Ethiopian Electric Power (EEP) has announced a record-breaking performance in foreign exchange earnings for the 2025/26 fiscal year, reporting a total of USD 475.7 million. This figure represents a 41 percent increase compared to the previous fiscal year and exceeds the utility's original target of USD 455 million by five percent.
Data mining and technology companies have emerged as the primary drivers of this growth. According to the state-owned utility, these firms accounted for USD 335.5 million of the total foreign currency generated, while electricity exports to neighboring countries contributed USD 140.19 million. For broader context on the national foreign exchange environment, these figures reflect a significant shift in the country's export revenue streams.
The utility's reliance on the data mining sector has grown significantly over the last three years. EEP data shows that out of USD 1.15 billion in total foreign exchange earnings over the past five years, USD 611 million—or 53 percent—was derived from data mining operations. Readers can track further financial data and economic trends through our dedicated intelligence portal.
The following table outlines the rapid growth in EEP's annual foreign exchange earnings:
| Fiscal Year |
Earnings (USD) |
| 2021/22 |
68.4 million |
| 2025/26 |
475.7 million |
EEP attributed this financial improvement to several strategic initiatives, including electricity tariff adjustments, the installation of smart metering systems at substations, and operational efficiency measures. Additionally, the utility benefited from increased power generation capacity following the commissioning of units at the Grand Ethiopian Renaissance Dam (GERD). Such infrastructure developments are often key indicators for those looking to invest in Ethiopia.
The utility also cited government-backed reforms, such as the restructuring of nearly ETB 500 billion in debt, as a contributing factor to its improved fiscal standing. In its broader financial reporting for the 2025/26 period, EEP previously disclosed total revenue of ETB 119 billion and a gross profit of ETB 39.5 billion. For more updates on the corporate landscape, follow our Aksion News coverage.
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