Turkish state owned agricultural bank, Ziraat Bank, approached the Ethiopian government and tabled its proposal to open a branch here in Ethiopia. However, this is regardless of the strict prohibition of the government foreign nationals and companies owning entering the financial sector.
Visor, a Turkish company, expressed its wish to engage in Ethiopia’s telecom industry. The Turkish company aims to join the sector at a cost of 3 billion USD.
Visor’s CEO, Gokhan Arasli, led a delegation team that held discussions with President Mulatu Teshome on April 6, 2016. During the meeting the CEO expressed his company’s desire to engage in Ethiopia’s telecom industry by investing 3 billion USD.
The Turkish home and electric appliances manufacturer KUMTEL has opened an Ethiopian coffee house in Istanbul, Turkey, with its own packaging facility.
The Development Bank of Ethiopia (DBE) said that it was evaluating a 2.1 billion birr financing request from SAYGIM - BM Capital Technology Group, a Turkish company which is planning to manufacture fibre optics.
SAYGIM - BM Capital Technology Group is planning to relocate machinery from Turkey to a plot it has acquired in Sebeta, 35km west of Addis Ababa.
Besides fibre optics, the company is planning to manufacture cables for household use and electric transmission lines according to the business proposal it submitted to the bank.
Bedisa Group, a Turkish giant established half a century ago, is negotiating to acquire 75 percent of a sugar project in Ethiopia at an outlay of a little over 1 billion USD. The sugar project is Beles Sugar Project, which is found in Amhara State.
