Vasari Global has invested $36 million in the Ethiopian food manufacturer Ahadukes to establish a production facility focused on high-quality biscuits, with plans for future expansion into pasta and other consumer goods.

Information on the Target

Vasari Global, a UK-based investment firm, has committed $36 million to Ahadukes, a food manufacturer in Ethiopia. The primary focus of Ahadukes is to fulfill the local market's demand for high-quality consumer goods, specifically biscuits and pasta. The initial factory, set up through a joint venture with local entrepreneur Solomon Wondimneh, is situated in Bishoftu, Oromia Region, approximately 50 kilometers southeast of Addis Ababa. It operates within a newly constructed facility covering 9,780 square meters.

In the future, Vasari Global plans to increase its investment in Ahadukes to $120 million to expand product offerings beyond biscuits, aiming to include pasta and other fast-moving consumer goods (FMCGs) as demand grows in the region.

Industry Overview in Ethiopia

Ethiopia's FMCG sector is witnessing substantial transformation, propelled by a burgeoning middle class. According to the African Development Bank, over 20% of Ethiopia's 94 million citizens are now classi