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




Nation Completes Megech Seraba Irrigation Project

Oct 26 , 2019


[ssba-buttons]

Megech Seraba Irrigation Project, which was built for 1.3 billion Br, was inaugurated last week in Gonder, Amhara Regional State. Sileshi Bekele (PhD), minister of Water, Irrigation & Energy, and Temesgen Tirunh, head of the Amhara Regional State, attended the inauguration ceremony. Expected to benefit 30,000 household farmers, the irrigation dam has a capacity of developing 4,000ha of land. The 1.8-billion-cubic-metre irrigation dam took seven years to complete. The government, which has endeavored to reduce the cost of mega-projects for the past two years, has allocated close to 15 billion Br this fiscal year for the construction of irrigation dams with the main target of increasing agricultural productivity at a national level. Most of the irrigation dams in the country are known for delays and cost overruns. Beginning this year, the Office of the Auditor-General confronted the Ministry over the inflated costs of the Zarema Mayday and Megech irrigation dams, which have reached a combined total of 13.6 billion Br from the initial estimation of 6.7 billion Br.


Radar

Federal Prosecutors Accuse Public Officials, Contractors of Corruption, Alleged Illicit Fund Transfers

Federal prosecutors have filed corruption and money laundering charges against 11 defendants, including Nigstu Bogale, Coordinator of the Development Project for Response to the Impact of Refugees in the Horn of Africa at the Ministry of Agriculture, Biniyam Fantaye and Taye Habte, senior irrigation engineers involved in the Development Response to Displacement Impacts Project (DRDIP-II), as well as private individuals and construction company representatives. The case alleges losses and illicit...


Radar

EIH Transitions to New Headquarters as It Oversees Major State-Owned Enterprises

Ethiopian Investment Holdings (EIH) is relocating its headquarters from its current site on General Wingate Street. The former headquarters was located behind the Ministry of Industry and near Abrehot Library. The new office is expected to be on Mozambique Street, along the route from Mexico Square to Bulgaria Road. The building belongs to one of EIH's subsidiaries, and all departments are set to move there as interior design and finishing works continue. Under the leadership of Brook Taye...


Radar

Import Substitution Push Lifts Domestic Manufacturing, Industrial Recovery

A push for import substitution and industrial expansion has prioritised 96 strategic products for local manufacturing. The “Ethiopia Tamirt” initiative reports 4.85 billion dollars in savings, supported by trade fairs linking local producers to domestic and international markets. On average, 700 new projects enter the market annually, contributing to more than 2,800 investments over four years. At the grassroots level, 18,000 SMEs have been established, while 993 dormant factories have...