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GERD gets 970m Br

Aug 31 , 2019


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The construction of the Grand Ethiopian Renaissance Dam (GERD) received 970 million Br in funding from the public in the recently ended fiscal year. Launched by former Prime Minister Meles Zenawi, the project was awarded to Salini, with track records in building Gilgel Gibe II (420MW) and Tana Beles (460MW) dams. With more than 68pc of its construction completed, the GERD will be one of the biggest dams on the continent with the capacity to generate more than 6,000MW of hydroelectric power when it becomes fully operational with no less than 15 turbines. The GERD, which launched in April 2011, is located in Benishangul-Gumuz Regional State, approximately 500Km northwest of the capital.


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Customs Authorities Intercept Major Alleged Contraband Shipment Worth 422 Million Br

The Customs Commission seized alleged contraband goods worth more than 422 million Br during inspections conducted between June 25 and June 30, 2026. The haul included clothing, electronics, ammunition, construction materials, coffee, vehicle spare parts, cosmetics, khat, narcotics, minerals, livestock and foreign currency. The Addis Abeba Airport, Moyale and Awash customs branches recorded the largest seizures, valued at 115 million Br, 93 million Br and 61 million Br, respectively. Authorit...


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Hijira Bank Posts Record Growth as Assets Reach 31.45 Billion Br

Hijira Bank posted 3.55 billion Br in income in 2025/26, exceeding its combined earnings over the previous four years, while gross profit reached 1.9 billion Br. Assets rose 115pc to 31.45 billion Br, deposits doubled to 24 billion Br, and capital increased 202pc to 7.45 billion Br. Digital transaction value surged 86pc to 41.72 billion Br, foreign currency earnings reached 158 million dollars, and total banking transactions hit 615.39 billion Br. The bank also disbursed 1.5 billion Br in col...


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Gadaa Bank Offers One Million Shares to Public Investors

Gadaa Bank has offered one million shares to the public at 1,050 Br per share following approval from the Ethiopian Securities Exchange (ESX) on June 22, 2026. The share sale keeks to expand the bank's capital base and strengthen shareholder value. The offering will run until September 17, 2026, and is open to existing shareholders and new investors who meet ESX requirements. It is open to existing shareholders and new investors who meet ESX requirements...