ADDIS ABABA, Jul 25, 2025 (The Ethiopian Herald/All Africa Global Media via COMTEX) --
The Abbay Dam, also known as the Grand Ethiopian Renaissance Dam (GERD), stands as a landmark project for Ethiopia and the African continent at large.
The dam is aiming to expand energy access to millions and drive regional growth through sustainable hydroelectric power.
Co-founder and CBE Capital CEO Zemedeneh Nigatu, speaking to First Post Africa TV, emphasized that the dam is not only a national triumph but a continental milestone in the quest for energy security. "The Abbay Dam is a strategic and inspiring initiative, offering transformative potential across East Africa, where many communities still lack reliable electricity," he noted.
Now completed and awaiting official inauguration, the dam is poised to generate between 5,000 and 6,000 megawatts of electricity ranking it among the world's largest hydroelectric power plants.
Zemedeneh underscored that the GERD is entirely financed by the Ethiopian government and its people, with major contributions from the Ethiopian Diaspora. "This is a powerful testament to national unity and self-reliance. Ethiopia has accomplished what many developing countries only dream ofa mega project fully owned and executed domestically," he said.
Years earlier, Ethiopia had sought external financing from institutions such as the World Bank, European financial bodies, and U.S. development agencies, but these efforts were rebuffed due to the dam's massive investment requirement, which exceeds five billion USD. Some international observers also questioned the need for such a large-scale facility, estimating Ethiopia's energy demand at just 1,000 to 1,200 megawatts at the time.
Despite these doubts, Ethiopians remained resolute. "This project mirrors the ambition of industrial giants like the U.S. and China during their own development eras," Zemedeneh said. "It is a moment of pride not just for Ethiopia but for Africa."
Addressing misinformation, he clarified that the dam is exclusively a hydroelectric project, not designed for irrigation. Water continues to flow downstream to Sudan and Egypt without being stored or diverted. Ethiopia has engaged in extensive negotiations with Egypt and repeatedly provided technical evidence assuring that the dam will not reduce the water flow to downstream countries.
"This is a project the global community should recognize and support," Zemedeneh concluded. "It symbolizes sustainable development, African self-determination, and a new era of regional cooperation."
COMTEX_467548997/2029/2025-07-25T07:02:52
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