Ethiopian Minister of Trade Melaku Alebel announced the government’s decision to make $44 million available as loans for PhiBela and Shemu edible oil factories.
The announcement came as a government delegation led by the Minister visited the Shemu edible oil, liquid and bar soaps manufacturing company in Dire Dawa, Ethiopia’s eastern town.
Last month, Prime Minister Abiy Ahmed inaugurated PhiBela cooking oil factory, the country’s biggest edible oil factory in the Amhara Region, with a total investment of 4.5 billion Birr.
PhiBela has the potential to produce 1.5 million liters of edible oil per day to meet 60 percent of the demand for cooking oil in the country. Shemu Plc has a capacity of manufacturing 950 liters of cooking oil per day.
The minister said the government will make $44 million as a loan to help the two giant edible oil factories rectify shortage of working capitals.
