Top Transportation Companies in Ethiopia
Top Transportation Companies in Ethiopia
Top Agriculture Companies in Ethiopia
Top Agriculture Companies in Ethiopia
Following the attempt to expand the commercial farming in Ethiopia, a huge plot of land is being leased by the government to the different investors—both foreign and local. We have compiled a list of the top companies in the agriculture sector, i.e. the top large-scale agriculture companies involved in the commercial farming in Ethiopia, according to the latest statistics available. Among the top agriculture companies are Ethio Agri-CEFT and Horizon Plantations, both of which belong under MIDROC Group, the leading investor in Ethiopia.
Ethio Agri-CEFT
Ethio Agri-CEFT is one of the top companies involved in the agriculture sector of Ethiopia. The company is an affiliate of MIDROC Group and has been raking among the largest coffee and tea farms in the country for the last 15 years. It is highly involved in tea production and tea exports. It also produces washed and sun-dried coffee, black tea, green tea, food crops, medicinal as well as bio-pesticides, herbal and aromatic plants, spices, honey and cut flowers.
Horizon Plantations (Horizon Company)
Horizon Plantations is a specialized arm of the MIDROC conglomerate established in December 2009 by Sheikh Mohammed Hussein Ali Al-Amoudi, Chairman of MIDROC Ethiopia Investment Group, and Mr. Jemal Ahmed, Chief Executive Officer of Horizon Plantations. Its main purpose is to develop large scale perennial plantations starting up with an initial paid up capital of 190 million Birr. Horizon’s vision is to become a leading agricultural producer, processor and exporter in Ethiopia.
Karuturi Global Ltd
Karuturi Global Ltd is an Indian agro-company, which is among the world’s biggest producer of cut roses. Karuturi Global Ltd has entered Ethiopian market about a decade ago and it is another of the top companies in the large-scale farming sub-sector. The company has acquired 300,000 hectares of fertile farmland in Ethiopia through a very cheap land lease for 99 years.
Top Telecom Companies in Ethiopia
Top Telecom Companies in Ethiopia
Ethio Telecom, the former Ethiopian Telecommunications Corporation (ETC), has been undertaking several huge network expansion projects during the last few years with a view to enhancing the development of the telecom sector and to support the steady growth of the country.
Top Industry Companies in Ethiopia
Top Industrial and Manufacturing Companies in Ethiopia
Ethiopian government is currently greatly encouraging the involvement of the private sector in manufacturing—all in order to transform the economy into an industry-led one. What are the top industrial and top manufactring companies in Ethiopia which lead the industrial production in the country? Below is a list of the top industry and manufacturing companies in Ethiopia that includes, among others, MIDROC’s Equatorial Business Group, Derba MIDROC Cement, Horizon Addis Tyre and the next leading furniture manufacturer in the country—Technostyle.
Equatorial Business Group
Equatorial Business Group (EBG) was established in 1993 under the trade name Equatorial Electronics and Communication in Addis Ababa, in accordance with the commercial laws of Ethiopia. At the time of its establishment, EEC was engaged in the import and distribution of electronics, household and office goods and services. The company was owned by three investors, all of whom are brothers of Sheikh Mohammed Hussein Ali Al-Amoudi, the chairman of MIDROC Group—the largest investor in Ethiopia.
As the investment environment of the country favored new developments in the private sector, the owners of the company injected more capital and went into more strategic business ventures with a view of contributing to the national economy and to generating more employment opportunities to fellow citizens. The investors also saw the importance of technology, knowledge and skills most vital to the country through the import of the products and services to the local market as they entailed high-tech soft and hardware features. Thus, EEC as it was then called, became Equatorial Business Group.
EBG’s business lines are all targeted to major development sectors like construction, mining, water resources, agriculture, road and air transport, energy, health and ICT infrastructures.
Ethiopian Electric Power Corporation (EEPCO)
As of the beginning of 2014, the Ethiopian Electric Power Corporation (EEPCO), which has been a sole institution that monitors the country’s power grid, is split into two different institutions, i.e. Ethiopian Electric Power and Ethiopian Electric Services. The Ethiopian Electric Power is in charge of undertaking the country’s power projects including the mega hydroelectric dams, and will be administered by the EEPCO management. The Ethiopian Electric Services is tasked with operating, distributing and selling electricity, and has been outsourced to an Indian company with a 2-year management contract worth of 21 million USD.
