Company to invest USD one billion on Ethiopian potash mine

One of the leading fertilizer manufacturers in the world, Israel Chemicals Ltd (ICL), is going to take over Allana Potash of Canada that owns a potash mine in Ethiopia.

Last year ICL bought 16 of the shares on Allana Potash. On Thursday Allana Potash announced that it reached an agreement with ICL to sell the remaining 84 percent of Allana’s share. The agreement was signed by the two parties in Toronto, Canada at the headquarters of Allana. Allana Potash is a publicly traded company registered in the Toronto Stock Exchange.   

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http://www.thereporterethiopia.com/index.php/news-headlines/item/3339-icl-to-take-over-allana-potash

International brewers are helping transform Ethiopia's business landscape as it slowly sells the assets of the former communist state and opens up to foreigners drawn to one of Africa's fastest growing economies.

Heineken, Diageo and privately-owned Dutch brewer Bavaria, have snapped up state breweries or built new ones in the past four years, introducing new beverages and increasing competition for St George, Ethiopia's oldest beer brand, that was itself bought by France's Castel Group in 1998.

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http://waltainfo.com/index.php?option=com_content&view=article&id=18452:foreign-brewers-battle-for-ethiopias-beer-drinkers&catid=52:national-news&Itemid=291

In business, location is everything.

When looking for opportunities to invest in sub-Saharan Africa, there are few better places than Ethiopia. The country enjoys a unique location at the crossroads between Africa, the Middle East and Asia.

The investment law protects private property, but apart from this basic requisite for cultivating business confidence, there are other clear cut guarantees.

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Source : East African Business Week
http://www.busiweek.com/index1.php?Ctp=2&pI=2934&pLv=3&srI=77&spI=289&cI=10

The 6th international horticulture expo that attracted over 105 foreign and domestic companies kicked off today in Addis Ababa with the Presence of Prime Minister HaileMariam Desalegn.

Companies from Kenya, China, Turkey, Germany, Sweden, the Netherlands, Belgium, and others from the Middle East and Asia are displaying products at the three-day expo.

Buyers from Russia, Germany, Sweden, the Middle East and other countries are also attending the expo.

Speaking on the opening, Prime Minister HaileMariam said Ethiopia has become a center of attraction for Foreign Direct Investment (FDI) in horticulture development.

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http://www.ena.gov.et/en/index.php/economy/item/575-int-l-horticulture-expo-kicks-off-here

With a population nearing 95 million people, The Federal Democratic Republic of Ethiopia is a beacon for foreign direct investment (FDI). This is a big country with big aspirations for future prosperity and invites you to be a part of this great adventure.Being one of sub-Sahara Africa’s fastest growing economies and endowed with huge natural resources, it is no surprise the amount of increasing interest Ethiopia has stirred up among foreign investors all over the world. A Gross Domestic Product (GDP) growth rate of 11% is not something you ignore easily.

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Source : East African Business Week
http://www.busiweek.com/index1.php?Ctp=2&pI=2865&pLv=3&srI=77&spI=289&cI=10