Sovereign Fund Renews Sugar Privatisation Drive


Sovereign Fund Renews Sugar Privatisation Drive

Ethiopian Investment Holdings (EIH) has called for an expression of interest from foreign and domestic investors for the privatisation of eight state-owned sugar factories. The sugar estates up for grabs include four in Omo Kuraz, Tana Beles, and Tendaho as the federal government revives its privatisation efforts. Over a decade ago, the federal government embarked on the construction of 10 sugar plants in hopes of creating sugar industries for the export market and satisfying domestic demand. Five sugar plants lag behind schedule, including three in Omo-Kuraz, Welqayit in the Tigray Regional State, and Arjo Dedessa in the Oromia Regional State. The authorities had initially announced plans to privatise eight of the 13 sugar plants in operation or under construction in 2018. Last July, Ernst & Young was hired as a transaction advisor after offering 3.3 million dollars. However, not a single estate has been sold to private investors yet. The Sugar Industry Group oversees the factories. It is one of over two dozen state-owned enterprises to come under the wing of EIH earlier this year.

[ssba-buttons]

Radar

Korenti, Agelegel Microfinance Ink EV Financing Deal

Korenti Auto Trading PLC has signed a strategic agreement with Agelegel Microfinance to provide accessible financing options for electric vehicle (EV) buyers. The partnership seeks to ease EV ownership by offering fair pricing and loan packages with affordable rates. The initiative supports Ethiopia's push for clean transport and aligns with national sustainability goals. Korenti's managing director said the move reflects the company's commitment to expanding electric mobility. Customers can now...


Radar

NBE Leads Week-Long Bank Supervision Application Forum

The National Bank of Ethiopia (NBE) is hosting a week-long Bank Supervision Application (BSA) User Group meeting that began on July 7, 2025. The BSA system, developed by a pan-African consortium of central banks including the NBE, automates supervisory work for financial regulators. NBE will take over the rotating BSA chairmanship in September. Opening the session, Frezer Ayalew, Director of Bank Supervision, stressed the need for modern tools to handle growing regulatory demands amid cyberse...


Radar

Six Fuel Companies Banned, Seven Warned, Authority Noted Illicit Activity

The Ethiopian Petroleum & Energy Authority has taken disciplinary action against 13 fuel distribution companies for illegally trading 2.8 million litres of fuel outside the digital system in the past two months. Six firms face a one-month suspension from the fuel import and trading market, while seven others received final warnings and must rectify their operations within a month. Director General Destawe Mekwanant (PhD) said the companies failed to monitor fuel stations and ensure proper...