Derba MIDROC Cement
Taking over 52% of the cement production market in Ethiopia, the MIDROC affiliate Derba is the number one producer of cement in the country. Derba MIDROC Cement was established following the shortage in the supply of cement and it currently has a capacity of producing 8,000 tons of cement per day. Derba MIDROC Cement is also involved in the construction of the Ethiopian Grand Renaissance Dam.
Horizon Addis Tyre Company
The three decade-old tyre factory in Addis Ababa has changed owners and names a number of times prior to its acquisition by MIDROC’s Horizon. Established in 1972 as Addis Tyre, the factory was completely state-owned until the first joint venture (JV) arrangement the government had ever entered into, in 2004, selling away 61pc to Matador, a Slovakian company, for 13.9 million USD in 2004.
Renamed Matador Addis Tyre, the company introduced radial tyres and new molds before selling 51pc of its shares in 2008 to Continental Germany, a tyre manufacturer based in Hanover. Later, Horizon Plantation acquired all 61pc shares from the two companies for 17.9 million dollars.
The company announced on Tuesday, May 29, 2012, an earlier ETB 30 million investment, which Jemal Ahmed, general manager of Horizon Plantations, called the first phase. This phase included the modification of light truck diagonal tyres, introduction of new patterns for the factory’s products, and introduction of new sizes for light truck radial tyres to be used by vehicles like Land Cruisers and minibuses.
Technostyle
Technostyle is the leading importer and supplier of world class furniture in Ethiopia. Technostyle now aspires to use 60% of the materials from the local market so as to substitute import and start producing furniture locally in Ethiopia.
Pittards Ethiopia Tannery
Pittards Ethiopia Tannery is a UK-based leather and leather products manufacturing company and is the leader in its segment. Pittards joined the leather sector in Ethiopia in 2005 and thus began managing the Ethiopian Tannery Share Company. The company has today three factories, produces close to 1,000 units a day and increased its profit by up to 20%. It has recently joined sheep farming.
Heineken
Purchasing the auctioned state-owned breweries such as Bedele and Harar beers by the Privatization and Public Enterprises Supervising Agency, Heineken is now a dominant company in Ethiopia’s brewery industry.
MOAB Plc.
MOAB Plc. is a local manufacturing company. It is highly engaged in food complex whose large majority raw materials are from the local market. Owning its own marble quarry, MOAB Plc. is also engaged in the marble industry of Ethiopia.
Pasqua Giuseppe Plc.
Established in 1965, Pasqua Giuseppe Plc. is a local company that manufactures aluminum and metal (steel) components for both small-scale and large-scale local and international companies in the country.
Metals and Engineering Corporation
Metals and Engineering Corporation is a state-owned firm that is administered by the defense. It is highly involved in design, manufacturing assembly and maintenance of city buses as well as upgrading combat aircrafts and helicopters, trucks and other vehicles, and weapons. Metals and Engineering Corporation is also engaged in the manufacturing of electric transmission and telecommunication towers. The Corporation is among the major companies involved in the construction of the Ethiopian Grand Renaissance Dam.
Ethio-Leather Industry Plc (ELICO)
Top Banks in Ethiopia
Top Banks in Ethiopia
Marcopolis.net presents the list of top banks in Ethiopia.
Top 10 Largest Banks in the UAE
Top 10 Largest Banks in the UAE
Marcopolis.net presents top banks in UAE list that groups top 10 Banks in the country by assets. Based on our findings the higest ranked bank in the UAE is Emirates NBD closely followed by the National Bank of Abu Dhabi and Abu Dhabi Commercial Bank. View the top 10 largest banks in the UAE list.
There are 23 domestic banks in the UAE and 28 foreign banks. In addition to these banks, there also Islamic banks which are significantly growing as the number of Islamic banks is now 8. There is only one central bank however for all the 7 emirates. It implements the banking, credit and monetary policies with the UAE’s currency being the Arab Emirate Dirham (3.673AED=$1).The banks in Dubai and Abu Dhabi hold the majority of the total domestic assets.
