Investing in Ethiopia in agro-processing industry would make investors profitable, Precise Consult International, a private consultancy firm said.
Speaking in an AGRF pre-event about investing in Ethiopia held yesterday, Precise Consult International Manager, Henock Assefa said the economic growth of the country makes it preferable destination for investment, particularly in agro-processing.
Investors would be profitable if they engage in this area, since the country exports most of its agricultural outputs as raw and mentioned coffee, sesame and honey, among others as an example.
Although the country is one of the top producers of sesame in the world, it exports it as raw. Companies would utilize this opportunity by increasing sesame productivity and quality, he added.
Dairy products are also another area which has bright prospect in the future in Ethiopia. The fast growth of population and urbanization in the country shows that this area would be very profitable, Henock said.
Managing Partner at Ernst & Young Ethiopia Zemedeneh Nigatu for his part said the country’s favorableness for investment has been showing progress from time to time.
The fast economic growth, cheap labor and electricity service, vast arable land and huge potential for minerals as well as various quota and duty free opportunities to the U.S and EU markets are making the country favorable for investment.
The country is also home for continental leading shipping and logistics service as well as airline carrier.
These factors are attracting giant companies to Ethiopia and a number of them are engaged here, he remarked.
Owner and Manager of Omega Farms, a firm engaged in agro-processing indicated that investing in agriculture will make investors profitable since the sector in Ethiopia has not utilized properly. The country has different ecological system that will enable to grow over 80 types of crops.
The involvement of giant companies engaged in food-processing in the country asserts this fact, he added.
[ENA]