Metal Products Manufacturer Inks Sebeta Expansion Deal

Aug 13 , 2022


[ssba-buttons]

Woda Metal Industry Plc has inked a deal with the Ethiopian Investment Commission to expand its 19hct plant in Sebeta town, Oromia Regional State. The Chinese-owned company is involved in the manufacturing of steel structures such as telecom towers, high voltage cables and metal bellows. Its managers want to expand the facility in Sebeta to cover 100hct, erecting three assembly lines for electric cars, transformers and tyres. They estimate the expansion will require 95 million dollars. Close to 500 medium and large basic metal and engineering industries with a combined annual production capacity of 11 million tonnes operate in the country. Out of the total, 28pc are foreign companies. A lack of raw materials and foreign currency means metal industries are not utilising their full capacity.


Radar

Construction Sector Faces 'Serious Trouble,' Minister Warns

The construction industry in Ethiopia is in "serious trouble," said Chaltu Sani, Minister of Urban & Infrastructure Development, citing major challenges with finance, competitiveness and material costs. Speaking at the opening of the BIG 5 Construct Ethiopia expo and the inaugural East African Infrastructure & Water Expo at Millennium Hall last week, Chaltu stressed the need for concerted efforts from government, private sector, and international partners to support the 67 billion dol...


Radar

Wegagen Bank, Gift Real Estate Partner to Promote Diaspora Homeownership

Wegagen Bank S.C. and Gift Real Estate Plc. signed a Memorandum of Understanding (MoU) on June 23, to offer housing loans for homebuyers, with a special focus on the Ethiopian diaspora. The agreement enables eligible diaspora members to access loans covering up to 80pc of a home's value at reasonable interest rates. The bank's Deputy CEO Kidane Gebreselassie noted the deal will promote the real estate sector and expand homeownership options. Founder and CEO of Gift Real Estate, Gebreyesus Igata...


Radar

Jimma University Signs Sports Science Agreement to Strengthen National Programmes

Jimma University has signed a four-party Memorandum of Understanding (MoU) with the Ethiopian Academy of Sciences, Derartu Tulu Sports Training & Research Institute, and the Oromia Youth & Sport Bureau to advance Ethiopia's sports science and training capacity. Signed on June 26, the agreement includes joint research, shared facilities, and hosting of national and international competitions. It is expected to strengthen youth development, public health, and national pride through coor...