Siket Bank S.C. has announced a strong performance for the 2023/24 fiscal year, recording a net profit of Birr 1.54 billion and total assets of Birr 15.9 billion, reflecting a 30% growth. The bank's results were shared by Board Chairperson Tilahun Worku during the 2nd Stakeholders Ordinary General Assembly on Saturday last week, where he addressed board members, shareholders, and directors.
Silea Agricultural Farm has been privatized by Ethiopia’s Ministry of Public Enterprise and transferred to the privately owned company Lucy Agriculture PLC. Silea is privatized for 59.7 million Birr and Lucy had first opportunity to overhaul the Enterprise before the Ministry floated an open bid.
Repi Soap and Detergent S.C. signed a joint venture agreement with Wilmar International Limited for the purpose of upgrading the Repi manufacturing facility as well as building a new integrated manufacturing complex in the Oromia State, Sebeta town. Repi is a sister company of AL-SAM Plc and Wilmar is a Singaporean agribusiness group.
Sisay Gemechu, State Minister for Industry, is now appointed as the new chief executive officer (CEO) of the Ethiopian Industrial Park Development Corporation (IPDC).
The Sidama Regional Industrial Parks Development Corporation has announced that six new companies would begin operations at the Yirgalem Integrated Agro-Industrial Park within the next two months. The new ventures will focus on processing a range of agricultural products, including milk, avocado, honey, and coffee, sourced from local farmers. These processed goods will be supplied to both domestic and international markets.
