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Golden Africa Plans to Produce Edible Oil in Ethiopia

A business delegation from Golden Africa, led by Managing Director Fouad Hayel, has met and discussed with Fetlework Gebregziabher, Ethiopian Minister of Trade.

Part of the Malaysia-headquartered Hayel Saeed Anam (HAS) group, which is involved in business operations of various kind encompassing manufacturing, trading and services, Golden Africa, is considering edible oil investment in Ethiopia .

During their meeting, Mrs. Fetlework briefed the delegation on the vast investment potentials in Ethiopia that await investors to tap into the enormous market potential.

Upto ninety percent of edible oil consumed in Ethiopia is imported into the country, while at the same time a surge in demand is expected as living standard improves in Ethiopia, the Minister explained.

Mr. Fouad Hayel, for his part, said his company is “keen to invest in Ethiopia,” mentioning the peace of the country, along with presence of huge labor force and proximity to the Djibouti port as encouraging points. He further said Golden Africa plans to be involved investing in Ethiopia for the coming two years. The company’s involvement is expected to create employment for 1,500 workers.


Source: Fana BC