Regional Town Gets Solar Farm

Sep 28 , 2019

Qoftu town in Oromia Regional State has been chosen as the site for a solar energy project that has a capacity of generating 250kW of energy. The project that is worth four million dollars was inaugurated on September 20, 2019. Launched last year with South Korean fund, the project will benefit about 800 people or 60 households. The project enables residents of the area to use power for chicken incubators and powers other public services like health centres and schools, according to Frehiwot Woldehanna, state minister of Water & Electricity. The Ethiopian Electricity Utility is working on expanding the project to other sites in the country to address 12 rural kebeles, according to Shiferaw Telila, CEO of Ethiopian Electricity Utility. The government recently launched a national electrification plan to achieve 100pc electricity coverage in the country by 2025 at a total cost of 4.5 billion dollars.  


Ministry Secures $86m Grants

An 86.18 million dollar grant agreement was signed between the Ministry of Finance, UNICEF and UNFPA last week to support the agencies' ongoing country programs for the fiscal year. Out of the total grant, UNICEF committed 70 million dollars to support its water, nutrition, education, health, sanitation, child protection, and gender projects. Meanwhile, UNFPA pledged 16.1 million dollars for family planning, maternal health, adolescent and youth development, and gender equality and women empo...


Authority Reports Fuel Import Stats

Ethiopian Petroleum & Energy Authority (EPA) disclosed that 3.2 million tons of fuel were imported into the country during the last fiscal year. The figure includes 2.04 million tons of diesel and 767,672tns of benzene. In the past fiscal year, the digital payment system, Telebirr, facilitated transactions totalling 103 million volumes worth 61.8 billion Br. Of these transactions, 81.39pc were for diesel, while 17.82pc were for benzene. The number of fuel stations increased from 682 to...


Commercial Bank Collects $3.2b in Foreign Currency

The Commercial Bank of Ethiopia (CBE) announced robust performance in foreign currency collection for the past fiscal year, achieving 3.2 billion dollars in total mobilisation. This includes 2.07 billion dollars in remittances, with the Bank's Diaspora banking service and CBE Birr contributing 89.9 million dollars to the total. The performance details were shared during CBE's annual review meeting last week. "This achievement is particularly gratifying given the challenging economic climat...