The UAE banking sector is the largest in the world and its assets represent 1.3 times that of the UAE’s GDP. In addition to this, the banking sector has lend its fastest growth rate this year with deposits having increased by 7.4% in 2013. The average loan/deposit ratio for some major banks is above 100%.
According to Al Suwaidi, the UAE Central bank’s governor, stated the volume of banking assets in the country reached $476 billion, deposits reached $316 billion and the volume of lending hit $296 billion.
As for the number of employees in the banking sector, it has been decreasing recently: it has actually declined from 39,589 employees in December 2008 to 36,527 as of June 2010.
Taken from the Gulf Business Top 50 Banks, these are the biggest banks in the UAE by 2012 total assets:
Top 10 Largest Banks in the UAE
#1 Emirates NBD 2012 assets: $83,935,8432011 assets: $77,498,539Growth: 8.31%
Emirates NBD, the leading banking group in the region was formed on 16th of October 2007 when the shares of Emirates NBD were officially listed on the Dubai Financial Market (DFM). The Emirates NBD 2007 merger between Emirates Bank International (EBI) and the National Bank of Dubai (NBD), became a regional consolidation blueprint for the banking and finance sector as it combined the second and fourth largest banks in the United Arab Emirates (UAE) to form a banking champion with the largest asset base in the GCC region summing up to AED 281.6 billion as at 31st December 2009. With a fast growing Islamic banking affiliated entities, strong investment and private banking services and a leadership in the field of asset management products and Brokerage services, Emirates NBD is well positioned to grow and deliver outstanding value to its shareholders, customers, and employees. Emirates NBD bank is 95.03% owned by national investors, 2.78% from Arab investors and 2.02% by foreigners.
#2 National Bank of Abu Dhabi (NBAD) 2012 assets: $81,840,231 2011 assets: $69,616,747 Growth:17.56%
The National Bank of Abu Dhabi (NBAD) has one of the largest networks in the UAE with an expanding network of 125 branches and cash offices and more than 585 ATMs across the country. NBAD’s growing international network consists of about 60 branches and offices in 17 countries stretching across five continents from the Far East to the Americas, giving it the largest global network among all UAE banks. The bank’s majority (70.5%) is owned by Abu Dhabi government.
#3 Abu Dhabi Commercial Bank (ADCB) 2012 assets: $49,222,903 2011 assets: $47,638,886 Growth: 3.33%
Abu Dhabi Investment Council has 58.08% of the ADCB’s shares. In fact, the Abu Dhabi Investment Council is an investment arm of the Government of Abu Dhabi. The Council started its operations in April 2007 and is responsible for investing part of the government’s surplus financial resources through a globally diversified investment strategy, targeting positive capital returns through an expansive portfolio of highly diversified asset classes and active investment management strategies. The Abu Dhabi Government owns 3.51% of the bank’s shares, and Foreign investors 3.54%. As for the remaining 34.87%, they are owned by other national investors.
#4 First Gulf Bank 2012 assets: $47,654,2342011 assets: $42,880,963Growth: 11.13%
Established in 1979, First Gulf Bank (FGB) had Shareholder Equity of AED 28 billion as of December 31st, 2012 making it one of the largest equity based banks in the UAE. Today, FGB is recognised as a world-class organisation committed to maximising value for shareholders, customers and employees as it focuses on delivering banking products and services that meet client needs and support the UAE’s dynamic economy. First Gulf Bank was named the “Best Local Bank in the UAE” for 2011 and 2012 by EMEA Finance. The Abu Dhabi Ruling Family owns 67% of the First Gulf Bank, and the remaining 33% are public shareholdings.
#5 Dubai Islamic Bank 2012 assets: $25,963,7082011 assets: $24,663,344Growth: 5.27%
In June 2012, Dubai Islamic Bank has been named as the Best Islamic Bank in the region by Banker Middle East MagazineInspite of experiencing exceptional growth since its establishment in 1975, the Bank today remains true to its roots as a customer-centered organisation, where close personal service and honesty form the basis of all relationships. 28.63% of the Dubai Islamic Bank is owned by the Investment Corporation of Dubai. In fact, the latter isis a sovereign wealth fund owned by the government of Dubai, United Arab Emirates. Saeed Ahmed Lootah owns 6.91% of the bank while 3.38% are general pensions for Social Security Authority.
