Pharo Ventures Ethiopia
Pharo Ventures Ethiopia is based in Addis Ababa.
Ethiopia has several unique characteristics to support Pharo Ventures goals. The country has the advantage of a large youth population which can serve the demand of labour intensive sectors such as agriculture, manufacturing and processing. Pharo Ventures will therefore target these sectors, especially agriculture, energy and manufacturing, among others. Another characteristic of the Ethiopian economy is the scarcity of capital. Pharo Ventures will readily invest in capital intensive sectors including agro-processing, commercial farming, equipment leasing, manufacturing and power generation. Furthermore, sectors that generate a significant value add for the country such as commercial farming and agro-processing for the local and export market will be considered as high priority areas.
Pharo Ventures will look to diversify its portfolio of investments across different sectors and geographies to minimise concentration risk. We expect however that we will create significant competencies in certain sectors and enterprises (e.g. commercial farms, agro-processing) and replicate those across a number of countries. Pharo Ventures will select investment opportunities that demonstrate profitability and sustainability, as well as potential to create significant jobs to the local community.
Pharo Agro – processing of speciality edible oils
Pharo Ventures Ethiopia is in the process of setting up our first venture in edible oil processing located around Debre Birhan. Our buyers in international markets are looking to source quality, speciality oils of various seeds. Pharo Ventures will build and operate a state-of-the-art edible oil plant to process four different conventional oil seeds (Sesame, Black Cumin, Flax and Niger seeds) into edible oils and animal feed cakes. Pharo Ventures Ethiopia expects to complete the facility by end of 2023 and commence operations in 2024, employing up to 150 people (directly and indirectly).
Commercial farm for oil seeds
Sourcing quality input for our processing plant is critical for the success of our business. Pharo Ventures Ethiopia is looking to set up an irrigated commercial farm to produce high quality oil seeds and few other crops. The company has targeted the Amhara region for setting up the processing plant and the commercial farm. Pharo Ventures Ethiopia anticipates that the farm will create direct job opportunities for at least 100 people. Additionally, the company is also setting up partnerships to work with the local farmers, unions and co-operatives via an out grower scheme. These include sourcing products from these partners and in return providing technical assistance to enable them to increase their productivity and income levels.