Browsing: Ethiopia

• With its vast rivers and elevated terrains, Ethiopia is one of Africa’s most hydropower-rich nations.
• According to the International Hydropower Association, Ethiopia’s untapped rivers could generate up to 45,000 MW of electricity.
• However, While Ethiopia could evolve into a regional ticket to energy independence, some nations like Egypt and Sudan have expressed concerns over water access and environmental impact.

Ethiopia has long harboured dreams of becoming a renewable energy powerhouse. With its vast rivers and elevated terrains, it is one of Africa’s most hydropower-rich nations.

And as global pressure mounts to curb fossil fuel dependency, the country’s hydropower ambitions offer a glimpse into a future where East Africa’s energy needs could be sustainably met.

With expanding projects such as the Grand Ethiopian Renaissance Dam (GERD) and various regional power-sharing agreements underway, Ethiopia is moving beyond its borders, positioning itself as a critical player in East Africa’s renewable energy push.

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• Dutch climate action organization DGB Group aims to restore 12,000 hectares of native forests in Ethiopia’s mountainous region.
• DGB’s iconic bamboo project has been added to the prestigious Verra Verified Carbon Standard (VCS) registry.
• This move ensures that the project not only restores lost ecosystems but also generates measurable, verifiable carbon credits, which are vital element on carbon finance.

Ethiopia, known for its stunning landscapes and rich cultural history, is now setting the stage for a new chapter in sustainability, and a chance to tap billions in climate finance. An ongoing reforestation initiative, spearheaded by Dutch climate action organization, DGB Group, is poised to transform the country’s environmental and economic future.

By restoring vast tracts of native forest, Ethiopia is taking giant strides towards securing its place in the global carbon finance market—a move that could unlock billions in climate finance.

Ethiopia’s ambitious carbon project

In a historic move, Ethiopia’s …

• The 300MW wind farm will be financed, built, and operated by AMEA Power under a 25-year power purchase agreement with Ethiopian Electric Power.
• Covering an area of 18,000 hectares, this project is expected to generate 1,400GWh of electricity.
• Dubai-based renewables developer AMEA Power has been involved in several notable projects across Africa.

Ethiopia is on a path to hosting the Horn of Africa’s largest wind farm. This comes after the country signed an agreement with Dubai-based renewables developer AMEA Power to construct the energy plant in Somali Province, situated to the East of the continent’s second most populous country.

At an estimated cost of $620 million, Aysha Wind Power Project will not only bolster Ethiopia’s energy capacity but also mark a giant step towards sustainable development in the Horn of Africa region.

The letter-of-award for this monumental project was signed by Ahmed Shide, Ethiopia’s Finance Minister, and AMEA Power’s representatives …

• Algeria tops countries holding airlines’ blocked funds in Africa at $261 million followed by countries within the XAF Zone that are trapping $140 million.
• Ethiopia has $115 million in blocked funds for airlines while its neighbour Eritrea is sitting on $75 million.
• Zimbabwe closes the top five countries with blocked funds at $69 million.

Airlines across the world continue to struggle to repatriate their profits, with several African countries accounting for the bulk of blocked funds at $880 million. This amount, which represents 52 percent of the total $1.68 billion blocked funds globally continues to act as a hindrance to the growth of the industry post-Covid-19 fallout.

Data from the International Air Transport Association (IATA) has single out Algeria, the XAF Zone, Ethiopia, Eritrea, and Zimbabwe as the top five countries in Africa where airlines are struggling to repatriate their profits.

Across Africa, Algeria tops among …

• Cash transfer service M-PESA is eyeing a chunk of the remittances to Ethiopia which are estimated at $5 billion annually.
• Last year, the World Bank stated that the remittances flow to countries in sub-Saharan Africa reached $54 billion.
• Through a new M-PESA-Onafriq agreement, friends and relatives from 40 countries will now be able to send money directly to Safaricom Ethiopia M-PESA subscribers.

