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Old January 16th, 2011, 11:04 PM   #1
abesha
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ALEMGENA Town, Oromia State | Soap and Detergent Factory | ETB 279 million | U/C

Factory to Cut Ethiopia’s Detergent Import Bill by Half




Founder and owner of Alsam, Sabir Argaw and representative of Desmet Ballestra
January 15, 2011 -
Photo: newbusinessethiopia.com



Quote:
Repi Soap and Detergent Share Company, which is a sister company of AlSam PLC, launches the construction of a new soap and detergent factory, which will reduce by half Ethiopia’s foreign currency spending for importing the products.

The factor which will be constructed with an investment of 279 million birr (around 17.5 million US dollars at the prevailing exchange rate) will be completed within two years.
Supporting the construction of the new factory which is geared towards Ethiopia’s five year plan of transforming its economy from agriculture to industry, the government owned Commercial Bank of Ethiopia has provided around 184 million birr (around 11 million US dollars) loan for Alsam.

This was indicated last night at the Hilton Addis during a memorandum of understanding signing ceremony between an Italian firm, Desmet Ballestra and Alsam.

Desmet Ballestra will supply and install all machineries of the new factory, which has a production capacity of 14 tons of liquid, powder detergents and various soap types per hour.

According to the market research conducted by Alsam, currently there is a high demand for detergent and soap products in Ethiopia while the supply is very low. There is a gap of 94,000 tons between demand and supply.

Representing government, invited guest at the signing ceremony, State Minister of Industry Tadesse Haile, indicated that Ethiopia spends 300 million birr in hard currency every year for importing detergent and soap products.
http://newbusinessethiopia.com/index...ement&Itemid=7
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Old January 16th, 2011, 11:06 PM   #2
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Website of company : http://alsamplc.com/

The guy also owns the buildings rented by ECX. Rich dude.
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Old January 16th, 2011, 11:30 PM   #3
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It seems good. it is not only will reduce by half Ethiopia’s foreign currency, it also will make the products much cheaper and afordable to consumers.
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Old January 16th, 2011, 11:30 PM   #4
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you beat me to it, I was about to post this news. This is the kind of news we want to hear about from Ethiopia. It creates jobs, reduces foreign exchange for the country and contributes immensely to the 5 year GTP.
... and a rich guy will become even richer
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Old January 17th, 2011, 12:24 AM   #5
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Originally Posted by enkelfam View Post

you beat me to it, I was about to post this news. This is the kind of news we want to hear about from Ethiopia. It creates jobs, reduces foreign exchange for the country and contributes immensely to the 5 year GTP.
... and a rich guy will become even richer
the soap industry is a multi-billion dollar industry in Asia which aggregates their economies. The same should be done with Ethiopia and beyond. Lux soap is like one of the top market leaders in Asia.

Last edited by Liones; January 17th, 2011 at 12:42 AM.
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Old January 17th, 2011, 12:47 AM   #6
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Originally Posted by Liones View Post
the soap industry is a multi-billion dollar industry in Asia which aggregates their economies. The same should be done with Ethiopia and beyond. Lux soap is like on the the top market leaders in Asia.
The manufacturing industry in Ethiopia is in its infancy so it will take a while before we start to see a billion dollar soap industry any time soon. All Ethiopian government leaders have and continue to rely heavily on small scale farmer's agricultural produce as the main economic strategy. Obviously this hasn't worked, so Meles has decided to turn Ethiopia into China by using the government to encourage investors from all over to come into Ethiopia and set up shop for export purposes. If everything goes according to plan, there will be more manufacturing industrial plants in the next 5 years than anytime in the history of the country.
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Old January 17th, 2011, 12:53 AM   #7
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To me what's amazing is that just ONE factory can have such a drastic impact on the economy and market. It speaks to how much room there is to invest in industrial production in the country, but also to how far we have to go in general.
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Old January 17th, 2011, 04:32 AM   #8
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Yay for more soap, more jobs and more industry!
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Old January 19th, 2011, 01:46 AM   #9
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Quote:
Originally Posted by enkelfam View Post
The manufacturing industry in Ethiopia is in its infancy so it will take a while before we start to see a billion dollar soap industry any time soon. All Ethiopian government leaders have and continue to rely heavily on small scale farmer's agricultural produce as the main economic strategy. Obviously this hasn't worked, so Meles has decided to turn Ethiopia into China by using the government to encourage investors from all over to come into Ethiopia and set up shop for export purposes. If everything goes according to plan, there will be more manufacturing industrial plants in the next 5 years than anytime in the history of the country.
Exactly what a developing country needs in a leader.
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Old January 19th, 2011, 02:23 AM   #10
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Originally Posted by èđđeůx View Post
Exactly what a developing country needs in a leader.
Melds has realized that he wants to leave a good legacy so he won't be bothered in his retirement.
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