Tag: Ethiopia

Morocco’s OCP Group to establish US$6.1 billion integrated fertilizer complex in Ethiopia

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ETHIOPIA – Morocco’s state-owned phosphate and fertilizer company OCP Group, has signed an agreement with the government of Ethiopia to implement a fertilizer project in Dire Dawa. The project will have an initial estimated investment of approximately US$2.4 billion during the first phase to develop a 2.5-million-ton fertilizer production unit, combining Urea and NPK/NPS products. Its second phase, earmarked to cost US$3.7billion will boost the production capacity to 3.8 million tons per year. The agreement was reached during a high-level delegation visit to Morocco led by Ahmed Shide FDRE Minister…

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Former DSM CEO Feike Sijbesma to spearhead private sector collaboration in new role as WFP Champion

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ROME – The World Food Program of the United Nations (WFP) has appointed former Royal DSM CEO, Feike Sijbesma is its first ever Champion.  Sijbesma has had a long and illustrious career which culminated in him heading Dutch multinational nutritional and health company Royal DSM as Chairman and CEO, a position he held for 13 years.  The career business executive transitioned to the role of Honorary Chairman of Royal DSM in early 2020 and also serves as the Special Corona Envoy for The Netherlands.   He sits on a variety of Supervisory Boards, like Royal Philips, Unilever, and the Dutch Central…

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Habesha Breweries appoints Omo Ohiwerei as new CEO

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ETHIOPIA – Hebesha Breweries, one of the fastest-growing beer companies in Ethiopia, has appointed Mr. Omo Ohiwerei (PMP) as CEO, effective 1st of September 2021.  In a LinkedIn Post, Habesha revealed that Mr. Oweri will be taking over the reigns from Mr. Zewdu Negate, who is leaving the company after 9 years of service.   “We would like to thank Mr. Zewdu Negate for his 9 years of dedicated and passionate leadership as the CEO of Habesha Breweries S.C. which involved significant accomplishments on topline growth, financial performance, and building a sustainable organization,” Habesha Breweries…

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World Bank supports development of Ethiopia’s dairy sector with US$93m financing channelled towards improvement of breed stock

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ETHIOPIA – Ethiopia is seeking to boost milk production in the country by improving its dairy cattle breed stock, through cross-breeding via Artificial Insemination (AI). To spearhead this initiative, World Bank has issued a Birr 4.2 billion (US$93m) financing to the government of Ethiopia. Under the project, according to reports by Capital Ethiopia, the Ministry of Agriculture (MoA) is set to import frozen bovine semen worth Birr 10 million (US$220,000) from Cogent Breeding Limited, a United Kingdom (UK) based company. The imported semen will be sexed, a procedure used to…

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Coca-Cola Beverages Africa partners with NGOs to support communities in Ethiopia, South Africa

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ETHIOPIA – Coca-Cola Beverages Africa-Ethiopia, has signed a Memorandum of Understanding with a Non-Governmental Organization (NGO), Drop of Water, to provide access to clean water to more than 17,000 households. The initiative with a market investment of Birr 3 million will be undertaken through CCBA-Ethiopia’s unit, East Africa Bottling SC, in partnership with the benefiting community and local government. To be undertaken in the community of Bahirdar Zuria Woreda in the Mi’erab Gojam zone, the project will construct a reservoir and pipeline from a rehabilitated borehole. Also, it will undertake…

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Ethiopia receives US$47m grant from AfDB to support establishment of Agro Industrial Parks

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ETHIOPIA – The African Development Bank Group (AfDB) and the Government of Ethiopia have signed a grant agreement worth US$47 million, to be channelled towards the Productivity Enhancement to Support Agro Industrial Parks and Youth Employment Projects. According to the development organization, the industrial parks and youth project will see the establishment of irrigation and water management infrastructure around the Integrated Agro-Industrial Parks. This is aimed to offer opportunities for graduate “agri-preneurs” to establish agro-related, commercially viable businesses. Valued at US$102 million, the venture is being co-financed with the Arab…

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TechnoServe entices Ethiopian coffee farmers to use cost effective, production stimulating technique

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ETHIOPIA – Ethiopia is one of the world’s leading coffee producers, but farm yields are relatively low as coffee growers harvest 40% less per hectare than their counterparts in Uganda and just one-third of what farmers in Colombia produce. According to a report by TechnoServe, the low productivity is attributed to the aging stock of coffee trees in the country, as the plants tend to produce less coffee over time. The non-profit organization has identified that stumping, in which an old single-stem coffee tree is rejuvenated by cutting its stem…

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Ethiopia launches US$231m sugar factory, appoints Ernst & Young to oversee privatization of state-owned sugar plants

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ETHIOPIA – The Prime Minister of Ethiopia, Abiy Ahmed has inaugurated the long-waited Tana Beles Sugar Factory one, constructed in the Amhara regional state. Delayed for over 8 years, the sugar factor project commenced in 2012 with a planned completion date of around 18 months. However, by end of 2017 only about 60 percent of the project was completed forcing the government to cancel the business agreement with the original contractor, Metal Engineering Corporation (MeTeC). CAMCE, a corporation which belongs to China National Machinery Industry Corporation (SINOMACH), took over the…

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Ethiopia’s leading poultry company EthioChicken Group receives US$5m backing from Finnfund

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ETHIOPIA – Ethiopia’s leading producer of day-old-chicks and poultry feed, EthioChicken Group has received US$5m equity investment from OP Finnfund Global Impact Fund I, the first global emerging markets impact fund in Finland. Finnfund, a Finnish development financier and impact investor acts as an anchor investor and advisor to the fund. The financing, which is a follow-on investment from Finnfund’s backing of the company in 2017, is aimed to generate jobs, improve food security and reduce poverty in Ethiopia. “We are very happy to welcome OP Finnfund Global Impact Fund…

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Ethiopia beefs up edible oil production with launch of new US$114m processing plant

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ETHIOPIA – WA Group, Ethiopian multi-sectoral company has set the turbines rolling at its newly built Birr 5 billion (US$114m) edible oil processing plant. The recent investment is a move by the company from importation of edible oil into the country, to refining of crude palm oil imported from abroad, and crushing of locally sourced oil seeds such as niger seed, sesame seed, peanut, soya bean, and haricot bean. WA Oil Factory, located in Amhara Regional State, has the processing capacity of 1.3 million litres of edible oil daily. According…

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