FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds




Power Supplier Looks to Consultants For Solar Project

Jun 30 , 2024


[ssba-buttons]

Ethiopian Electric Power (EEP) is seeking consultants for a 10-month feasibility study on the Utility Scale Weranso Solar PV Project, including hydrology, geotechnical, seismic, and solar resource assessments. This project in Afar Regional State is part of the government's expanded scaling solar program, which aims to boost capacity from 4 to 6 projects totalling up to 750MW. It was first announced four years ago but failed to take off due to conflict and a shortage of financing until the African Development Bank allotted funds a few months ago. Ethiopia has abundant renewable energy resources and has the potential to generate over 60,000 megawatts (MW) of electric power, while current output reaches less than 60pc of the country’s population Despite its energy deficit, Ethiopia exports electricity to Djibouti, Sudan, and Kenya to generate foreign exchange. However, success in solar projects has been mixed with several projects under a Public-Private-Partnership format failing to see the light of day. A 795 million dollar project in three regional states six years ago through the Finance Minstry has failed to atrract international attention.


Radar

Annual U.S.–Ethiopia Real Estate Expo to Debut in July

Harvest Circle Inc., a U.S.-based organisation, will launch the first annual U.S.-Ethiopia Real Estate & Construction Expo in July 2026. The event will bring together Ethiopian and U.S. real estate developers, construction firms, banks, insurers, property managers, and investors to explore partnership, financing, and investment opportunities. Organisers say the platform seeks to promote private sector-led urban development, facilitate diaspora investment, and expand market access for Ethiop...


Radar

Addis Abeba Housing Bureau Warns Landlords against Illegal Rent Hikes, Threatens Legal Action

The Addis Abeba Housing Development and Administration Bureau has issued a warning to landlords attempting to impose unauthorised rent increases or carry out unlawful evictions as the residential leasing cycle nears its statutory June 30 deadline. The warning follows reports of landlords pressuring tenants to vacate properties under claims of personal use or sale, alongside demands for steep rent hikes, according to comments made to state media. Kidist W. Giorgis, Head of the Bureau, said...


Radar

Development Bank Turns Corner as Profit Hits Eight Billion Br

The Development Bank of Ethiopia (DBE) posted a gross profit of eight billion Br in the first nine months of the fiscal year while repaying 15.6 billion Br in outstanding debt. Total income reached 17.3 billion Br, exceeding its target by 12pc. Presenting its performance to the House of Peoples' Representatives Standing Committee for Government Development Organizations, the bank highlighted progress from ongoing reforms, including reducing its non-performing loan ratio to 13.4pc, below the Nati...