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

EthSwitch Sees Record Profit, Expands Digital Payment Reach

EthSwitch, the national switch operator, reported a record 1.4 billion Br gross profit for the fiscal year ending June 2025, a 34pc increase from last year's 1.06 billion Br. The performance was driven by a sharp rise in interoperable transactions, reflecting the country's growing embrace of digital payments. Person-to-person (P2P) transfers led revenue generation with 902.6 million Br, nearly half of total income, followed by ATM transactions contributing 825.1 million Br. Overall revenue cl...


Radar

Lion Bank Delivers Robust Results, Rewarding Shareholders

Lion International Bank S.C. posted a profit before tax of 1.8 billion Br for the last fiscal year, marking a 94pc surge from the previous year. The announcement was made during the bank's General Assembly held last week at the Sheraton Addis Hotel. After provisions and taxes, the bank registered a net profit exceeding 900 million Br, with shareholders earning 27pc per share. Deposits climbed by 23pc to 44 billion Br, up from 35.6 billion Br, while total loans and advances reached 36.2 billio...


Radar

Berhan Bank Lifts Earnings as Reforms Ease Forex Strain

Berhan Bank reported a 28.1pc growth in its latest fiscal year, buoyed by economic reforms and relaxed forex directives. The Bank's total deposits climbed to 44.5 billion Br by June 30, 2025, up 7.6 billion Br from the previous year. Net profit distributed to shareholders rose by 36pc, while total income reached 10.3 billion Br, marking a 61.4pc increase. Interest income accounted for nearly 59pc of total earnings, driven largely by the repeal of the National Bank's 70pc forex surrender rule...