Addis Ababa, Ethiopia – More than 200 business leaders, domestic and foreign investors, and government officials attended Ethiopia’s first Agribusiness Investment Forum today. Funded by USAID through its Ethiopia Sustainable Agribusiness Incubator activity, the Forum highlighted lucrative opportunities in the sesame, dairy and honey sectors and featured 18 existing and up-and-coming entrepreneurs who demonstrated their products and services.
The fastest growing economy in Africa over the past decade, Ethiopia has done well due to a dedicated development strategy, which builds up from its diverse agricultural base. Ethiopia is now the fourth largest exporter of sesame, the 10th largest honey producer and fourth largest beeswax producer in the world, as well as the largest livestock producer on the African continent.
The Ethiopia Sustainable Agribusiness Incubator activity, part of the U.S. Feed the Future Initiative, is implemented by Precise Consult International. The activity goal is to transform Ethiopian agriculture sector-by-sector by enhancing the competitiveness of entire value chains.
The Forum provided an analysis on the economics driving profitability in these sectors and created a platform to connect the opportunities the entrepreneurs and the investors.
“USAID, through the Ethiopia Sustainable Agribusiness Incubator activity, is committed to creating the right system to increase the probability of success for these budding enterprises,” said USAID Ethiopia Deputy Mission Director Gary Linden.
As the nation now seeks to transform itself from an agriculture-led economy into an industrial one, it is now seeking to add value to its rich primary production base. The opportunities created for private investors are immense in the areas of supply and adding value.
“USAID is currently one of our largest supporters in our effort to develop agribusiness in Ethiopia,” said State Minister of Agriculture Mitiku Kassa. “We are grateful for that continued partnership.
Remarks by USAID Deputy Mission Director Gary Linden, [PDF, 187 kb]
Last updated: April 16, 2014