Ethiopian Electric Power said Ethiopia plans to build 71 power projects over the next ten years, at a cost of over $40 billion. Out of the 71 projects, 16 are hydropower, 24 wind, 17 steam, and 14 solar.
Alternet Systems, Inc. (“ALYI”), an electric mobility business headquartered in Miami, Florida (USA), announced that the company is expanding its Electric Vehicle (EV) Rideshare Business Pilot to Ethiopia. ALYI stated the pilot expansion in Ethiopia has been in the works for approximately the whole of last year. Randell Torno, CEO of ALYI, has visited Ethiopia's capital Addis Ababa earlier this month to finalize expansion plans.
Ethiopian Electric Utility, the state-owned power company that provides electricity, said it plans to provide access to electricity generated from solar sources to 25 small towns in rural Ethiopia in the fiscal year that started July 8, 2021.
The gold and copper exploration and development company KEFI, which has a mining project in Ethiopia, announced that it has assembled $356 million in funding packages that it requires for its development of the Tulu Kapi gold project in Ethiopia.
Ethio Telecom, Ethiopia's state-owned telecom services provider, announced it is aiming to increase telecom penetration in Ethiopia to 61 percent in the newly started Ethiopian fiscal year. The company plans to do so by increasing its total number of subscribers by 14 percent to 64 million, mobile voice subscribers by 13 percent to 61.37 million, data and internet users by 16.2 percent to 28.5 million, and fixed broadband subscribers by 48 percent to 554 thousand. By doing so, Ethio Telecom aims to generate 70 billion birr in revenues this year, a 24 percent increase compared to last year.
