Genale Dawa Dam Starts Pilot

Dec 7 , 2019


[ssba-buttons]

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

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...