Ethiopian Investment Holdings (EIH), Ethiopian Agricultural Business Corporation (EABC), and Asset Green have signed a Shareholders Agreement (SHA) to launch an Integrated Dairy and Commercial Farming Project. The partnership aims to modernize Ethiopia’s agricultural sector through large-scale investment and advanced technology.
The SHA was signed by Dr. Brook Taye, CEO of EIH; Ato Kifle W/Mariam, CEO of EABC; and Mr. Afshin Afsharnejad, CEO & Chairman of Asset Green. The signing ceremony was attended by H.E. Ato Temesgen Tiruneh, Deputy Prime Minister of Ethiopia, and H.E. Angela Rayner, Deputy Prime Minister of the United Kingdom.
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$600 Million Investment in Two Phases
The project, valued at nearly USD 600 million, will be executed in two phases:
- Phase One: Establishment of a world-class dairy farming and processing facility, with integrated feed farming on 15,000 hectares.
- Phase Two: Expansion into cotton, oilseed, and rice farming, along with advanced processing units and an integrated out-growers support center.
H.E. Ato Temesgen Tiruneh emphasized the government’s commitment to agricultural transformation, stating that the project enhances food security, job creation, and economic growth. Dr. Brook Taye highlighted the partnership as a milestone in modernizing Ethiopia’s agriculture, ensuring sustainability through Environmental, Social, and Governance (ESG) safeguards.
Mr. Afshin Afsharnejad of Asset Green reiterated the importance of the venture, emphasizing the use of cutting-edge technology and best practices to enhance productivity and efficiency.
The initiative is expected to generate significant employment, attract foreign direct investment, and strengthen Ethiopia’s position as a leading agricultural hub in Africa.
