Capital Gets New Bread Factory

Oct 16 , 2021


A bread factory built at a cost of 217 million Br was inaugurated in Addis Abeba last week. Resting on 6,000sqm of land in the Lemi Kura District, the factory has the capacity to produce a million pieces of bread a day and is expected to create job opportunities for 450 people. The factory was inaugurated and handed over to the City Administration in a ceremony held in the presence of the Zinash Tayachew, spouse of Prime Minister Abiy Ahmed (PhD), and Adanech Abiebie, mayor of Addis Abeba. The latest project follows in the footsteps of Sheger Bread Factory, built by the MIDROC Investment Group in cooperation with the City Administration. Constructed last year, the factory is producing way below capacity because of wheat shortages and most of the shops opened to supply its output are closed as a result.


Radar

Sovereign Fund Reviews Mid-Year Performance of Line Companies, Calls for Strategic Improvements

Ethiopian Investment Holdings (EIH) launched its mid-year performance review for its portfolio companies, displaying mixed results for the first half of the fiscal year. Ethiopian Sugar Industry Group (ESIG) reached 95.3pc of its sales goal, selling 64,190tn of sugar for 6.1 billion Br—a 132pc year-on-year growth—despite capacity and supply issues. The Ethiopian Petroleum Supply Enterprise (EPSE) met 92pc and 97pc of its purchase and sales targets, respectively, stating it has benefitt...


Radar

Digital Pay Uptake Booms Among SMEs, Visa Study Finds

Over 80pc of surveyed small- and medium-sized Enterprises (SMEs) have started accepting digital payments in the last two years, according to a new Visa report titled, ‘Value of Acceptance: Understanding the Digital Payment Landscape in Ethiopia'. Citing increased convenience, the report indicates reduced fraud risk and improved efficiency as factors in the uptake. A substantial 66pc of these SMEs believe that investing in digital payment technologies will support future business growth. The...


Radar

ILO Tackles Agricultural Wage Gap

The International Labour Organization (ILO) launched the Setting Adequate Wages in Agriculture (SAW-A) Project last week, with support from the German Federal Ministry for Economic Cooperation & Development (BMZ), seeking to promote fair wage policies, enhance collective bargaining, and support the establishment of minimum wage mechanisms to improve the livelihoods of agricultural workers. The sector employs over 80pc of Ethiopia's workforce, making it the country's largest employment sec...