The Ethiopian Agricultural Business Corporation (EABC) is ready to provide land, marketing service, trained manpower and also contribute modest capital, said the CEO.
ADDIS ABABA (ENA)–The Ethiopian Agricultural Business Corporation (EABC) is set to manufacture light and low cost agricultural machinery in Ethiopia to increase production and productivity across the country.
Speaking to journalists, the Corporation’s chief executive officer, Ato Kefyalew Berhanu said EABC is eying to manufacture light and low cost agricultural machinery in Ethiopia through joint ventures.
Mentioning the low capacity of Ethiopia to manufacture small-size tractors, mini-power tillers and small farm equipment, the Corporation is looking to working in joint venture with foreign companies, he said.
“The Ethiopian Agricultural Business Corporation is ready to provide land, marketing service, trained manpower and also contribute modest capital,” he indicated.
Manufacturing light and low cost agricultural machines is indispensable for Ethiopia to reduce the cost of importing, he stated, adding that “imported equipment are now beyond the reach of most farmers owing to cost of machinery.”
“Therefore, the corporation would like to manufacture machinery which can be easily driven by small motors, animals and human beings,” Ato Kefyalew said.
In March 2016, the government established EABC to support agriculture through the amalgamation of five state-owned enterprises engaged in agriculture under a corporate structure, it was learnt.
About the Ethiopian Agricultural Business Corporation (EABC)
The Ethiopian Agricultural Businesses Corporation is intercepted as a Federal Government Public Enterprise by Council of Minister Regulation Number 368/2015 on 22nd December 2015 and officially established in March 2016 with 2.4 billion birr capital. EABC was formed by merging five enterprises; namely the Ethiopian Seed Enterprise, Agricultural Equipment and Technical Services S.C., Agricultural Inputs Supply Enterprise, Natural Gum Processing and Marketing Enterprise and Agricultural Mechanization Service Enterprise. The main mission of the Corporation is to provide agricultural inputs and technologies which would improve production and productivity, boost modern farms and agro-industries at very competitive price to make the nation’s economic growth and development.
Source: ENA