German Multinational Reaps First Fruits

June 19 , 2021


German Multinational Reaps First Fruits

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.


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Ministry Revokes Hundreds of Mining Concessions

The Ministry of Mines has revoked the licenses of 972 for alleged non-compliance with the terms of their exploration and production permits, and involvement in illicit trade.  Among those on the receiving end of the measure is Kefi Gold, a firm that has been conducting gold exploration in the Western Wellega Zone of the Oromia Regional State for over a decade. The 2,000hct exploration area is estimated to hold deposits of close to 50,000Kg of gold. Last week, the National Bank of Ethiopia ap...


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World Bank, Fed Agree on $715m in Funds to Fight Food Insecurity

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DISRUPTION HOPEFULS

Youths checkout a booth at the AddisRupt Expo 2022, which was hosted at Safari Hotel on June 25, 2022. The expo focused on technological and entrepreneurial work, showcasing over 20 startups to visitors. The promoters of the expo aimed at connecting startups with investors and was organized by firms such as LinkUp Addis, Profit Marketing and Afromile Trading...