Sufian Ahmed, Ethiopia’s long serving Minister of Finance and Economic Development (MoFED), was among the six likely candidates whose names surfaced during the recently concluded annual summit of the African Development Bank (AfDB) as a potential candidate to run for the presidency of the African Development Bank (AfDB) group.
OIL/GAS exploration firm Tullow Oil has found water-bearing reservoirs in its South Omo block, onshore Ethiopia.
Tullow operates the South Omo block with a 50pc equity interest – Africa Oil has a 30pc stake and Marathon Oil another 20pc stake.
Reykjavík Geothermal and the African Union will sign a USD 8 million (EUR 5.8 million, ISK 900 million) contract today allowing Reykjavík Geothermal to start drilling in the Ethiopian Rift Valley as part of two 500 MW power plants under construction. The energy produced by the power plants will be sold to the state electrical company Ethiopian Electric Power (EEP).