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President and CEO of Maatouk Holdings, the leading manufacturers of coffee in the Middle East, will come to Addis Ababa on June to explore investment opportunities in the Ethiopian coffee sector.

Suleiman Dedefo, Ambassador of Ethiopia to the United Arab Emirates (UAE), visited the company, which is one of the buyers of Ethiopian coffee, to encourage its investment in Ethiopia and boost its coffee import from here.

Ambassador Suleiman briefed Mrs Samira Maatouk, President of the Company about Ethiopian coffee sector and coffee varieties.

Mrs Samira Maatouk for her part said her travel to Ethiopia next month aims to discuss on haw to boost coffee import from the country.

According to her, she will visit coffee growing areas in Ethiopia to meet coffee farmers.

During her visit, an investment agreement is also expected to be signed between the Government of Ethiopia and the Company that enables the latter to invest in Ethiopia.

Maatouk’s investment will help the east African nation to supply processed coffee products to the global market, coffee framers to get fair prices for their products and to create employment opportunities.

Source: https://fanabc.com/english/2019/05/maatouk-to-explore-investment-opportunity-in-ethiopian-coffee-sector/

 

 

Ethiopia Commodity Exchange (ECX) said it traded commodities amounting to a worth of 3.3 billion birr in the month of April.

Coffee stood number one in both trade and volume, while sesame, soya bean and white pea followed.

All in all, 30,428 tons of coffee, 19,436 tons of sesame, 19,004 tons of soya bean and 3,888 tons of white pea bean have been traded, ECX said in a press release.

Source: ECX Press Release

https://fanabc.com/english/2019/05/10724/

 

 

KPR Group, an integrated textile manufacturing company from India, inaugurated today its plant built at a cost of $2.5 million at the Mekelle industrial park, Tigray regional state.

KPR made its first apparels export from Mekelle industrial park to the European Union market in January 2019. It has so far exported more than 200,000 units in two-rounds, it was noted at the inauguration ceremony.

Dr Debretsion Gebremichael, Deputy Chief Administrator of Tigray regional state, stated that the inauguration of the plant would contribute a lot is assisting Ethiopia’s industrial transformation.

The company has created employment opportunities for more than 700 people, it was stated.

Meanwhile, Dr Debretsion said a study confirmed the presence of special oil deposit at Ambalage, Nebelet and Adigrat mountainous areas.

He said the special oil will be produced by crushing and melting stones. Efforts will be made to use the resource by inviting global companies as it requires huge amount of investment capital.

Source: https://fanabc.com/english/2019/05/kpr-group-inaugurates-2-5m-built-plant-in-mekelle-industrial-park/

 

 

 

Accor Hotels, a French multinational hospitality company that owns, manages and franchises hotels, resorts and vacation properties, said it is planning to open seven hotels in Ethiopia by 2020. Accor Hotels is the brand name for the company Accor S.A.

Mark Willis, Accor’s CEO for the Middle East and Africa, said his company will open a total of 60 new hotels in 14 countries in Africa in the next four years. Over half of these will be opened in Egypt in the next two years, as the country is “rebounding after external factors hurt the industry,” Mr. Willis said.

Accor has identified Nigeria, Ethiopia and South Africa as key market areas for expansion, planning to open ten, seven and three hotels in the three countries by 2020, respectively.

The French company already operates 143 hotels in Africa, 63 of them Sub-Saharan, and will promote its Mövenpick brand, the CEO added. Mövenpick is one of the 26 marques in Accor Hotels’ portfolio.

Headquartered in Paris, Issy-les-Moulineaux, Évry and Courcouronnes, Accor operates in 100 countries, with more than 4,200 hotels endowed with around 570,000 rooms and 250,000 employees worldwide.

Source: https://fanabc.com/english/2019/05/accor-sa-to-open-seven-hotels-in-ethiopia/

 

 

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