Ethiopia signs KSh400 Bn Deal to build Corbetti Geothermal Plant

Corbetti Geothermal plc (Corbetti), the Government of the Federal Democratic Republic of Ethiopia (GoE) and Ethiopian Electric Power (EEP) have entered into an an implementation agreement (IA) and a power purchase agreement (PPA) for Corbetti, a pioneering geothermal power project planned to deliver up to 520MW of baseload renewable power to Ethiopia’s national grid.

Following extensive collaboration with GoE and EEP, the IA and PPA signings mark a major step in the development of privately developed and financed power in Ethiopia.

Once ratified by parliament, the agreements signed today will enable Corbetti to commence drilling the first production wells next year. It also lays the foundations for subsequent geothermal projects.

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US Congress Pass GOP Tax Bill Awaiting Trump’s Signing

Congress on Wednesday passed the most significant overhaul of the U.S. tax code in 30 years, delivering a landmark legislative victory to President Trump and the Republicans that had once seemed impossible for the fractured party.

Cutting taxes was a promise made, today it’s a promise kept. pic.twitter.com/z8dFPJV4fy

— GOP (@GOP) December 21, 2017

The sweeping measure imprints a clear conservative vision on the tax code that will affect nearly every household and business. Corporations will see a massive tax cut, while most Americans will see temporary savings of various sizes. And in a move that may prove politically perilous, Republicans delivered the biggest gains to the wealthy. Read

U.S. threatens countries with loss of aid over U.N. vote on Jerusalem

President Trump suggested Wednesday that billions of dollars in U.S. foreign aid could hinge on how countries vote on a U.N. resolution condemning his decision to recognize Jerusalem as Israel’s capital and move the U.S. Embassy there.

US Ambassador Nikki Haley sends letter to some UN member states to warn them ahead of UNGA Jerusalem vote, read last paragraph! #sabcnews pic.twitter.com/vdoVQI18p4

— Sherwin Bryce-Pease (@sherwiebp) December 20, 2017

“They take hundreds of millions of dollars and even billions of dollars, and then they vote against us,” he said. “Well, we’ll be watching those votes. Let them vote against us; we’ll save a lot. We don’t care.

“But this isn’t like it used to be, where they could vote against you, and then you pay them hundreds of millions of dollars and nobody knows what they’re doing.” He ended by asserting, “We’re not going to be taken advantage of any longer.” Read: 

Opera enters Nigeria’s mobile money market with Paycom acquisition

Opera Software has completed the acquisition of Nigerian-based payment platform, Paycom PiDO, sources very close to the matter told BusinessDay. Paycom PiDO, an arm of Paycom, is a platform that allows customers transfer money to both users and non-users from their mobile phones.

The company aims to take advantage of the high penetration of mobile phones and Opera Mini’s market share to drive digital innovation.

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