The Golden Africa management company is willing to invest in Ethiopia and thus contribute to its economic development, reveals Wednesday a statement from the Ethiopian Ministry of Commerce and Industries.
The manager of the company, Fouad Hayel, who headed the delegation that met Tuesday with the head of Ethiopian Trade and Industry, Fetlework Gebregziabher, said so.
Golden Africa is a member of Hayel Saeed Anam, a Malaysian-based group operating as a holding company with oil and gas, mining, real estate, banking, construction, trading, services and manufacturing industries.
We are considering a first investment to produce and trade edible oil, and we will be assessing other options that would be profitable for both sides, the executive said, according to the official letter.
In this regard, Gebregziabher stated that Ethiopia imports edible oil to satisfy 90 percent of the demand, which should increase in the coming years along with the growth of the economy.
On the other hand, Hayel stressed the partnership is interested in participating in the Ethiopian economy because of the country’s stability and peace, and its vicinity to the port of Djibouti, as well as having a significant workforce.