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Golden Africa to invest in Ethiopia

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Addis Ababa, April 23, 2019 (MFBC) –Minister of Trade, Mrs Fetlework Gebregziabher, received and held talks with a delegation led by Mr Fouad Hayel, Managing Director of Golden Africa.

Golden Africa is a part of the Hayel Saeed Anam (HAS) group which operates in various business sectors across manufacturing, trading and services.

Mrs Fetlework briefed members of the delegation about the huge investment potentials available in Ethiopia and invited them to take advantage of this untapped market potential.

Ethiopia meets about 90% of its demand for edible oil through import and the demand will increase as the living standard of the people is improving, she said.

Hence, she said, Golden Africa will be gainful if it invests in Ethiopia by taking advantage of the priority package the country has put in place for investors who want to engage in the manufacturing industry.

Mr Fouad Hayel said his company is keen to invest in Ethiopia as the country is peaceful, has huge labor forces, and is located close to Djibouti port.

According to the Managing Director, his company has a plan to engage in investment within the coming two years. The investment is expected to employment opportunities for 1,500 people.