.Revokes license of 102 investors
.Creates over 78, 000 job opportunities
ASOSA – Benishangul Gumuz State Land Administration and Investment Bureau said that it had attracted over 7.8 billion Birr capital investment and created some 78,000 job opportunities during the last ten years. Deputy Bureau Head Netsanet Zeleke said since 2009, the bureau has attracted 601 investors with 7.8 bln Birr capital in agriculture sector.
The State provided over 350, 000 hectares of land for those investors who are interested in agribusiness. Some 127 investors took 1.9 bln Birr loan from Commercial and Development Bank of Ethiopia over last ten years, he added. According to him, some 78,000 permanent and temporary job opportunities were created in this sector.
There are various investment challenges and investment frauds in the state regarding bank loans. For instance, some investors have no interest and ability to involve in any investment activities even if they have sufficient capital, but having taken land and bank loan, they have not engaged in business thus, he said, the license of 102 investors were revoked and 56,000 hectares land returned to land bank, he said.
The Ethiopian Herald October 1, 2019
BY TSEGAYE TILAHUN
