Ethiopian Investment Holdings (EIH), Ethiopian Agricultural Business Corporation (EABC), and Asset Green have entered into a Shareholders Agreement (SHA) to jointly invest USD 600 million in an Integrated Dairy and Commercial Farming Project in Ethiopia.
This strategic move aims to strengthen Ethiopia’s agricultural sector through large-scale commercial investments and the introduction of advanced agricultural technologies.
The agreement, signed by Dr. Brook Taye, CEO of EIH; Ato Kifle W/Mariam, CEO of EABC; and Mr. Afshin Afsharnejad, CEO & Chairman of Asset Green, will be implemented in two phases. The first phase focuses on establishing a large-scale dairy farming and processing operation, complemented by integrated feed farming on 15,000 hectares to ensure a stable supply chain.
The second phase will expand operations to include cotton, oilseed, and rice farming, along with advanced processing facilities and a dedicated out-grower support center.
“H.E. Ato Temesgen Tiruneh, Ethiopia’s Deputy Prime Minister, stated, “The Ethiopian government is committed to agricultural development, and this initiative aligns with our efforts to enhance food security, create jobs, and stimulate economic growth through investment and technology.”
Dr. Brook Taye, CEO of EIH, described the agreement as a significant milestone in modernizing Ethiopia’s agricultural sector, highlighting EIH’s commitment to incorporating Environmental, Social, and Governance (ESG) standards while leveraging cutting-edge technology for sustainable growth.
Mr. Afshin Afsharnejad, CEO & Chairman of Asset Green, emphasized the company’s dedication to the partnership, noting that the collaboration aims to create a vertically integrated agribusiness that enhances productivity, efficiency, and sustainability.
The Integrated Dairy and Commercial Farming Project is set to generate employment, attract foreign direct investment, and support Ethiopia’s long-term economic development.
In line with EIH’s broader strategy, this initiative will foster large-scale investments in key sectors, further strengthening Ethiopia’s position as a leading agricultural hub in Africa.
The signing ceremony was attended by Ethiopia’s Deputy Prime Minister, H.E. Ato Temesgen Tiruneh, and the Deputy Prime Minister of the United Kingdom, H.E. Angela Rayner.