From Al-Monitor

Saudi agricultural investor has warned about the failure of Saudi agricultural investments in Ethiopia and the liquidation of businesses due to the conditions set by the [Saudi] Agricultural Development Fund (ADF) to support and lend to investors in Ethiopia.

This is not to mention the negative impact of such conditions on the process of correcting the situation of foreign workers in Saudi Arabia, including many Ethiopians. He revealed that some Saudi investors in Ethiopia have begun to sell their investments due to the impossible conditions set by the ADF for loans, in addition to the lack of facilities to export their produce to Saudi Arabia.

The head of the Saudi Agriculture Investors Association in Ethiopia, Mohammed bin Abdul Rahman Al Shahri, told Al-Hayat that Saudi investors in Ethiopia have filed complaints to the Saudi king about the ADF conditions, which are in direct conflict with King Abdullah’s Initiative for Agricultural Investment Abroad.

He also said that there are more than 400 Saudi businessmen in Ethiopia investing in the cultivation of a variety of crops, namely wheat, rice and barley. He added that the association was established to introduce investors … and show them the best places for agriculture, where water is abundant. The association also provides translation services, investment management and communicates with the competent authorities in Ethiopia. When it was first established, the association had 10 members, whose number increased to reach 60 agricultural investors.

Shahri also said that Saudi investors in Ethiopia began work in 2008, following the king’s Initiative for Agricultural Investment Abroad. The size of Saudi investments in the agricultural sector in Ethiopia is currently estimated at 13 billion riyals [$3.47 billion].

Written by Saad al-Asmari | Read more at Al-Monitor