Ministry to Boost Power Supply by Four-Fold

Jan 11 , 2020


The Ministry of Water, Irrigation & Energy launched a new road map that aims at boosting the country’s power supply by four-fold from its current generating capacity. While having a capacity of generating 40,000MW to 50,000MW of electric power, the country only generates 4,400MW from water and other renewable energy sources, according to the Ministry. The 10-year energy road map aims at expanding the power-generating ability of Ethiopia and to meet the demand, according to Frehiwot Weldehana (PhD), state minister for Water, Irrigation & Energy. The current 20,000Km of electric line coverage will be upgraded to 34,000Km, while the existing 204 electric distribution stations will expand to 256, according to the road map. Ethiopia will also generate 20,000MW of energy at the end of the 10 years, of which 14,000MW will come from hydro, while 1,700MW, 900MW and 2,000MW will be generated from solar, geothermal and wind sources, respectively.


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