Worku Aytenew to build $1 bln worth cement plant By Selamawit Mengesha August 20, 2022 It will have the capacity to produce 12,000 tons of cement daily One of Ethiopia's wealthiest investors, Worku Ayetenew begins a process to build a cement plant with an investment capital of USD one billion. In addition to being a prolific writer, Sophonias is also a public speaker and tech enthusiast who believes in harnessing technology to improve the lives of Ethiopians. Other main business sectors of Worku Aytenew include the aviation industry, import-export, farm, and real estate. 105 Followers. 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An example of data being processed may be a unique identifier stored in a cookie. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Sign up here to get the latest news & updates. Moreover, he also serves as Chairman of Ambo Mineral Water, a well-known mineral water bottler in Ethiopia. . The support is said to amount more than 4 Million Birr, according to sources. We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. He believes in investing in diversified high-risk high return business opportunities that create more socio-economic benefits to the country and pays off attractive dividends in long term to its shareholders. Worku is also seeking a partner for the new cement factory, while he has already requested to lease 150 hectares of land for the construction of the plant, which is located around Dejene town, Amhara Regional State, 230 km away from the capital. He was one of the businessmen who supplies palm oil to the local market at a regulated price point with the objective of attaining corporate social responsibility . It is one of the first diagnostic centers with MRI, CT scan Digital X-ray, Ultrasound, EKG, and Ambulance services in the country. Forbes used stock prices from September 3, 2021 to calculate net worths for the list. From the land, they manage to grow soya beans so that they can be a raw material for the Oil Factory. Proud Of Ethiopia And Proud of orthodox. Salary Calculator | Indeed.com When they do, their Tweets will show up here. This huge factory was erected in Debremarkos in Amhara Regional State, on a leased land size of 101,103m2. 617 subscribers. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. More importantly, his name is best known for supplying palm oil to the local market at a regulated price point to attain corporate social responsibility to support the lower of the pyramid consumer base. Tweets & replies. The Story Behind Millionaire Worku aytenew - YouTube With an easy on-boarding process for the recruiters and providing personal assistance to employers, Workruit has made me believe. It will have the capacity to produce 12,000 tons of cement daily. Tigrayans: A Nation Fighting a Genocide - Tghat Search for your future star employee with a simple swipe right. Delegates from 4 African countries visit wheat cluster farming in East Shoa Zone, Trkiye Deputy FM to pay a 4-day working visit to Ethiopia, Delegations from 4 African countries in Ethiopia for study tour, Ethiopia becomes member of Intl Association of Young Entrepreneurs Consortium. *****. He has invested in the palm oil importation business, commercial farming, mining, aviation, and real estate. PM Abiy, high officials inaugurate 5.2bln Birr WA Edible Oil Factory in Officials expect that companies in the pipeline will narrow the current demand-supply gap, while existing factories will use at least 85 percent of their installed capacity on average. 6 talking about this. His academic progress was only limited to sixth grade. In addition to oil, the factory also produces soap detergents. Workruit understands that you are busy building your company and is here to help you save time in finding the right talent. In the same year, Worku joined the aviation industry with an investment capital of USD 40 million. Observing the progress and success, the regional government bestowed another additional 20,000 hectares to the company. The massive manipulation and disinformation campaigns from the Ethiopian government to dehumanize Tigrayans continued unabated. " " Deputy Prime Minister Demeke Mekonnen, Presidents of Amhara, Ormoia and Sidama Regional States Agegnehu Teshager, Shemelis Abdissa and Desta Ledamo, among others have accompanied the Prime Minister at the inaugural ceremony. While 60 % of the companys product is for local consumers, the remaining is exported to foreign countries. Get to know more about the applicants profile that goes beyond the resume. The FDI, Read More Ethiopia attracts $2.43 bln FDI in nine monthsContinue, Spread the NewsTakele Uma (Eng. He writes articles about philosophy, theology, his native Ethiopia, and basically anything and everything else. Accordingly, the SMEs can get, Read More ArifPay launches new approach for SMEs to get loan from banksContinue, Spread the NewsByKaleyesusBekele The Ministry of Mines disclosed that it is holding talks with various international oil firms to develop the natural gas reserves found in theOgadenbasin. Customize the salary calculator by including or excluding unpaid time, such as vacation hours or holidays. Eyob "Joe" Mamo. However, his fortune had a relative fall in net value due to the global fall in oil and gold prices at the time of estimation. Save my name, email, and website in this browser for the next time I comment. Spread the NewsBerhan Bank Share Company has garnered a gross profit of 583.4 million Birr gross profit in 2021/2022 fiscal year ended on June 30, 2022; a profit went up by 72.8% from the previous year. Baby boomers (ages 56 to 74 . Worku Aytenew is also a pace-setter in the fight against the Tigrayan Peoples Liberation Front (TPLF) supporting the Ethiopian government of Prime Minister Abiy Ahmed. SOURCE: Oil & Gas, Real Estate, Technology, Diversified. Representative of Worku Aytenew and Belayneh Kinde, Sisay Taddesse and Asmamaw Alene handed over the cattle to the regional logistics support mobilization committee at Gondar City. The main business of the company is in the production of construction materials such as Cement production, Granite and Marble production, Coal and gold mining, precious stones, and other related materials. Those SMEs have been using ArifPay, a digital transaction system an electronic platform for small shops to manage their sales and modernize their manual inventory system. Here's the net worth you need to have be considered wealthy in 2021 - CNBC TopEthiopia Ethiopian news on Twitter: "Worku Aytenew Net Worth 2022 The company owns and operates close to 