Nation Completes Megech Seraba Irrigation Project

Oct 26 , 2019


Megech Seraba Irrigation Project, which was built for 1.3 billion Br, was inaugurated last week in Gonder, Amhara Regional State. Sileshi Bekele (PhD), minister of Water, Irrigation & Energy, and Temesgen Tirunh, head of the Amhara Regional State, attended the inauguration ceremony. Expected to benefit 30,000 household farmers, the irrigation dam has a capacity of developing 4,000ha of land. The 1.8-billion-cubic-metre irrigation dam took seven years to complete. The government, which has endeavored to reduce the cost of mega-projects for the past two years, has allocated close to 15 billion Br this fiscal year for the construction of irrigation dams with the main target of increasing agricultural productivity at a national level. Most of the irrigation dams in the country are known for delays and cost overruns. Beginning this year, the Office of the Auditor-General confronted the Ministry over the inflated costs of the Zarema Mayday and Megech irrigation dams, which have reached a combined total of 13.6 billion Br from the initial estimation of 6.7 billion Br.


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