State Surrenders Ownership of Can Plant

Mar 16 , 2019

The government is selling off its stake in Ethiopian Crown Cork & Can Manufacturing Industry S.C. The Public Enterprises Holding & Administration Agency, which owns a 75pc share in the company, is selling its share to GCF Business Group Plc for 130 million Br. GCF Business Group, a local company that has been in the export of cereals, hotels, medical gloves and the production of roof tiles, is the only company that showed an interest in acquiring the company and made a 4.1 million Br offer above the government’s minimum requirement. The buyer will pay 35pc of the total price, 45.5 million Br, to sign the agreement and make the rest of the payment within five years.


Geda Special Economic Zone Receives Prospective Tenants

East African Holding and Ethio-Chicken have been shortlisted to invest in the Geda Special Economic Zone(GSEZ), located in the tri-state area shared by Mojo, Adama, and Shashemene cities within the Oromia Regional State. The two companies were selected from 120 investors who showed interest in acquiring space in one of the largest SEZs in Africa. Close to 404hct of land has already been developed in the expansive economic zone, out of a potential 24,000 hectares, with lease prices set between...


Standard Institute Revamps Fees, Board Restructuring

The Ethiopian Standards Institute (ESI) is set to introduce fees for standards sticker, establish a new governing board, and address collaboration with other regulatory bodies. The Institute plans to strengthen its financial standing by charging fees for standards and product certification services to support its operations and annual budget. A key change involves replacing the current Council of Standards with an 11-member Board of Directors. The Minister of Trade & Regional Integration...


Safaricom Ethiopia Rolls Out its Network to Tigray

With 125 self-built towers, Safaricom Ethiopia has launched its operations in the Tigray Regional State. Executives disclosed plans to invest in an additional 166 towers and expand their reach to the remaining towns. "This is the most exciting milestone in Tigray since the return of social services," said Getachew Reda, president of the Interim Regional State Administration. In July 2021, the consortium-backed telecom giant entered Ethiopia's market, historically dominated by state-owned E...