35 commercial buildings and apartment buildings in key real estate locations. The consent submitted will only be used for data processing originating from this website. Speaking during Julys Farnborough air show, Tasew says the roadmap is tailored around fast, profitable, sustainable growth and will, Read More New Ethiopian Airlines chief aims for near-doubling of fleet under 2035 roadmapContinue, Spread the NewsArifPay, a fintech company, has introduced new scheme, which enables Small and Micro Enterprises (SMEs) to get a loan from banks. This is a BETA experience. Wel-come to HuluDaily your go to entertainment station make sure to subscribe and turn on notifications to stay updated with all new uploads. PK. After moving to Saudi Arabia at the age of 19, Al Amoudi built a fortune in the construction and real estate industries. On the other hand, in the Amhara region, the sites are found in Debremarkos and Debrework.var cid='6693868498';var pid='ca-pub-4442296776032485';var slotId='div-gpt-ad-typicalethiopian_com-medrectangle-3-0';var ffid=1;var alS=1021%1000;var container=document.getElementById(slotId);var ins=document.createElement('ins');ins.id=slotId+'-asloaded';ins.className='adsbygoogle ezasloaded';ins.dataset.adClient=pid;ins.dataset.adChannel=cid;ins.style.display='block';ins.style.minWidth=container.attributes.ezaw.value+'px';ins.style.width='100%';ins.style.height=container.attributes.ezah.value+'px';container.style.maxHeight=container.style.minHeight+'px';container.style.maxWidth=container.style.minWidth+'px';container.appendChild(ins);(adsbygoogle=window.adsbygoogle||[]).push({});window.ezoSTPixelAdd(slotId,'stat_source_id',44);window.ezoSTPixelAdd(slotId,'adsensetype',1);var lo=new MutationObserver(window.ezaslEvent);lo.observe(document.getElementById(slotId+'-asloaded'),{attributes:true}); Beyond this, Worku is engaged in the farm business launching a company named Worku Farms PLC. The inauguration of W.A Industrial Edible Oil Complex is one such opportunity for engagement in production of basic consumer products he added. Required fields are marked *. He financially supports and motivates the army. The Businessmen, via their representatives, pledged continued support till the government accomplishes law enforcement measures it has been carrying out against the TPLF rebel group. 153 Following. The apartments were 1, 3, 5, 6, and 7-story buildings. A few Ethiopians have built multi-million and billion dollar empires in industries as diverse as agriculture, food, construction, energy and distribution and earned multi-million dollar fortunes to boot. an estimated 3.5 million livestock have died between late 2021 and mid-May 2022, and herd sizes are . One of Ethiopia's wealthiest investors, Worku Ayetenew begins a process to build a cement plant with an investment capital of USD one billion. SOURCE: Agricultural commodities, Import & Export, Palm Oil factory, Real estate, Diversified Their names dont ring with the African public, and youve probably never heard about them before, but they are very successful and very wealthy. Workruit helps you match with qualified professionals, instantly. Your email address will not be published. The company also owns an acrylic yarn dyeing plant, and is also engaged in the import and distribution of heavy-duty machineries and equipment for mining, construction, road making and quarrying. Worku Aytenew. Worku Aytenew is an Ethiopian millionaire and business mogul who owns many huge companies in different parts of Ethiopia. Cabinet approves draft proclamation to automate public procurement Worku is also seeking a partner for the new cement factory, while he has already requested to lease 150 hectares of land for the construction of . Here's the net worth each generation says you need to be considered financially comfortable in 2021: Millennials (ages 24 to 39): $618,000 Gen X (ages 40 to 55): $717,000 Our company comes into existence from a vision of its founder, Worku Aytenew, who invested in the Palm Oil importation business, commercial farming, mining, aviation, and real estate. Workruit understands that you are busy building your company and is here to help you save time in finding the right talent. is a must for skills-based organizations that want to move at the speed of future business, 5 top CFOs on what it takes to become a strategic leader, Not the best idea: Workday co-CEO Aneel Bhusri doesnt like the SECs effort to measure and regulate ESG, Why employee experience must remain a priority, Emerging CFO: Addressing the Talent Gap with Advanced Technologies, CFO Dinner: Generative AI and the Future of Finance, Strengthen your core with this one minute exercise, The Emerging CFO: Rethinking KPIs In the Digital Era, CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. The company made imports with an annual transaction close to ETB 1 billion (USD 35 million) over 5 years. Since February, its valuation has jumped roughly $25 billion, placing it among the most valuable private companies worldwide. This motivating Worku, he advanced into an edible oil project under the name of W.A Oil Factory and Distribution PLC. The company has its head office in Addis Ababa, the capital of Ethiopia. Save my name, email, and website in this browser for the next time I comment. (FEWS NET), pasture conditions are among the driest on record, with few to no migration options. Moreover, Al Amoudi, through MIDROC Ethiopia, has invested in Ethiopia in many different business sectors. Find the best jobs at your fingertips. He writes articles about philosophy, theology, his native Ethiopia, and basically anything and everything else. All rights reserved. Your email address will not be published. Sources: Bloomberg; S&P Global. Bell Textron has made the first delivery of its Bell 505 helicopter to a corporate. Its commodities trading business has revenues of a little over $60 million in 2016. For the prior three years, the cutoff had been $2.1 billion. With so many job portals available online, I found Workruit as the only online hiring platform with such an easy recruitment process. Worku Aytenew to build $1 bln worth cement plant - The Reporter Ethiopia Mr. Aytenew purchased Bell 407 Helicopter, and now this Helicopter will be used for commercial aviation services, according to reports. In addition, in May 2019, Dawit along with his wife founded a popular coffee shop called AKKOO. Akiko through the extensive business dealings of the Orchid Business Group cement her as one of Ethiopia's richest and a billionaire. 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