Private Equity Firm Buys Stake in Detergent Maker

April 26 , 2019

The Swiss-based private equity firm, Zoscales Partners, bought a majority share of Ethio-Asian Industry, a detergent producer partly owned by East African Holdings. In 2018, Zoscales Partners announced two equity investments worth 75 million dollars they planned to make in Ethio-Asian and CGF Crown Cork Manufacturing, which engaged in the production of crown corks. The firm had planned to invest 45pc of the total amount by the end of the first quarter of 2019. Zoscales, managed by a team of international investment professionals, focus on small and medium-sized companies with superior return potential. Ethio-Asian Industries is also engaged in edible oils after it acquired Hameressa Edible Oil Factory.


UNDP Nods $2m for National Dialogue

United Nation Development Program (UNDP) has signed an agreement with the Ministry of Finance and National Dialogue Commission, allocating 2.2 million dollars for the upcoming national discussion. Managed by an independent trust fund, and in addition to the annual budget allocated by the Ethiopian government, UNDP is looking to set up a financial buffer scheduling to raise 32.8 million dollars in support funds from development partners over the next three years. The Dialogue Commission was est...


Street Snack

The rainy season is going to be missed for at least one reason: boiled corn on the cob. As the customer captured here, it has been an enjoyable street food for the city's residents to keep them warm. More importantly, it was a livelihood for many street vendors. ...


Stair Shop

A shop and a shoeshine stall have been set up under the stairs of an overhead bridge. In the most crowded parts of Addis Abeba, there is always some type of vendor selling everyday goods, serving the lower-income population...