The Ethiopian government is preparing to issue a bond worth Birr 900 billion to address unpaid loans provided by the Commercial Bank of Ethiopia (CBE) to government development organizations. The bond, introduced during a recent government session, aims to settle outstanding debts and strengthen the bank’s capital base.
Russian oil and gas company named GPB Global Resources is to make a start on oil exploration project in the Afar Regional State of Ethiopia, The Reporter reported.
The Grand Ethiopian Renaissance Dam (GERD), Ethiopia's mega project on the Blue Nile, has started generating power at 375MW with its first turbine.
The Grand Ethiopian Renaissance Dam (GERD) has surpassed expectations, generating over 2,700 gigawatt hours (GWh) of electricity in the last ten months, according to the Ethiopian Electric Power (EEP). This figure marks a 26% increase over the initial target of 2,152.8 GWh.
The Benishangul Gumuz region has seen an increase in fish production, with the Grand Ethiopian Renaissance Dam (GERD) Lake emerging as a primary source for the burgeoning industry. The Regional Agriculture Bureau reported that in the 2024/25 fiscal year, fish production surpassed Birr 5,895 tons, with over 95 percent of the yield harvested directly from the dam's waters.
