The Agreement focuses on a transformative integrated dairy and crop farming project
Addis Ababa, February 17, 2025 (EABC): Ethiopian Agricultural Businesses Corporation (EABC) and Ethiopian Investment Holdings (EIH) have signed a Shareholders Agreement with a foreign company, Asset Green, to collaborate on a transformative integrated dairy and crop farming project. The agreement was signed on February 17, 2025. The project to be implemented in the South-West Ethiopia Peoples’ Region, will be executed in two phases, with a total investment capital of 600 million US dollars (75 billion Ethiopian birr). According to the agreement, Ethiopian Agricultural Businesses Corporation will hold a 25% share, Ethiopian Investment Holdings will have a 24% share, and Asset Green will own the remaining 51%. The first phase of the project will focus on breeding 10,000 dairy cows, including feed production, and processing. The second phase will involve the production and processing of rice, cotton, and oilseeds. The agreement was signed by Brook Taye (PhD), CEO of EIH, Mr. Kifle Woldemariam, CEO of EABC and Asset Green CEO and chairman Mr.Afshin Afsharnejad. The signing ceremony, held at the Skylight Hotel, was attended by Mr. Temesgen Tiruneh, Deputy Prime Minister of the Federal Democratic Republic of Ethiopia, Mrs. Angela Rayner, Deputy Prime Minister of the United Kingdom, Girma Amente (PhD), Minister of Agriculture, Birhanu Nega (PhD), Minister of Education, Mr. Mamo Esmelealem Mihretu, Governor of the National Bank of Ethiopia, Brook Taye (PhD), CEO of the Ethiopian Investment Holdings, Mr. Kifle Woldemariam, CEO of the Ethiopian Agricultural Businesses Corporation, Mr. Afshin Afsharnejad the CEO of “Asset Green” as well as the leaders of Ethiopian Investment Holdings and Ethiopian Agricultural Businesses Corporation, and invited guests.
Addis Ababa, November 12, 2024 (EABC): Ethiopian Agricultural Businesses Corporation (EABC) received walking tractors from Chenese Company, SIFANG on November 12, 2024. During the Handover Ceremony of the walking tractors, Mr. Xu, the General Manager of SIFANG, delivered the tractors to CEO of EABC, Kifle Woldemariam. After receiving tractors, Kifle made a remark that the SIFANG’s walking tractor is designed to enhance productivity and efficiency in farming operations, and it brings new opportunities to modernize agriculture. He added, “together, we are not just handing over a machine but also we are transferring knowledge, building capacity, and ensuring ongoing support for a successful and sustainable future.” Mr. Xu, for his part, pointed out that his company has a work experience of more than 60 years in manufacturing agricultural equipment, and expressed his pleasure to provide walking tractors to Ethiopian farmers, that make agricultural operations easier and more efficient. He also announced that SIFANG is ready to provide training on the use, handling, and maintenance of walking teactors to the technical staff of the corporation and its customers, since November 13, 2024, These 20 horsepower tractors that the Corporation has received are mainly used for the farmers who have small farms. SIFANG’s walking tractors can be used to pull a variety of farm implements for plowing, planting, cultivating, fertilizing, and harvesting crops, and can also be used for trasporting seeds, fertilizers, agrochemicals, as well as watering plants. It is declared that a Memorandum of Understanding (MoU) have been signed between the two business partners (EABC & SIFANG) that enables to assemble the walking tractors at the corporation’s farm equipment workshop.
Ethiopian Agricultural Businesses Corporation (EABC) has earned 846 thousand USD from exported incense, gum and myrrh in the concluded 2016 Ethiopian fiscal year. The foreign currency was obtained from offering 145 tons of forest products of incense, gum and myrrh. Moreover, an income of 13 million birr was obtained by providing 149.8 tons of forest products to the local market. EABC’s Adama branch manager, Mr. Endale Tadesse states that the Corporation has been generating foreign currency for the country. The Corporation collects the products from arid areas of the country like Tigray, Amhara, Somali, Benishangul Gumuz and Oromia regions by producing and purchasing, Mr. Endale pointed out.He also indicated that the corporation has a forest products preparation and exporting center at Adama city. The collected forest products from different areas are combed, blown, separated, graded by color and size, packaged and prepared for export as well, Endale denoted. According to the manager, at present, there are 400 tons of forest products in stock and preparations are being made to export them. Incense, gum and myrrh are mainly used as inputs for medicine, garment, food & beverage, cosmetic and other factories.