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GERD gets 970m Br

Aug 31 , 2019

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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Coffee Exports Bring in 1.5B Br in Third Quarter

Ethiopia has earned 1.5 billion dollars from coffee exports over the nine months of the fiscal year. The country had set a target to earn a little over a billion dollars by exporting 201,959tns of coffee during the same period. According to Adugna Debella (PhD), director general of the Ethiopian Coffee & Tea Authority, the export strategy continues to focus on major international markets, with the top 10 destinations, including Saudi Arabia, Germany, and the United States (SU), accounting...

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Central Bank Holds Fourth Exchange Auction

The National Bank of Ethiopia(NBE) sold one dollar for 131.4961 birr in its recent auction. It was reported that 26 banks participated in this auction, which took place last week on Thursday. In a statement issued by the National Bank  following the auction, it was indicated that 70 million dollars was offered for the event. Subsequently, it was reported that 96 pc of the foreign exchange needs of the participating banks were met. In the previous auction, held 15 days ago, the bank had of...

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City Registers 64,075 Births in Fiscal Year

The city has exceeded its birth registration target for the first nine months of the fiscal year, registering 64,075 children—71.15pc more than the set goal of 58,342. This success, with a registration coverage rate of 109.63pc, is largely attributed to the efficiency of the one-centre birth registration service system, which has been rolled out across health centres and courts. The total number of vital events registered, including births, adoptions, marriages, divorces, and deaths, reache...

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