IDC funded cement plant – launches in Ethiopia

IDC funded cement plant – launches in Ethiopia

As part of its objectives aimed at strengthening regional economic integration, the IDC partnered with South African cement manufacturer PPC, the …

As part of its objectives aimed at strengthening regional economic integration, the IDC partnered with South African cement manufacturer PPC, the Trade and Development Bank (formerly PTA) and a host of Ethiopian companies to develop a cement plant in Ethiopia.

This partnership has now culminated in the launch of Habesha cement plant. Together with PPC, the IDC holds a significant stake in Habesha with the rest of the stake shared by a host of other financiers.

Located in Holeta, about 40km outside, Ethiopian capital Addis Ababa, the production plant was officially launched by Prime Minister Hailemariam Dessalegn on 19th April 2017. Divisional Executive for High Impact & Regions at the IDC, William Smith and Thokoane Tsolo-who heads the corporation’s Africa unit attended the launch of the cement plant.

Ranked as one of the fastest growing economies on the continent, Ethiopia has experienced double-digit economic growth, averaging 10.8% since 2005-a factor that fits in line with IDC’s focus to contribute towards infrastructure development in the rest of Africa. 

The plant, which is expected to produce about 1.4 Metric tons of cement per annum will significantly contribute towards accelerating Ethiopia’s infrastructure development goals. 

IDCfundedCementPlant

Habesha cement plant is located in Holeta, 40km outside Addis Ababa


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