Power Agency Lights up Gonder with 246m Br

Dec 10 , 2018


[ssba-buttons]

Ethiopian Electric Power has upgraded and expanded a distribution station located in Gonder for 246 million Br. The project took one year to complete, and it has begun operation with full capacity last month, according to Dawit G.Egziabher, the project site manager. The expansion project upgraded the station’s distribution capacity from 40MW to 166MW and installed two new transformers that can carry 15,000 volts of electricity. These upgrades have relieved the power interruptions that were cause for a lot of complaints from the four industrial parks in Azezo, according to Dawit. In addition to Gonder, the upgrade will also benefit its neighbouring towns


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...