Water, Electric Utilities Generate 7.9b Br

Aug 24 , 2019


Addis Abeba Water & Sewerage Authority and Ethiopian Electric Utility have collected more than 7.9 billion Br from operations in the last fiscal year. AAWSA has collected 862 million Br from a planned 1.2 billion Br, while EEU has collected 7.2 billion Br from the target of 9.4 billion Br. AAWSA collected 767.5 million Br from the provision of clean water and the remaining 26.9 million Br was collected from sewerage. AAWASA is working with Commercial Bank of Ethiopia for utility payment services starting from August 1, 2019. EEU takes 40pc of the total revenue, while the remaining 60pc will be taken by Ethiopian Electric Power Authority. Ethiopian Electric Utility is a public enterprise with the main responsibility of distributing electric power across the country, while the latter is involved in electric power generation.


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