African Farming Industries has announced a USD 2 million investment in the Bole-Limi Industrial Park Special Economic Zone to cultivate and export strawberries and saffron.

The company will acquire 5,000 square meters of cultivated land and a 3,000-square-meter shed within the industrial park to begin its operations. To formalize this investment, African Farming Industries has signed a memorandum of understanding (MoU) with the Ethiopian Industrial Parks Development Corporation.

The MoU was signed by Fiseha Yitegesu (PhD), CEO of the Industrial Parks Development Corporation, and Nasser Mahamat, CEO of African Farming Industries. During the signing ceremony, Fiseha Yitegesu (PhD) assured that the corporation would provide the necessary support to ensure the project's success.

Nasser Mahamat stated that African Farming Industries would implement advanced agricultural techniques, particularly vertical farming, to enhance crop production for export. Drawing from its experience in Chad, the company aims to adapt and apply its expertise to Ethiopia’s agricultural sector.

According to the Ethiopian Industrial Parks Development Corporation, this initiative aligns with the country’s broader goal of positioning itself as a key exporter of strawberries and saffron, a valuable medicinal flower. Additionally, the company’s operations are expected to create job opportunities and facilitate technological transfer within Ethiopia’s agricultural sector.

The agreement also highlights the introduction of modern farming techniques, such as hydroponics and vertical farming, which enable crop production without traditional soil use.

Source (including image): IPDC