2merkato

The Ethiopian Privatization and Public Enterprises Supervising Agency has endorsed the proposal offered by Horizon Plantation for the six Limu Coffee Farms. Horizon Plantations made an offer of 1.184 billion birr for the purchase of the six farms and the head office of the Limu Coffee Plantation.

The six farms included in the deal are Soka, Gumer, Cheleleki, Goma I, Goma II and Suntu. The bids for each individual farm ranged 70.9 million birr to 266.6 million birr while Horizon offered 60.4 million birr for the Limu Coffee Plantation Head office.

The agreement according to the bid document will entail Horizon paying 35% up front with the difference to be settled over a period of five years.

The Ethiopian Privatization and Public Enterprises Supervising Agency is to officially hand over six state coffee farms and four other enterprises to private investors.

PPESA is also expected to give a final decision with regards to Batu Construction, Awash Winery, Coffee Technology Development Enterprise, Ghion Hotel and the seven coffee farms under Limu Coffee Farm and its headquarters in Jimma town.

The Board of PPESA which is in charge of approving the sale of privatization of any public enterprise and are expected to approve the transfer to winners of the bidding process.

MIDROC and its affiliate has signed a contract for the transfer of three agricultural enterprises previously owned by the Ethiopian government. The contract was signed by Sheikh Mohammed Ali Al Amoudi and Beyene Gebremeskel, Director General of the Ethiopian Privatization & Public Enterprises Supervising Agency, on April 4, 2013, at the Sheraton Addis Hotel.

MIDROC acquired Upper Awash Agro-Industry for 860 million Br, 35pc of which it has paid in advance. HORIZON Plantations, its affiliate, also acquired Coffee Processing & Warehouse Enterprise and Gojeb Farm for 228.2 million Br and 35.1 million Br, respectively, paying 50pc in advance for both.

The Public Procurement and Property Disposal Service (PPPDS) plans to centralize procurement services it provides in the GTP II period, The Daily Monitor reported.

Precise Consult International PLC and Association of Chartered Certified Accountants (ACCA) Ethiopia will host “The CEOs Breakfast” forum on March 28th 2013 at the Sheraton Addis Hotel.

The quarterly event brings top business leaders to venue drawn from companies, government officials, donors, and international agencies and other business leader to discuss business issues in Ethiopia.