2merkato

Catalyst Principal Partners, a Kenya based private equity firm, yesterday announced the acquisition of a 50% stake in Yes Brands Food & Beverages PLC, Ethiopia.

Speaking at the signing ceremony, Catalyst CEO Paul Kavuma said “Yes Brands is the leading bottled mineral water company in Ethiopia with a dominant brand and market share. Catalyst aims to build upon the company’s strength to accelerate growth of the business through enhanced operational capacity, deeper distribution and product innovation.”

A high level Kenyan trade delegation is to visit Ethiopia on a three day trade mission in Ethiopia. The event is organized by the Kenya Association of Manufacturers and the Kenyan Embassy in Ethiopia.

The delegation include senior government officials of the Kenyan government and industry executives from food & beverage, metal, construction sectors. The organization of the event is aimed at nurturing closer economic, political and cultural ties between the two countries.

Kenya’s Electricity Transmission Company stated that the import of cheap electricity from Ethiopia had progressed highly with the plan of constructing high voltage lines commencing in May, Fana Broadcasting Corporate reported.

Uchumi Supermarkets Ltd., Kenya’s only publicly traded retail chain, plans to expand to Ethiopia, according to its CEO Julius Kipng’etich.

Kerui Petroleum, Chinese equipment and oil services company engaged in an energy project in Ethiopia, announced it has successfully lifted the derrick and substructure for the first 1500HP drilling rig at Aluto-Langano, Ethiopia's 70 MW geothermal energy project.