SABCO settles Ethiopia shares case, buys out local shareholders

ETHIOPIA - The dispute between the shareholders of East African Bottling Share Company, bottler of Coca-Cola, was settled after the South African Bottling Company (SABCO) bought the shares of Abinet Gebremesqel, Munir Duri and Dereje Yesuworq for one Billion Birr (US$ 37 million) Out of the total, the former shareowners paid 200 million Br in…

Local firm to set up tomato processing factory in Ethiopia

ETHIOPIA – A company that has been involved in farming and imports and exports, Gonde Import & Export Enterprise, plans to commission a tomato processing plant in Adama (Nazareth), 100Km South-west of Addis Ababa. According to Addis Fortune, the new plant, expected to start operations by mid 2018, will have a production capacity of 5000…

Ethiopian Sugar Corporation and Dubai-based buyer end sugar contract

ETHIOPIA – A Dubai-based sugar trader has pulled out of a contract to supply the Ethiopian Sugar Corporation with 44,000 tonnes of sugar, valued at US$2.2 million. According to Addis Fortune, Agri Commodities had written a letter of termination on October 3, 2017, informing the Corporation on the cessation of contract, valued at US$2.2 million…

Ethiopia’s meat industry attracting new investors

ETHIOPIA – The Ethiopian meat sector has been steadily growing and domestic and foreign investors are showing interest, according to reports by the Ethiopian Meat and Dairy Industry Development Institute. Companies from China, Morocco, South Africa and India are currently interested in the meat-processing sector in the country. Frigorifico Allana, which is part of the…