The Ethiopian Electric Utility (EEU) has officially signed a 3 billion birr grid rehabilitation and upgrade agreement with two international engineering and supply firms, Alpha TND and Capital Electech, to comprehensively modernize the power distribution networks in Western and Northwestern Ethiopia.

This major infrastructure initiative specifically targets the upgrading of utility networks in three critical regional hubs: Ambo, Nekemte, and Asosa. Speaking at the official signing ceremony, Getu Geremew CEO of EEU emphasized that the project is vital for stabilizing regional grids, minimizing local outages, and ensuring businesses and households receive a dependable supply of electricity, while urging the contracting firms to strictly adhere to quality standards and the strict two-year completion timeline.

The multi-billion birr initiative focuses heavily on upgrading legacy infrastructure to boost network capacity and drastically reduce technical power losses across the designated areas. As part of the core project components, engineering teams will undertake extensive line upgrades covering 325 kilometers of medium-voltage power lines to expand network capacity and mitigate frequent blackouts.

Furthermore, the contract outlines the modernization and rehabilitation of 235 grid transformers, which includes the strategic overhaul of 70 transformers in Ambo, 121 in Nekemte, and 44 in Asosa. Representatives from Alpha TND and Capital Electech, which are headquartered in Ghana and India respectively, stated that their extensive global expertise in electrical equipment supply, distribution network rehabilitation, and line installation will ensure a high-standard execution.

The overall implementation of this two-year utility project is backed by financial support from the World Bank through a blended funding structure comprising 1.2 billion birr in local currency and 12 million USD in foreign exchange.

This modernization effort aligns directly with a broader national strategy by the EEU to aggressively upgrade regional distribution networks, integrate advanced power infrastructure, and enhance overall customer satisfaction through reliable energy access.

Four Ethiopia’s prominent law offices have officially merged forces to create a major institution named Taza Legal LLP. This merger unites Tameru WondimAgegnehu & Partners, Mesfin Tafesse & Associates (MTA), Mekdes & Associates, and Hanna Mulugeta Law Office into a localized corporate powerhouse designed to challenge the traditional dominance of foreign law firms.

Historically, complex multi-jurisdictional transactions, large-scale project financing, and high-stakes international disputes involving Ethiopian assets were heavily managed by foreign law firms operating out of global financial hubs.

Taza Legal explicitly aims to break this pattern by offering a single, modern, and domestically rooted alternative. Armed with a combined institutional track record spanning over a century, the new firm boasts an integrated team of seven partners and more than 20 elite legal professionals.
This consolidation arrives at a critical juncture as Ethiopia undergoes aggressive, state-backed economic liberalization reforms.

Following the ongoing opening of the financial, retail, and wholesale markets to foreign direct investment, alongside the launch of the Ethiopian Securities Exchange (ESX), the country’s corporate landscape requires an unprecedented scale of legal services.

“Throughout its history, Ethiopian legal practice has been defined by individuals. Taza is founded on a different belief that the future belongs to institutions,” noted Senior Partner Tameru WondimAgegnehu.

Taza Legal will operate as the exclusive Ethiopian member of the African Legal Network (ALN), anchoring its deep local expertise within an integrated alliance across 15 African markets. This uniquely positions the firm to capture cross-border trade flows driven by the African Continental Free Trade Area (AfCFTA).

By our staff reporter

African electric mobility platform Spiro has closed its latest funding round at $270 million after securing a fresh $55 million investment from Chinese growth-stage fund NewTrails Capital. The company said the new capital will support expansion of its battery-swapping network, manufacturing footprint and electric vehicle infrastructure across high-growth African markets.

Spiro said the latest raise reinforces growing international investor confidence in scalable EV and clean energy infrastructure platforms as African economies push to reduce fuel imports, strengthen energy security and modernize urban transport systems. The company is already operating in seven of Africa’s fastest-growing urban markets.

The financing round also includes support from existing institutional and impact investors such as FEDA, Impact Fund Denmark, Equitane, Nithio and the Africa Go Green Fund, Spiro said. The company described the closing as a major milestone in its push to scale across the continent.

Founder and Chairman of Equitane Gagan Gupta said the company has already deployed 100,000 electric vehicles and 2,500 smart-swap stations across seven active markets, adding that the business has moved beyond the proof-of-concept stage. He said the partnership with NewTrails Capital marks a new chapter for Spiro as it prepares for further expansion in Africa and beyond.

NewTrails Capital Founding Partner Yufan Zhang said Spiro is helping drive what he called an energy revolution in African mobility. He said the company’s strengths include its localized operating model, vertically integrated supply chain, digitally enabled ecosystem and ability to scale quickly.

Zhang also said Spiro has built a system that integrates vehicles, batteries, energy replenishment, payments and service networks in a way that addresses long-standing structural gaps in African transport markets. He added that NewTrails sees the investment as a long-term bet on Africa’s energy transition and green technology sector.

Spiro said the new funding will also help advance its localization strategy, including manufacturing and supply-chain development on the continent, particularly through Chinese suppliers.

The company’s latest fundraising underscores a broader trend of global capital moving into Africa’s clean transport and energy systems, especially as governments and private operators seek alternatives to imported fuel and high-emission mobility.