Nebiyou Assefa, the managing director of one of the truck assembly in Ethiopia, has launched the factory officially. The factory, which is named after Assefa, is meant to export its items to other countries. The total cost for the entire venture has amounted to 250 million birr.
According to Nebiyou Assefa, the factory has a capacity to produce huge volumes of trucks per year. As a result, the company is set to increase job opportunities for youth, a solution that has remained a mirage over the years.
The state minister for industry, Alemu Sime, ensured the government support for local investment. He added that such manufacturing companies have remained pivotal to national economic development. Sime affirmed that the government on its part has remained focused on exploring opportunities meant to benefit youths.
1,000 trucks per year
A similar gigantic venture in Ethiopia was also established in Mekelle town in 2016. The company was however established in collaboration with a German-based company. The company popularly known as Mesfin Industrial Engineering imports its spare parts from Germany. It has a capacity to assemble over 1,000 trucks in a year.
According to Habtom Hadush, the managing director, the company has earned the country huge revenues. The company has also helped in technology transfer to local residents thus creating chances for similar local investments. The company has not also been left behind in job creation among the youths.
In addition to its expanse nature, Mesfin Industrial Engineering has been expanding its production activities over the last one year. The company is also one of its kinds and is rated the biggest in truck assembling. It’s now followed by the Nebiyou Assefa Company which is also in the process of expansion. The activities done by these two companies approve the recent adage of “Africa Rising.”