Ethiopia's energy focus shifts to geothermal

Ethiopia is working to reduce its heavy reliance on hydropower, which accounted for 97 percent of its electricity production in 2024, according to the International Energy Agency. The country is looking to geothermal energy as a more climate-resilient alternative.

Corbetti project starts drilling in 2027

The Corbetti geothermal project, which could help Ethiopia diversify its energy mix, is set to begin drilling in 2027 near Shashemene in the Oromia region. This project aims to explore underground resources needed for future power generation.

British firm involved in exploration

The British Marriott Drilling Group has been tasked with drilling up to 4 exploration wells as part of the Corbetti project. These wells will help confirm the presence of geothermal resources necessary for building a power plant.

New investors join the project

Taranis Operations has recently become the majority shareholder in the project, with the Private Infrastructure Development Group (PIDG) retaining about 40 percent. PIDG has also contributed an additional 7.2 million USD through its structure InfraCo.

Plans for power plant expansion

The project promoters plan to construct a power plant with an initial capacity of 50 MW. They also intend to expand it later to reach a total capacity of 150 MW, providing a more stable and diversified energy supply for Ethiopia.

Angola introduces new flight route

TAAG, Angola's national airline, is preparing to launch a new direct flight to Cape Verde in December. This move could enhance regional connectivity and tourism between the two countries.

Eastpharma expands in Egypt

Eastpharma is expanding its operations in Egypt, a country witnessing growth in its pharmaceutical industry. This expansion reflects increasing opportunities in the sector as Egypt builds its manufacturing capacity.

Moody's warns of potential losses

Moody's has predicted that external creditors could face losses of 35 to 65 percent due to a downgrade of Senegal's foreign currency rating to "Ca" and a more challenging outlook for debt restructuring.

AfDB secures major funding

The African Development Bank (AfDB) raised 255 million USD in a week after securing a global loan of 2.5 billion USD. This includes a 2 billion Hong Kong dollar issuance for a five-year period, supporting various development projects across Africa.

Bijagós Archipelago recognized

The Bijagós Archipelago in Guinea-Bissau is being highlighted as a significant natural and cultural treasure. Its unique ecosystems and heritage are drawing attention for conservation and sustainable tourism efforts.

French cinema shaped by Maghreb influence

A recent report examines how immigration from the Maghreb region has influenced French cinema over the past six decades. This cultural exchange has contributed to the diversity and richness of French film.