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Vasari Global and its partners have entered the Ethiopian biscuit business and have their eyes on the wider East African market as consumer spending rises.
Ahadukes Food Products, biscuit and pasta factory, built with over 800 million Birr in Bishoftu town of Oromia state inaugurated yesterday.
Just a few years ago, there was comparatively little UK investment in Ethiopia -though it did exist and there are a few very long-term British players in the market.
South African niche spirits company TNB was last week bought for R200m by UK-based investment vehicle Vasari, which plans to grow the company’s reach throughout Africa.
Largest private equity investment in Ethiopia to date recognised as new frontiers deal of the year.
London-based alternative asset manager Duet Group and Vasari, a company with a track record of growing businesses including beverage businesses, announced recently in a press release