Gomeju Oil Ethiopia, a new entrant to the petroleum distribution, opened 2 gas stations in Tulu Dimtu and Bishoftu on May 7, 2017.

It was back in 2014 that the company was established with an initial capital of 53 million Birr. The shareholders are Tewoderos Yeshwase and his wife Genet Gebre-egiziabher. The shareholders, according to Fortune, are also engaged in coffee and grain export business.

Currently Gomeju operates a total of 24 gas stations all over Ethiopia with a total capital of 700 million Birr.

The company is stationed in Bishoftu City, Oromia State, and it lies on a 25,000 square meters of land. The station is built at an outlay of 250 million Birr and employees 112 people.

During the inauguration of the 2 stations, Yigzaw Mekonnen, the general manager of the company, explained the stations were opened after facing challenges. ”Penetrating the fuel market in Ethiopia is quite full of hardships hindering many interested investors from taking part in the market” said Yigzaw.

The inauguration ceremony was also attended by Motuma Mekasa, Minister for Mines, Petroleum and Natural Gas, Abiy Ahmed, head of the Oromia Urban Development and Housing Bureau, and Jemal Redi, head of the Industrial Development Bureau

Source: Fortune