GERD as Catalyst for Regional Energy Integration - EADB Acting DG

Addis Ababa, February 18, 2026 (ENA) – East African Development Bank (EADB) Acting Director General Bernard Mono has lauded the Grand Ethiopian Renaissance Dam (GERD) as a proud continental initiative strengthening regional energy cooperation and advancing Africa’s collective drive toward power self-sufficiency and industrial growth.

In an exclusive interview with ENA on the sidelines of the African Union Summit, Mono highlighted the significance of the Grand Ethiopian Renaissance Dam (GERD), describing it as a proud continental initiative that strengthens Africa’s path toward energy self-sufficiency.

“I’ve heard of that — a proud initiative by our nations.”

He stressed that power generation is fundamental to industrialization and manufacturing across the continent.

He said the project also brings to mind the Mwalimu Nyerere Dam which undertaken by Tanzania.

“You can’t industrialize if you don’t have power. These initiatives are helpful to make sure that our countries are self-sustaining in power generation. They are tools and catalysts for development.”

Mono expressing hope that more African nations will pursue similar initiatives to ensure reliable electricity supply for economic transformation.

Regarding Addis Ababa's transformation, Mono highlighted visible transformation and stressed the need for African nations to finance their own development through well-capitalized regional institutions.

“I’ve seen the roads. I’ve seen a glowing city. So much construction going on — it shows something right is happening in this country.”

He said such investments signal strong political commitment to economic transformation and industrialization.

Regarding African financial sovereignty, he argued that Africa must strengthen and capitalize its own development finance institutions to reduce dependency on external financing and reshape the narrative around investment risk on the continent.

“We are judged with an eye that does not fully reflect our reality. That is why having homegrown institutions that are well capitalized and delivering at scale is very important.”

According to him, African institutions should assess risk based on on-the-ground knowledge rather than external perceptions.

“Some people assess risk based on what they read in newspapers or what they Google. But here, we know. The reality is that risk in Africa is perceived risk, not real risk.”

He called on governments, investors, and citizens to believe in African institutions — including national development banks — as engines of transformation.

Mono linked financial sovereignty to regional integration and the success of the African Continental Free Trade Area (AfCFTA), noting that Africa must finance its own producers if it is to trade effectively within the continent.

He emphasized collaboration among African development finance institutions — including EADB and other regional banks — to scale up financing for agriculture, manufacturing, SMEs, and infrastructure.

He stressed that Africa must trust its institutions and work together to deepen economic integration and support development from within.

“If Ethiopia has excess wheat, why should we import from outside Africa? Let us finance our farmers and manufacturers so we trade among ourselves.”

He further said that, “If we are not producing, we continue importing from outside Africa. But if we finance manufacturers and farmers so that they produce quality products, why not import and export within Africa?”

East African Development Bank (EADB) is a development financier supporting infrastructure, agriculture, social sectors, and SME growth in Kenya, Tanzania, Rwanda, and Uganda.