Sunday, September 24, 2023
BusinessCepheus Capital partners Tabor Ceramics

Cepheus Capital partners Tabor Ceramics

Cepheus Growth Capital Partners has invested in one of Hawassa’s ceramic makers, Tabor Ceramics Products Share Company and is to hold a “significant minority stake” in the company.

“We see Tabor ceramics as a promising investment opportunity that is very much aligned with the growth trends and trajectory of the Ethiopian economy,” Berhane Demissie and Kassaye Kebede, managing partners of Cepheus said in a statement sent to The Reporter.

For Tabor, the new partnership will give it a strategic advice, managerial and operational support from Cepheus, which is now in the midst of fundraising USD 100 million to invest within Ethiopia in areas of local manufacturing, agro-processing and in the service sector.

“We are excited to partner with Cepheus Capital, as we are at the beginning of a major factory expansion and we are also aiming to improve our management systems and internal operations, to be in line with international standard, Teshome Belamo, a member of the family owned enterprise said.

The company that makes tiles, sanitary ware, tableware, and ceramic insulators is seen as one of the signature companies of Hawassa, giving hundreds of people the much needed local employment.

- Advertisement -

Cepheus Capital is a private equity firm founded on the premise of investing in promising local firms. It has the financial support of the European Union Investment Commission, CDC group and NORFUND to the tune of USD 51 million. Earlier this year, Open Society Foundations, a foundation owned by George Soros also invested an initial investment of USD 10 million into the firm.

- Advertisement -



More like this

Tigray officials demand redesigned transitional justice model

Officials at the Tigray Interim Administration (TIA) reject the...

Controversial property tax proposes selective exemptions

Controversial property tax draft exempts religious institutions and small residences, with eligibility determined by the Finance Ministry based on services rendered. Stakeholders will gather on September 25 to deliberate upon the implications of the draft proclamation.

Yayu Fertilizer transferring reaches 85% after years of delay

Transferring of the long-stalled Yayu fertilizer project, originally awarded to MetEC, has finally made progress, reaching 85% completion. Despite challenges, the transfer to the Chemical Industry Corporation (CIC) is underway. However, the retrieval of 25 containers and compensation for displaced farmers remain unresolved issues, demanding prompt attention.

Nigeria’s leadership transition stalls Ethiopian airlines’ ambitious partnership

With a proven track record of successful collaborations across the continent, Ethiopian Airlines Group eagerly awaits the nod from Nigeria's new government to advance its partnership with Nigerian Air, demonstrating its unwavering commitment to uplifting Africa's aviation sector.