FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds




German Multinational Reaps First Fruits

Jun 19 , 2021


[ssba-buttons]

BASF, a German agri-chem firm, has introduced the first seeds grown in its agricultural production facility in Amhara Regional State to the global market. The firm has done so through Nunhems Ethiopia Plc, which is the domestic entity representing BASF's vegetable seeds division. The eight million euro facility lies on 15ht of land in the Minjar Shenkora Woreda. Two greenhouses sit on two hectares while the rest is used for open field seed production facilities and other infrastructure. The company has around 60 permanent employees and provides job opportunities to over 100 temporary workers. BASF acquired the vegetable seed business from Bayer, a reputed German chemical manufacturer, for 7.6 billion euros in 2018.


Radar

Federal Prosecutors Accuse Public Officials, Contractors of Corruption, Alleged Illicit Fund Transfers

Federal prosecutors have filed corruption and money laundering charges against 11 defendants, including Nigstu Bogale, Coordinator of the Development Project for Response to the Impact of Refugees in the Horn of Africa at the Ministry of Agriculture, Biniyam Fantaye and Taye Habte, senior irrigation engineers involved in the Development Response to Displacement Impacts Project (DRDIP-II), as well as private individuals and construction company representatives. The case alleges losses and illicit...


Radar

EIH Transitions to New Headquarters as It Oversees Major State-Owned Enterprises

Ethiopian Investment Holdings (EIH) is relocating its headquarters from its current site on General Wingate Street. The former headquarters was located behind the Ministry of Industry and near Abrehot Library. The new office is expected to be on Mozambique Street, along the route from Mexico Square to Bulgaria Road. The building belongs to one of EIH's subsidiaries, and all departments are set to move there as interior design and finishing works continue. Under the leadership of Brook Taye...


Radar

Import Substitution Push Lifts Domestic Manufacturing, Industrial Recovery

A push for import substitution and industrial expansion has prioritised 96 strategic products for local manufacturing. The “Ethiopia Tamirt” initiative reports 4.85 billion dollars in savings, supported by trade fairs linking local producers to domestic and international markets. On average, 700 new projects enter the market annually, contributing to more than 2,800 investments over four years. At the grassroots level, 18,000 SMEs have been established, while 993 dormant factories have...