Ethiopia expects 182 mln USD from energy exports in 2023/2024 fiscal year-Xinhua

Ethiopia expects 182 mln USD from energy exports in 2023/2024 fiscal year

Source: Xinhua

Editor: huaxia

2023-10-16 22:12:45

ADDIS ABABA, Oct. 16 (Xinhua) -- Ethiopia expects to earn around 10.1 billion birr (about 182 million U.S. dollars) from energy exports to neighboring Djibouti, Kenya and Sudan in the current 2023/2024 fiscal year, which started on July 8, an Ethiopian official said on Monday.

Ethiopia aims to start energy exports to Tanzania in the 2023/2024 fiscal year, and if the plan is successfully carried out, it will be the first time the East African country exports energy to another country with which it does not share a common land border, Moges Mekonen, communication director of the Ethiopia Electric Power (EEP), a state-owned electric producer, was quoted by the Ethiopia Press Agency.

Ethiopia earned 102 million U.S. dollars from energy exports in the previous 2022/2023 fiscal year. Mekonen said the EEP also plans to earn a further 20 billion birr (about 358.5 million dollars) in revenue from domestic energy-related activities.

Ethiopia's energy export is part of a broader plan to economically integrate the East African region through electricity infrastructure. The Ethiopian government has announced its plan to increase the country's export revenue from electric power to 400 million dollars within 10 years.