Ethiopia’s Messebo et al. team up for USD 70mn investment

Messebo Cement Factory, Kusto Group, a Singaporean holding company, and Fairfax Africa fund have established MKF Building Materials Production with a USD 70mn investment. The JV will manufacture roofing materials for residential buildings, commercial estates and industrial buildings with an annual production capacity of 3.6mn square metres of roofing.

Messebo will be the majority shareholder with a 60% stake while Fairfax and Kusto will split the remaining shares between themselves.