The state enterprises in Ethiopia have generated total revenue of over 300.5 billion birr (about $8.2 billion) during the budget year of the country concluded July 7, 2020.

The companies have made total profit of 55.6 billion Birr before tax, according to Beyene Gebremeskel, Director General of Public Enterprises Holding and Administration Agency (PEHAA). Out of the 21 state owned enterprises included in the report, only one has reported loss, according to the Director, who recalled that the number of companies reported loss the previous year were four.

Wow Peanut Butter is an organic peanut butter brand based in Addis Ababa, Ethiopia. Founder Henok Abera answers our questions.

1. How did you come up with the idea for Wow Peanut Butter?

After graduating from Hawassa University, I was faced with a lack of work opportunities. I was unable to find a job in my field of study, so I started doing marketing for various companies at exhibitions and expos. While I was travelling across Ethiopia for these expos, I searched for business ideas and discovered a gap in the market for peanut butter. I rented a place and bought a grinding machine that could process 30kg of peanuts per day. I had one employee and sold our product to small shops, mini-markets, supermarkets, wholesalers and cafés in Addis Ababa.