom Ethiopia saw a surge in its customer base,...


Back
WhatsApp
Telegram
Email