Regional Enterprise to Build Dam for 1.5b Br

Jun 27 , 2020


[ssba-buttons]

Amhara Water Works & Construction Enterprise secured a deal to construct the Ajimma Chacha Irrigation Dam in the Semien Shewa Zone, Amhara Regional State, for 1.5 billion Br. The agreement was signed between the Irrigation Development Commission Commissioner Micheal Mehari (PhD) and CEO of Amhara Water Works Construction Enterprise, Zemene Tsehay. The Dam, which will be built in the Angolela Tera Wereda, will have a capacity of 59 million cubic metres. It spans over a footprint of 7,000ha and is expected to benefit over 14,000 households. Located in the eastern edge of Semien Shewa Zone, it will have a height of 45m and a length of 371m. The construction of the project is expected to be completed in two years. This year the Commission has awarded four projects worth over eight billion Br including the Kaza Irrigation Dam in western Tigray Regional State for 4.3 billion Br and Kahild Dijo Irrigation Dam in Silte Zone for 1.2 billion Br. Currently, the total irrigated site in the country is far less than eight percent of the 15 million hectares of cultivated land and, from this, only about 20pc of the estimated 5.8 to 7.5 million hectares of the parcel could be irrigated.


Radar

AMG Holdings Breaks Ground on Industrial Rail Link to Ethio-Djibouti Railway

AMG Holdings has launched construction on a 2.5-kilometer railway connecting its Sheger Industrial Park to the Ethio-Djibouti Railway's Endode Station. The Ethiopian-led project comprises 1.7 Kms of main track and 800 meters of side rail. Chief Project Manager Engineer Nigist Hailu said the line is expected to be completed within six months, facilitating the transport of raw materials and finished goods to Djibouti's port. More than 100 local workers have already joined the project, with addi...


Radar

Ethiopian Deposit Insurance Fund Achieves Full Q1 Collection Target

The Ethiopian Deposit Insurance Fund collected 2.08 billion Br in the first quarter of 2025. This meets 100 percent of the target and represents a 26.83 percent increase compared with the same period last year. The rise in premiums was attributed to higher deposits from member financial institutions. To date, the fund has collected a total of 15.93 billion Br in premiums from member institutions, with 14.51 billion Br coming from regular deposits and 1.42 billion Br from interest-free depo...


Radar

Oromia Bank, Ethiopian Airlines Introduce Fly Now, Pay Later via Milkii Digital App

Oromia Bank's Milkii Digital App, launched on May 3, 2025, has introduced a “Fly Now, Pay Later” service that lets customers book Ethiopian Airlines tickets using digital loans, with payments spread over six months after travel with 16.5 interest rate and allows customers to book flights upto 300,000 Br. Developed in collaboration with Ethiopian Airlines, the platform is part of a broader effort to expand digital finance and simplify access to services. The initiative seeks to enhance conven...