ADDIS ABABA, Ethiopia (BG) — Ethiopia has signed a $600 million agreement to develop an Integrated Dairy and Commercial Farming Project, a move expected to transform the country’s agricultural sector.
Ethiopian Investment Holdings (EIH), Ethiopian Agricultural Business Corporation (EABC), and Asset Green signed the Shareholders Agreement (SHA) to launch the large-scale initiative, EIH announced in a statement on Monday.
The project will be implemented in two phases: the first will establish a world-class dairy farming and processing operation on 15,000 hectares, while the second will expand into cotton, oilseed, and rice farming, supported by advanced processing facilities and an integrated out-grower network.
“This partnership is a testament to Ethiopia’s growing appeal as a destination for large-scale investment in agriculture,” said Temesgen Tiruneh, Deputy Prime Minister of Ethiopia, at the signing ceremony. “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 EIH, called the agreement a milestone for Ethiopia’s agricultural modernization. “By combining expertise, resources, and innovation, we aim to create a transformative impact on the dairy and commercial farming sectors,” he said.
The signing took place during the visit of Angela Rayner, Deputy Prime Minister of the United Kingdom, to Ethiopia. “The UK already works closely with the government and business in Ethiopia and I’m here to see how our two countries can work even more closely together. Benefiting the people of both our nations,” Rayner posted on X.
Temesgen also shared his thoughts on X, stating: “This investment will strengthen the business partnership between Ethiopia and the United Kingdom, boosting agricultural production, creating jobs, facilitating modern farming practices, and encouraging foreign direct investment.”
With cutting-edge technology and strong international partnerships, the project underscores Ethiopia’s commitment to modernized, large-scale agriculture and reinforces its position as a leading agricultural hub in Africa.
