Ethiopian Investment Holdings (EIH), Ethiopian Agricultural Business Corporation (EABC), and Asset Green have entered into a Shareholders Agreement (SHA) to jointly invest USD 600 million in an Integrated Dairy and Commercial Farming Project.
The move is aimed at enhancing Ethiopia’s agricultural sector through large-scale commercial investment and the introduction of advanced agricultural technology.
Signed by Dr. Brook Taye, CEO of Ethiopian Investment Holdings; Ato Kifle W/Mariam, CEO of EABC; and Mr. Afshin Afsharnejad, CEO & Chairman of Asset Green, the SHA deal will be implemented in two phases with initial phase focusing on establishing a large-scale dairy farming and processing operation, with integrated feed farming on 15,000 hectares to ensure a stable supply chain.
The second phase will broaden operations to encompass cotton, oilseed, and rice farming, complemented by advanced processing facilities and a dedicated out-grower support center.
“Ethiopia’s government is committed to agricultural development, as this initiative aligns with our efforts to enhance food security, create employment opportunities, and drive economic growth through investment and technology,” said H.E. Ato Temesgen Tiruneh, Ethiopia’s Deputy Prime Minister.
Dr. Brook Taye, CEO of EIH, hailed the agreement as a major milestone in modernizing Ethiopia’s agricultural sector. He emphasized EIH’s dedication to integrating Environmental, Social, and Governance (ESG) safeguards while harnessing cutting-edge technology to drive sustainable growth.
Mr. Afshin Afsharnejad, CEO & Chairman of Asset Green, reiterated the company’s dedication to the partnership, emphasizing that the collaboration seeks to establish a vertically integrated agribusiness that improves productivity, efficiency, and sustainability.
The Integrated Dairy and Commercial Farming Project is set to create jobs, attract foreign direct investment, and drive Ethiopia’s long-term economic growth.
Aligned with EIH’s broader strategy, the initiative aims to promote large-scale investment in key sectors, strengthening Ethiopia’s position as a leading agricultural hub in Africa.
The signing ceremony was attended by Ethiopia’s Deputy Prime Minister, H.E. Ato Temesgen Tiruneh, and the Deputy Prime Minister of the United Kingdom, H.E. Angela Rayner.
Source : Farmers Review African
