Origin Investment Plc, a water bottling company in Ethiopia, sold 43 per cent of its share to Schulze Global Investments Limited, a leading frontier market private investment firm. This growth equity investment was announced at a ceremony held last Saturday.
Origin Water Shareholder and General Manager Roberto Gabresi said on the occasion that Origin Water is taken as a benchmark for quality with its facilities, environment-friendly production process and stringent quality control process. He added the company has poured in huge amount of effort and capital to meet its objectives, which includes providing quality product to the international market.
Further elaborating on this, Gabresi stated that it is a good option to work with foreign companies to meet this goal, and chose Schulze Global Investments Limited because of its value-add capability, managerial expertise, and the people that work for the company’s Ethiopia office, who are highly educated young Ethiopians. “I am sure the partnership will help us strengthen our capabilities enough to be fit to withstand international competition in the future.”
Schulze Global Investments Founder and Executive Chairman Gabriel Schulze for his part said that as an equity investment company they are looking not to start up new companies, but look for great Ethiopian entrepreneurs that are in need of more capital, additional help in management expertise to take their company to higher level. “To this end, Origin is a company that perfectly fits the profile we are looking for; such as very good product, fantastic facility, great manufacturing capabilities with lots of room for growth.”
Schulze said that starting out in 2008 as the first foreign private equity firm to setup in Ethiopia seeing the potential in the country to invest in the private sector, today the sector is growing and will continue to grow as the brightest days for the country and the sector is still ahead. Indicating the benefits of equity investment which,he likened it to partnership of marriage, Schultz said that the partnership provides collaborative approach to make sure the company will achieve a great success.
The Guest of honour Business Diplomacy Director General with the Ministry of Foreign Affairs Hirut Zemene said that the Ministry focuses on economic diplomacy and expressed her happiness over the partnership deal between the local company and influential global companies. She added that such injection of investment and partnership with Schulze Global Investments will help increase production and productivity, create more employment opportunities, and transfer global knowledge and experience. “That is what we need for the development of the private sector in Ethiopia”. Source: All Africa