Gullele Soap Factory Plc changed its business organization form to a share company with a capital of 80 Million Birr.

Gullele was owned by Fitsum Zeab, after he bought it from the Privatization and Public Enterprises Supervising Authority (PPESA) some years ago. Fitsum has also managed to acquire Taitu Hotel from PPESA.

The new business license, which grants Gullele the status of a share company, will be issued to the company when it gets the approval for the capital increment it has made.

Gullele has also managed to get approval from the Documents Authentication and Registration Office for its constituting documents.

Gullele is engaged in manufacturing beauty products, soap and detergents.

Source: Fortune