Two Electricity Projects Near Completion

Apr 26 , 2019


Ethiopia will get a hydroelectric dam and an electric transmission line that connects the country to Kenya. The Genale Dawa III Hydroelectric Project and the transmission line, which are being constructed by Chinese companies, are expected to be operational by the second half of this year. Gezhouba Group is undertaking the construction of the dam, which is located in the southeastern part of Ethiopia, for 450 million dollars. The electricity transmission line, which extends 1,045Km from Ethiopia to Kenya, is expected to cost 1.2 billion dollars, a project funded by the African Development Bank and the World Bank. Ethiopia’s side of the project, which stands at 433Km, is currently being constructed by the China Electric Power Equipment & Technology and will have a  capacity of producing 2,000MW once it is completed.


Radar

Abyssinia Bank Strategic Moves Pay Off, Driving Profit Growth

The Bank of Abyssinia (BoA) enjoyed another profitable year, amassing 4.23 billion Br net profits, an increase of 10.5pc from last year. The Bank announced total assets of 222.3 billion Br, surging by 17.3pc. Total deposits mobilised through the year climbed by 33.97 billion Br to 192.51 billion Br, while loans and advances reached 167.7 billion Br. However, the bank exhibited a nominal decline in its foreign currency earnings totalling 424 million dollars. Earnings per share also showed a ma...


Radar

$100m Project Mulls Public Transportation Make-Over

A 100-million-dollar project aims to manufacture over 5,000 diesel-powered and electric public transport vehicles for the capital. The proposed project was launched hoping to replace the ageing vehicles and improve safety, efficiency and quality across the city's urban transport system. Last week saw an MoU inked between executives of Multiverse Enterprise Plc and Addis Abeba Minibus Associations and was held at Vamdas Entertainment near Megenagna. The agreement includes plans to replace 15,000...


Radar

Safaricom Soars with 6.1 million Customers

Safaricom Ethiopia reported significant commercial growth in the first six months of the 2025 fiscal year (April to September 2024), with notable increases in both mobile (GSM) and M-PESA services. The company's network and services reached a population coverage of 46pc, growing from 30pc in the previous year. This expansion was supported by the addition of over 1,000 network sites, bringing the total to more than 3,000 across the country. Safaricom Ethiopia saw a surge in its customer base,...


Back
WhatsApp
Telegram
Email