In the wake of privatizing state-owned sugar plants and properties, consultants hired to shape the future sugar sector in Ethiopia have urged the government to remove the existing 33 percent excise tax levied on local producers.
Cementing its six decades of business in the beverage industry of Ethiopia, the Coca-Cola Company under its subsidiary in Ethiopia has tendered its bid to acquire a sugar plant or plants the government is about to privatize in the early months of 2020, The Reporter has learnt.
The Ministry of Finance has released initial documentation for the purpose of inviting local and international investors to express their interests in relation to the privatization of scores of sugar factories, both already commissioned and still under construction, The Reporter has learnt.
The Ethiopian Sugar Development Corporation (ESDC) has awarded a USD 95 million contract for China CAMC Engineering Co. Ltd (CAMCE) – a Chinese construction firm - to undertake the construction of the unfinished Tana Beles-I sugar plant project, The Reporter has learnt.
East Africa Bottling SC, local bottler of Coca Cola, Fanta, Sprite and similar beverage brands in Ethiopia, announced that a sugar consignment destined to its plant in Bahir Dar was intercepted and confiscated by security forces in the town of Goha Tsion, in North Shoa Zone of the Oromia Regional State, starting late last month.
Chronic sugar shortage, one of the immediate causes for the recent violent clashes in Ambo that led to loss of lives and damage to property, is to be ameliorated thanks to the Ethiopian Sugar Development Corporation (ESDC) importing this week of 700,000 quintals of the commodity from Algeria and Thailand for a total of close to USD 30.5 million.
Once again the Ethiopian Sugar Corporation (ESC) has found itself in a middle of a controversy as sugar export worth USD 2.2 million, destined to Kenya, was stuck at Ethio-Kenya border after the Corporation lost contact with the purchasing company.