Sovereign Wealth Fund Inks Deal With Japanese Manufacturer for Security Printing

Sep 18 , 2023

In order to strengthen its print manufacturing portfolio, Ethiopian Investment Holdings (EIH) signed an agreement with Toppan Gravity, a Japan-based company, for the establishment of Toppan Gravity Ethiopia. The sovereign wealth fund is also a key shareholder with 38 billion dollars in assets in the Ethiopian Securities Exchange (ESX). Officials have plans to secure a 25 stake in the Exchange, which is expected to be fully operational in 2024. The Securities Exchange has been designed as a multi-faceted platform for trading equities, financial and debt securities, derivatives, and foreign exchange contracts. Security printing is the process of creating documents and products in a professional way that prevents unauthorised copies from being made. With a host of innovative methods, it has come a long way in the past 10 years. Incorporated in 1900, Toppan Gravity based in Tokyo, is a subsidiary of Toppan Leefung, serving as the international development arm of the Toppan Group in the security domain. The print hub will serve as a manufacturing centre for the security printing business that has yet to get a footing in the country as officials hope this venture will contribute to substituting imports and upscaling the efforts to curtail counterfeit and forged documents.