Sabir, Wilmar in disputes over share buyout at Cassation Bench

EHIOPIA - Sabir Argaw and his former partner Wilmar Group, in dispute over a share buyout for the past one year, have set out for another battle at the Cassation Bench. The Case reached the Cassation Bench two months ago when Wilmar appealed to the Bench displeased with the Supreme Court’s order in Sabir’s favour,…

KFC to enter Ethiopia with Kaldi’s coffee chain enterprise as franchisee

ETHIOPIA - The company behind Kaldi’s, Ethiopia’s most recognized coffee shop brand, is set to launch the Kentucky Fried Chicken (KFC) franchise in Ethiopia within a year, The Reporter has learnt. Owned by one-time Ethiopian model, Tseday Asrat and Ethiopian Airlines captain, Elias Ketema, KFC Ethiopia is to complement the brands owned by the duo, including Lori-Agro-Industry…

Heineken receives US$49.8 million Forex Access in expansion plans

ETHIOPIA- Heineken has received US$49.8 million Forex Access following the central bank’s instruction to commercial banks to pay the company for its expansion project. The government through the office of the Vice Governor, Yohannes Ayalew had ordered presidents from various banks to make a commitment concerning the same to save a degrading forex and more…

Firms collaborate in construction of US$91.2 million Ethiopian slaughterhouse

ETHIOPIA - Addis Ababa Abattoir Enterprise (AAAE) has granted a consortium of six firms the mandate to oversee the construction of a US$91.2million abattoir in Nefasilk Laphto District, Ethiopia, reports Addis Fortune. The firms, comprising of both local and international companies will supervise the construction of the slaughterhouse with capacity of 8,000 cattle and 21,000…

Competition Authority nullifies Coca-Cola-Ambo Water merger

ETHIOPIA - The Tribunal of Trade Competition & Consumer Protection Authority (TCCPA) declared that East African Bottling, Coca-Cola’s bottler, and Ambo Mineral Water made an illicit merger, fining them five percent of their turnovers from last year. The case began in June 2017, when the Authority’s prosecutors filed a claim stating the two companies had…

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…