One of the Largest Edible Oil Plants Goes Operational

Feb 6 , 2021


[ssba-buttons]

PhiBela Industrial Complex, a subsidiary of Belayneh Kinde Business Group, has inaugurated an edible oil refinery with a capacity to produce 1.5 million litres of edible oil a day. The factory, which rests on a 30ha lot, was built in Bure city, an area located in West Gojjam, Amhara Regional State, more than 400Km away from Addis Abeba. Built at a cost of 4.5 billion Br, the industrial complex incorporates a sesame oilseed processing plant, a detergent manufacturing factory, and a vegetable butter, margarine and plastic container factory. The sesame oilseed plant has the capacity of producing 200tn of sesame oil a day, while the detergent factory produces 96tn  of detergent a day. The complex is expected to employ 3,000 people. Belayneh Kinde Business Group was established in the 1990s and engages in import and export, transport, construction, hotels, transit and agriculture.


Radar

New Directive Hikes Service Fees for Foreign Investors in Free Trade Zones

The Ethiopian Investment Board has issued a new directive revising the service fees from foreign investors payable in dollars to the Ethiopian Investment Commission (EIC), introducing updated rates for both the One Stop Shop and designated Free Trade Zones. The revised directive came into effect this April following its publication on the websites of the Ministry of Justice and the EIC. Issued pursuant to Article 23 of the Special Economic Zone Proclamation, the directive outlines charges for...


Radar

City Tables 350B Br Budget Plan for Upcoming Fiscal Year

The City Administration has approved a resolution to submit a proposed budget of 350 billion Br for the 2025/26 fiscal year to the City Council for deliberation. According to the Administration's statement on its official social media page, the draft budget is designed with a central focus on poverty reduction, encompassing targeted subsidies for sustainable development, investment in large-scale job-creating projects, and enhanced service delivery to address the growing demands of the reside...


Radar

Ethiopia, UN Launch Joint Plan to Drive Development Through 2030

The Ethiopian government and the United Nations (UN) have signed a five-year development plan outlining national priorities from 2025 to 2030. Signed on June 20 at the Ministry of Finance, the United Nations Sustainable Development Cooperation Framework (UNSDCF) with implications that it aligns with Ethiopia's reform goals and the Sustainable Development Agenda. The plan is backed by a projected 6.5 billion dollars, though only 1.5 billion dollars is currently secured. It focuses on closing t...