#6 Union National Bank 2012 assets: $23,723,9182011 assets: $22,271,946Growth: 6.52%
Established as a Public Joint Stock Company in 1982, UNB is the only bank that is jointly owned by the Governments of Abu Dhabi and Dubai. The Chairman, H. H. Sheikh Nahayan Mabarak Al Nahayan, Minister of Culture, Youth & Community Development, is well supported by the Board of Directors that consists of eminent business personalities and our Senior Management team which is made up of experienced professionals. Union Brokerage Company (UBC), one of the oldest brokerage firms in UAE is a subsidiary of UNB. Besides being a leading player in the Brokerage industry, it was among the first national companies to deal in the brokerage field in the country. The Al Wifaq Finance Company, a subsidiary of UNB, has been established with the purpose of offering Sharia compliant financial, commercial and investing services to both organizations and individuals in compliance with the rules and principals of the Islamic Law.
#7 Abu Dhabi Islamic Bank (ADIB) 2012 assets: $23,322,7762011 assets: $20,238,243Growth: 15.24%
In 2010, ADIB had introduced its new brand identity as a symbol of a new promise. ADIB has worked hard to implement these simple but powerful promises in the way we do business. The bank has introduced a number of new offerings and improvements already. ADIB has 70 branches and 460 ATMs. ADIB is publicly owned.
#8 Mashreq 2012 assets: $20,795,8892011 assets: $21,574,005Growth: -3.61%
Mashreq has provided banking and financial services to millions of customers and businesses since 1967. Mashreq is invariably among the highest performing banks in the Region. It’s financial performance reflects on its commitment to continue leading the UAE banking industry. A rising market share, solid equity base, growing asset base and return on assets has meant that Mashreq has a strong financial position in the market. In recent years Mashreq’s financial performance has grown from strength to strength, registering new highs, as our operations have expanded. Saif A. Ghurair owns 39.47% of the bank, while Abdullah A. Al Ghurair Investment Co. owns 31.10%. Masar Investment Co. owns 9.66%.
#9 National Bank of Ras Al-Khaimah (RAKBANK) 2012 assets: $7,419,0412011 assets: $6,670,987Growth: 11.21%
RAKBANK, the trading name of the National Bank of Ras Al-Khaimah, is a public joint stock company, headquartered in the emirate of Ras Al-Khaimah, in the UAE. The Head Office of the bank is situated in RAKBANK Building, Emirates Rd, Ras Al-Khaimah. The bank is 52.75% owned by the Government of Ras Al-Khaimah. Shares are publicly traded. Board consists of several members of the ruling family of the emirate of Ras-Al Khaimah and businessmen from UAE and Kuwait. The bank is engaged in providing retail and corporate banking services through a network of thirty three branches in the United Arab Emirates, but all the transactions are handled on a strictly commercial basis. Rakbank is 52.75% owned by the government.
Top Ten Largest Companies in Libya
Top Ten Largest Companies in Libya | Leading Companies in Libya
Marcopolis.net presents a list of ten leading companies in Libya.
Largest Bank in Libya – Jumhouria Bank
Jumhouria Bank is the largest and the leading bank in Libya. Jumhouria bank is the result of the merger between both Umma & Jumhouria bank.
Best Hotels in Libya | Libya’s Finest Hotels
Best Hotels in Libya
Marcopolis.net presents the best hotels in Libya.
Investment Companies in Libya | Largest Investment Companies of Libya
Investment Companies in Libya | Largest Investment Companies in Libya
Marcopolis.net presents top oil companies in Libya.
Libya holds billions of dollars in assets in Africa through subsidiaries of its US $70 billion sovereign wealth fund. Most of the assets were frozen as a result of the 2011 uprising. Libya is one of the largest investors in Africa.
Some assets continue to be frozen.