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



Wind Turbines in Assela Begin Electricity Supply


Wind Turbines in Assela Begin Electricity Supply

The first turbines at the Assela 100 MW wind farm have begun supplying electricity to the national grid, marking a major step in the country’s renewable energy expansion. Once fully operational by end of 2025, the farm’s 29 turbines are said to generate over 300 GWh annually, enough to power 140,000 households. Located 150 km South of Addis Abeba, the project is owned by Ethiopian Electric Power (EEP) and fully financed by Denmark, the total investment of 146 million euro was supported by a 117.3 million euros loan from Danske Bank and an additional 28.7 million euro grant and built by the Spanish-German company Siemens Gamesa Renewable Energy (SGRE). The wind farm aligns with the country's goals to diversify energy mix, reduce reliance on hydropower, and cut carbon emissions to achieve the sustainable development goals and middle income status by 2030. High-level officials from Ethiopia, Denmark, and the EU celebrated the milestone on May 22, 2025, praising the project’s role in strengthening climate resilience and regional energy integration. Semereta Sewasew, State Minister of Finance for Economic Cooperation, acknowledged the project’s use of blended finance and partnerships, while the Ambassador of Denmark to Ethiopia, Sune Krogstrup called it a fruitful partnership and emphasised Denmark’s on support for clean energy transition not only advances renewable energy capacity but also strengthens the bonds between the two countries.

[ssba-buttons]

Radar

Customs Authorities Intercept Major Alleged Contraband Shipment Worth 422 Million Br

The Customs Commission seized alleged contraband goods worth more than 422 million Br during inspections conducted between June 25 and June 30, 2026. The haul included clothing, electronics, ammunition, construction materials, coffee, vehicle spare parts, cosmetics, khat, narcotics, minerals, livestock and foreign currency. The Addis Abeba Airport, Moyale and Awash customs branches recorded the largest seizures, valued at 115 million Br, 93 million Br and 61 million Br, respectively. Authorit...


Radar

Hijira Bank Posts Record Growth as Assets Reach 31.45 Billion Br

Hijira Bank posted 3.55 billion Br in income in 2025/26, exceeding its combined earnings over the previous four years, while gross profit reached 1.9 billion Br. Assets rose 115pc to 31.45 billion Br, deposits doubled to 24 billion Br, and capital increased 202pc to 7.45 billion Br. Digital transaction value surged 86pc to 41.72 billion Br, foreign currency earnings reached 158 million dollars, and total banking transactions hit 615.39 billion Br. The bank also disbursed 1.5 billion Br in col...


Radar

Gadaa Bank Offers One Million Shares to Public Investors

Gadaa Bank has offered one million shares to the public at 1,050 Br per share following approval from the Ethiopian Securities Exchange (ESX) on June 22, 2026. The share sale keeks to expand the bank's capital base and strengthen shareholder value. The offering will run until September 17, 2026, and is open to existing shareholders and new investors who meet ESX requirements. It is open to existing shareholders and new investors who meet ESX requirements...