ETHIOPIA anticipates substantial earnings of nearly 10.1 billion birr, (about $182 million) from energy exports to Djibouti, Kenya, and Sudan during the 2023/2024 fiscal year, which commenced on July 8. This promising announcement was made by a high-ranking Ethiopian official on Monday.
The Ethiopian government is actively working towards expanding its energy export market, setting its sights on commencing energy exports to Tanzania within the same fiscal year. If successful, this endeavour will mark a significant milestone as it will be the first time the East African nation exports energy to a country with which it does not share a common land border. Moges Mekonen, the Communication Director of Ethiopia Electric Power (EEP), a state-owned electricity producer, was reported by the Ethiopia Press Agency as saying.
In the preceding fiscal year of 2022/2023, Ethiopia recorded energy export revenues of $102 million. In pursuit of its vision, the EEP has further projected to generate an additional 20 billion birr (about $358.5 million) from domestic energy-related activities.
These initiatives are integral to Ethiopia’s broader plan of enhancing economic integration within the East African region through electricity infrastructure. In line with this ambition, the Ethiopian government has formally announced its aspiration to increase the country’s export revenue from electric power to a staggering $400 million within the next decade.