Addis Ababa: April 6, 2015 (FBC) - Balaaji Manufacturing Plc, an Indian owned company is poised to launch the first brand new electrical motorcycle a.k.a "scooty" assembled in Ethiopia.
The company located in Legetafo, Oromia Region, began its factory operations in 2014 on a 3,600sqm plot of land with initial capital of 250,000 dollars and began production on January, 2015. It has now amassed 450,000 dollars of total capital.
Ethiopia, along with Kenya and Tanzania, will become the flagship of China Africa Cooperation, Chinese official remarked.
At a press briefing he gave on April 5, 2015 in Beijing, Ambassador Lin Songtian, Director-General of African Affairs with the Chinese Ministry of Foreign Affairs, said Ethiopia will be a special hub for Chinese products and technology in the near future and those who wish to buy Chinese products may not need to go all the way to China as they can easily access it in Ethiopia.
The director-general noted that Ethiopia has taken ice breaking measures that can set example for China's collaboration with Africa that mainly focus on industrialization.
Chinese companies have invested more than 100 billion USD last year in Europe and United States to buy assets, Songtian indicated, adding that this much investment would not go to these continents again if Africa is ready to absorb them.
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Addis Ababa: April 8, 2015 (FBC) - Ethiopia is home to the largest population of cattle in Africa. In recent years the country’s leather industry has attracted several foreign companies that have set up factories here.
For instance in 2012, Chinese footwear manufacturer Huajian Group opened a factory at the industrial zone outside Addis Ababa where it manufactures 6,000 pairs of shoes and boots per day.
“The industry has a big future,” says YigzawAssefa, chairman of the Ethiopian Leather Industries Association (ELIA) and CEO of Bahirdar Tannery.
As one of the government’s priority sectors, investors in leather enjoy incentives including duty exemptions on capital goods and construction materials, and five-plus years of an income tax holiday. Other positives of operating in Ethiopia are free access to US and EU markets as well as cheap labour and electricity.