Ethiopian Business Review

Grand Ethiopian Renaissance Dam

Eight years ago, when Ethiopia announced its bold decision to build the biggest possible dam on the Nile River, to which it contributes 86Pct of the water volume, with financing from domestic resources, the issue grabbed global headlines. Despite considerable consternation in Egypt and Sudan, the country was able to embark on the Grand Ethiopian Renaissance Dam (GERD), which will be the largest hydropower plant in Africa, and the seventh globally upon completion.

Seven years later, however, the Metal and Engineering Corporation (MetEC), the contractor for the electromechanical and hydraulic steel structure work on the project, became a focus of controversy amid allegations of delay, corruption, resource wastage and all sorts of mismanagement. The controversies have since put the GERD on the spotlight; and many even doubted the completion of the project. This was further complicated with the untimely death of Simengew Beleke (Eng.), manager of the project who was found dead of a gunshot wound on July 26, 2018, at Meskel Square, Addis Ababa.

Last year, the government cancelled all the contracts awarded to MetEC and signed contracts with five Chinese, French, and German companies to undertake the electro mechanical works. With this, the government seeks to start the project with a fresh schedule and finish the project in 2022, six years after its initially planned year of completion. However, there are still uncertainties over the finalization of the grand project. EBR’s Ashenafi Endale, who visited the game-changing power project, reports.

Tuesday, 16 July 2019 00:00
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China’s rapidly rising economic and commercial relations with Africa have received much global attention in recent years. Over the last twenty years, China has climbed from being a relatively small investor in Africa to becoming its largest economic partner. Most importantly, China’s billions of dollars in aid and financing have helped many African countries, including Ethiopia, to pursue their most ambitious infrastructure development projects. However, as debt to the Asian Giant piles up, some experts fear the cost. EBR’s Samson Berhane investigates.

Sunday, 16 June 2019 00:00
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The Fight to Develop Commercial Farming

Commercial farming, which dates back to the imperial era in Ethiopia, has gone through many ups and downs. Even though the government gave local and foreign commercial producers the green light to start producing around five years ago, many of the companies that leased land and took loans from the Development Bank of Ethiopia (DBE) have left the sector altogether, citing difficulties with developing their land for production. However, this has left DBE unable to recover the billions of birr it disbursed to commercial farmers. EBR’s Ashenafi Endale explored the problems facing commercial farming, and the potential in its future.

Saturday, 15 June 2019 00:00
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