Founders of the pioneer cab ride-hailing service provider in Ethiopia, ZayRide, take ownership of Abyssinia Cement, a cement miller, located at the northern outskirts of the capital.
Habtamu Tadesse, CEO of ZayRide revealed that his company is diversifying its business ventures in different sector such as manufacturing, agriculture and service sectors including the digital financial sector.
To add to the growing portfolio, the company disclosed that it has accomplished the ownership of Abyssinia Cement located at Chancho, about 45km north of Addis Ababa in Oromia region.
The CEO said that the cement industry was one of the in high-demand lucrative businesses in the country hence the company leaned easily to invest on the industry.
The acquired factory was established almost 15 years back, with the miller having suspended its operation about two years ago. The factory at the current stage mills 500 tons per day, while at its full capacity it has the luxury of producing 1,500 tons per day.
The transaction consumed about 600 million birr, while additional costs to revamp and commence operations may be incurred.
“At the inception, it may need an additional 150 million birr in running cost,” the CEO said.
The factory is located in an area that has enormous limestone resources, which is a major input for cement production. “The youth in the area will supply the limestone,” he explained.
“To start the production phase may take up to two months. So far we are on the maintenance stage and we are drawing linkages with the market and agents,” he added.
“In all the businesses that we have ventured in, we are working aggressively to offer premium services. We may also be the only company that started export within a four month timeframe after embarking in agricultural investment that we have at Gambella region,” Habtamu said signaling that the same pace will be transmitted to the new venture of the cement factory which will start production sooner rather than later.
Most of the big cement factories in the country are located around the area now invested by the ZayRide founders.
On its farm in Gambella, the company produces and exports sesame and green mung bean.
Founders of the first meter taxi in Ethiopia also formed Arifpay Financial Technologies, a financial institution licensed by the National Bank of Ethiopia which provides digital payment solutions, through ArifPOS and ArifGateway.
Arifpay is one of the pioneers on Point of Sale (POS) and Payment System Operator (PSO) with payment solutions for smartphones, POS and QR payment terminals. It has also secured a license to provide payment gateway solutions including utility bills, airtime top up eCommerce, school fee processing and others.
Habtamu claims that his meter taxi is not only a pioneer on the technology based taxi hailing service in the country but ZayRide is also providing the service at comparably competitive rates.
Currently, the founders of ZayRide are involved in the hospitality industry, farming through ventures in sesame and green mung bean, and are also producers of Nigus Honey, and supplier of military logistics. The company also develops and exports software and applications
“We are constructing an electric car assembly at Debre Birhan, 130km north east of Addis Ababa,” said Habtamu showing the breadth of their work portfolio.

Aimed to boost polyethylene terephthalate plastic (PET) bottle collection rates, Coca Cola Beverages Africa (CCBA) launches a pilot project to subsidize plastic beverage bottle collectors in Addis Ababa.
According to the company, the pilot project will run for one year with a two phase implementation period, supporting 30 collectors in the process with a total subsidy of up to 10

million birr.
As indicated, the subsidy will be given to the collectors based on their monthly performance at rates of 1,000 birr per 1000 kg PET. To solidify the partnership, the company signed an agreement with the 30 collectors on Thursday February 23, 2022.
“We are committed to invest in our planet and help making

the worlds packaging problem a thing of past together with coca cola company we have global initiative called world without waste” said Daryl Wilsom, Coca cola beverages Africa in Ethiopia managing director.

The Ethiopian Medical Association gets underway to organize the 59th annual medical conference and international health expo.
With the theme of ‘Roles and responsibility of professional associations, doctors, the public, and stakeholders in modern medical practices, opportunities and challenges,’ the exhibition is reportedly scheduled to take place as a closed live/virtual hybrid event from March 17–18, 2023.
According to the association, this year’s event is special because it adds value to all stakeholders and serves as a launch-pad for overall medical progress, setting a new bar and benchmark for the occasion.
“The event will bring together national and foreign speakers and is a superb platform for networking and sharing knowledge, study findings, and medical practices as more than 25 scientific papers will be present at the event,” the association announced.
As stated, the event is anticipated to draw more than 2000 visitors, including representatives from various health professional associations, specialty society medical college heads, specialty government bodies, and the medical community at large, in addition to an estimated 400 medical figures and decision makers. The event will be held in conjunction with the international health exhibition.

The Ethiopian Medical Association established in 1962 is a membership organization representing medical doctors registered to practice in Ethiopia who aim to see a healthy and prosperous Ethiopian community with access to quality health service. The association seeks to ensure the community receives quality services and promotes the highest standard in medical education, science art and practice and protects medical doctors’ rights and benefits.
The event, having been organized 58 times in the past, has a rich heritage and distinct atmosphere that is attended by the scientific and medical community. It has become a hub that fosters community engagement and robust industry dialogue amongst all stake holders in our country’s medical industry as indicated by the association.

Centered on the theme of ‘Enhanced Export for Sustainable Development’, the 25th edition of International Trade Fair organized by Addis Ababa Chamber of Commerce and Sectoral Association has successfully been kicked off with more than 75 domestic and foreign companies present at the fair.
Endalew Mekonnen, State Minister for Trade and Regional Integration, opened the trade fair on February 23 alongside Mesenbet Shenkute, President of the City Chamber.

The fair is stated as a potential opportunity in promoting products and services and in creating market linkages with international input suppliers and buyers.
The State Minister at the launch said, “Enhancing local industries is a priority to boost the export trade. The government understands this, and is thus striving to create conducive policy and infrastructure environment which is crucial to expand trade and investment. The ministry also acknowledges the role of the city in terms of providing possible policy inputs that would help to see the required economic development in the country.”
The trade fair will run for five days at the Addis Ababa Exhibition Centre.