Safaricom Ethiopia is betting on remittances to grow cash transfer service M-PESA uptake in Ethiopia following an agreement with one of Africa’s largest digital payments network Onafriq. Through the deal, friends and relatives from 40 countries where Onafriq has a presence will now be able to send money directly to M-PESA subscribers in Africa’s second most populous country.

Through the agreement, individuals within Ethiopia will receive remittances from different parts of the world through M-PESA, based on the authorisation received from the National Bank of Ethiopia to start …

• As national debts grow, many African countries find themselves spending more on debt than on health.
• IMF says the debt ratio in Sub-Saharan Africa surged to 60% from 30% of the countries’ GDP between 2013 and December 2022.
• Kenya is for instance using nearly 60% of its annual revenues on paying debt obligations.

As the Africa debt crisis roils, over half of the countries have found themselves spending more money in servicing their loan obligations than even the amount they have budgeted for health services to their citizens.

This unfolding scenario is further burdening millions of their citizens who have little choice but to shoulder heavy tax burdens to settle mountains of debt.

Prof Danny Bradlow, a Senior Research Fellow at the Centre for the Advancement of Scholarship in Pretoria, South Africa, captures the dire situation, stating: “over the  last three years (2019/22), more than 25 African governments allocated …

• Borana region is home to an estimated 1.2 million people, half of whom are women.
• These communities rely heavily on pastoralism for their livelihoods, making them particularly vulnerable to the impacts of climate change.
• In March 2023, over 3.3 million livestock perished due to lack of water, leaving more than 67,000 households without means of economic support.

For decades, millions of people in Ethiopia’s Borana region have borne the brunt of the loss of livelihoods as climate change-induced disasters cause the death of their livestock, leaving them vulnerable to economic difficulties.

This story is, however, set to change following the African Development Fund’s $46.02 million grant to the Borana region to improve water access and sanitation in the area.

This funding, designated for Phase 2 of the Borana Resilient Water Development for Improved Livelihoods Program, is a vital investment in the well-being and future of the region’s pastoral communities.…

• Artificial Intelligence (AI) plays a crucial role in Africa’s socio-economic and political development.
• Currently, tech giant Google is funding the deployment of AI in Africa.
• Google is exploring how AI can address poverty, hunger, and disease in Sub-Saharan Africa.

The Executive Council of the African Union (AU) has resolved that education systems provide the basis for building a strong foundation for Africa’s future, with the powblack friday wig sale custom sublimated hockey jerseys durex intense vibrations ring custom nfl football jerseys custom nfl football jerseys johnny manziel jersey deuce vaughn jersey brock purdy jersey custom maple leafs jersey custom youth hockey jerseys brock purdy jersey fsu football jersey nike air max 90 futura brock bowers jersey blundstone uomo er of Artificial Intelligence (AI) taking center stage.

The resolution was reached at the 44th Ordinary Session held in Addis Ababa from Valentine’s Day through to February 15, 2024.

This meeting …

• Registered customers for M-Pesa Ethiopia rose to 3.1 million from 1.2 million as of half the Financial Year 2023/2024, transacting worth $115.63 million.
• Ethiopia’s National Financial Inclusion Strategy 2021–2025 aims to increase financial inclusion from 45 to 70 per cent of all adults by 2025, partly by scaling digital payments through mobile money services.
• The country also aims to increase the use of digital payments from 20 per cent of all adults in 2020 to 49 per cent by 2025.

Revenue growth for M-Pesa Ethiopia

Safaricom’s M-Pesa in Ethiopia reported revenue returns of $277,139.43 over the nine months ending in December 2023.

Following its August 2023 launch, the operations generated $45,000 over the first four months, with further commitment to grow the numbers.

Registered customers for M-Pesa Ethiopia rose to 3.1 million from 1.2 million as of half the Financial Year 2023/2024, transacting worth $115.63 million.

However, the opportunity for …