Press Release
Addis Ababa, Ethiopia, February 17, 2025 – Ethiopian Investment Holdings (EIH), Ethiopian Agricultural Business Corporation (EABC), and Asset Green have signed a Shareholders Agreement (SHA) to jointly invest in an Integrated Dairy and Commercial Farming Project. This strategic partnership underscores a shared commitment to transforming Ethiopia’s agricultural sector through large-scale commercial investment and the introduction of state-of-the-art technology.
The SHA was officially signed by Dr. Brook Taye, CEO of Ethiopian Investment Holdings; Ato Kifle W/Mariam, CEO of EABC; and Mr. Afshin Afsharnejad, CEO & Chairman of Asset Green, in a formal ceremony attended by H.E. Ato Temesgen Tiruneh, Deputy Prime Minister of Ethiopia, and H.E. Angela Rayner, Deputy Prime Minister of the United Kingdom.
With an investment valued at nearly USD 600 million, the project will be implemented in two phases. The first phase will establish a world-class dairy farming and processing operation, along with integrated feed farming on 15,000 hectares to ensure a sustainable supply chain. The second phase will expand into cotton, oilseed, and rice farming, complemented by advanced processing facilities and an integrated out-growers support center.
Speaking at the ceremony, H.E. Ato Temesgen Tiruneh, Deputy Prime Minister of Ethiopia, emphasized the government’s commitment to agricultural transformation, stating:
“This partnership is a testament to Ethiopia’s growing appeal as a destination for large-scale investment in agriculture. By leveraging international expertise and modern technology, we are strengthening our nation’s food security, creating jobs, and driving economic development.”
Dr. Brook Taye, CEO of Ethiopian Investment Holdings, highlighted the significance of this partnership stating:
“This agreement marks a milestone in Ethiopia’s journey toward modernized and sustainable agriculture. By combining expertise, resources, and innovation, we aim to create a transformative impact on the dairy and commercial farming sectors, ensuring food security, job creation, and economic growth. At the core of the project, EIH is committed to implement Environment, Social and Governance safeguards with state of the art technology “
Mr. Afshin Afsharnejad, CEO & Chairman of Asset Green, also emphasized the importance of this collaboration, noting:
“Asset Green is honored to partner with EIH and EABC in this groundbreaking project. Our shared vision is to develop a vertically integrated agribusiness that leverages cutting-edge technology and best practices to enhance productivity, efficiency, and sustainability.”
The Integrated Dairy and Commercial Farming Project is expected to generate significant employment opportunities, attract foreign direct investment, and contribute to Ethiopia’s long-term economic growth. This partnership also reflects EIH’s commitment to attracting large-scale investment in strategic sectors, reinforcing Ethiopia’s position as a leading agricultural hub in Africa.