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Flintstone Engineering, Ethiopia is to construct light industry shops furnished with all necessary machinery and equipment for sale.The shops are to be constructed for the manufacture of accessories, printing, leather, apparel and printing.

The shops will be built on land it has leased from the Addis Ababa City Administration.

Flintstone plans to construct 300 manufacturing shops in the first phase of the project with each unit ranging from 10m2 to 40 m2 explained Tsedeke Yihune, Founder and Chief Executive of Flintstone.

Fonds Souverain de Djibouti (FSD) expressed its interest to invest in Ethiopia in areas such as industry, real estate, agri-business, and tourism. The company aims to diversifying and modernizing the economy of Djibouti by focusing on the private sector. Djibouti’s Sovereign Wealth Fund is also diversifying risks through international investment. 

Indian-based horticulture company, Fontana Flowers PLC is to begin horticulture farm operation in Ethiopia with USD 11 million investment cost, Addis Fortune reported.

New Zealand Milk Products Ethiopia S.C., a business enterprise owned by Fonterra and Ethiopia’s Faffa Foods said it plans to export its products in two years.

The price of food rose to 40.7 percent in May from 32.2 percent in April according to Central Statistical Agency’s (CSA) consumer price index released on Tuesday, 14 June 2011.

Food price was deflating at the beginning of the current fiscal year. But since September prices have been escalating after the birr was devaluated against the dollar by 17 percent. The overall annual year on year inflation has now reached the two-year mark.

After assessing the situation in Ethiopia, the International Monetary Fund mission three weeks ago said that rising prices would slowdown the country’s economic growth. IMF’s prediction put Ethiopia’s economic growth for the coming fiscal year at around six percent which contrasts with the government’s estimate of 11 percent.

Source: Capital