Investors Interested in Investing on Islands to be Created by GERD

Addis Ababa August 19/2022 /ENA/ Investors said that they are keen to engage in the hotel and tourism sector on the artificial lake and islands being created by the Grand Ethiopian Renaissance Dam (GERD).

The investors told the Ethiopian News Agency that the dam has created a favorable  environment  for the hospitality industry.

Prime Minister Abiy Ahmed announced last week the successful filling of the GERD for the third time and early power generation of the second turbine.  

According to him, there would be 70 islands on the artificial lake to be created by the dam.

He further urged businessmen at home and abroad to invest in hotels and resorts in this beautiful area.

Investors approached by ENA said that they would indeed engage in the hotel and tourism sector when the dam is completed.

Belayneh  Kende, an Ethiopian investors who is engaged in diverse sectors said apart from the energy to be generated, the dam would help to get huge revenue from the hotel and tourism sector.

The investor revealed that he is interested in participating in the sector when the dam is completed.

“I would like to congratulate the people of Ethiopia for the successful completion of  the third filling of GERD…. Beyond generating electric power, this mega dam will bring tremendous benefits in fishery development, tourism and other areas,” he underscored.    

Reaffirming his commitment and readiness to support the construction of the dam until it is fully completed, the investor urged the public to strengthen their support.

Manager of De Leopol Hotel, Girum Behailu stated that the completion of the dam will allow the creation of many islands.

Lakes and islands will bring good economic opportunities, especially for hotels and tourism industry, he added.

De Leopol Hotel group is desirous in investing in this sector in the future, he added.

The “Grand Ethiopian Renaissance Dam has already reached a critical phase. This, I think, is a great achievement for Ethiopia and its people,” Girum said.

According to him, the economic and social benefits the dam provides are manifold. “I believe that it will bring great opportunity especially for the hotels and tourism sector as there will be  islands and a lake. Therefore, hotel and tourism industry actors will have opportunities to investment.”

So, “we should all prepare for this development.”