US-based PepsiCo eyes Ethiopia investment

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PepsiCo Inc., an American multinational food, snack and beverage corporation, has expressed its interest to invest in Ethiopia.

Ambassador of Ethiopia to South Africa, Dr Shiferaw Teklemariam, held discussion with senior management staff of the African branch of the New York headquartered corporation.

PepsiCo considers Ethiopia as a strategic nation for its investment and products, they said, further expressing interest to invest in edible oil as well as food and juice processing plant.

Ambassador Dr Shiferaw for his part said Ethiopia attaches due attention for aggro-processing industry, adding the Government of Ethiopia would give full support for the planned projects of PepsiCo.

The ambassador extended invitation to heads of the companies to visit Ethiopia to assess the conducive investment climate, meet with government officials and the private sector.

Heads of the corporation accepted the invitation and pledged to visit Ethiopia and meet with stakeholders soon.

Source: FBC