In a groundbreaking move to elevate Ethiopia’s agricultural exports, the Industrial Parks Development Corporation (IPDC) and Africa Farming Industries (AFI) have signed a Memorandum of Understanding (MoU) that paves the way for large-scale production and export of strawberries and saffron—two of the world’s most lucrative agricultural commodities.

The USD2 million investment, to be established in Bole Lemi Special Economic Zone (SEZ), marks a strategic shift in Ethiopia’s ambition to become a global leader in high-value horticulture. By introducing AI-driven precision farming, climate-controlled hydroponics, and sustainable agricultural practices, AFI is set to revolutionize the sector and position Ethiopia as a premier supplier to international markets.

“Our investment is more than just farming—it’s about positioning Ethiopia on the global map as a producer of premium strawberries and saffron,” said Nassour Mahamat, CEO & Chairman of AFI. “We are bringing cutting-edge technology, sustainable practices, and an export-driven strategy that will benefit both local communities and international consumers.”

Dr. Feseha Yitagesu, CEO of IPDC, emphasized the innovative nature of the partnership, noting that this is the first time the corporation is facilitating such an investment. He underscored that the initiative aligns with Ethiopia’s vision of modernizing its agricultural sector, enhancing exports, and attracting foreign direct investment. “We are fully committed to supporting this project to ensure its success and long-term impact,” he assured.

As a subsidiary of Pluton Invest, AFI has gained prominence since its establishment in Chad in 2020. The company’s AI-powered vertical farming model will enable year-round production, high yields, and strict quality control, ensuring Ethiopia meets the stringent standards of international buyers.