Tag Archives: African Development Bank

19Dec/16

Ethiopia opens 1800-megawatt GIBE III Dam

Ethiopia has officially opened the Gibe III Dam, the third largest hydroelectric plant in Africa. This is part of Addis Ababa’s plan to raise power output to 17,346 megawatts from a current capacity of just over 2,200 from hydropower, wind and geothermal sources, part of which the government wants to export to neighbouring countries.

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24Oct/16

Zimbabwe cash shortage brings back ‘bad memories’

Zimbabwe’s fragile economic situation is lurching towards fresh depths amid indications that United States dollar denominations are disappearing from circulation. The development has triggered speculation of a conspiracy to wipe out US dollar notes to pave way for the planned introduction of bond notes, a local currency by the government. Last week Zimbabwe cleared its 15-year-old financial arrears with the International Monetary Fund, a first step towards a new IMF loan program for the cash-starved country.
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07Dec/15

G7, EU pledge 10 bln U.S. dollars to aid Africa’s renewables plan

Group of Seven industrial nations and the European Union back Africa’s renewables plan with 10 billion U.S. dollars.

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