Prime Invest Signs MOU with Yirgalem Industrial Development Corporation to Launch Bamboo Board Manufacturing Plant

On September 16, 2025, Prime Invest Plc formalized a landmark partnership by signing a Memorandum of Understanding (MOU) with Yirgalem Industrial Development Corporation to collaborate on establishing a new bamboo board manufacturing plant. This strategic cooperation aims to foster economic growth, industrial development, and job creation in the Sidama region.

The MOU was signed by Mr. Eyasu Yishak, General Manager of Prime Invest Plc, and Mr. Hailu Yetera, CEO of Sidama Industrial Parks Development Corporation (Sidama IPDC), in the presence of officials and dignitaries from Yirgalem Industrial Park. This collaboration marks a significant step towards expanding Prime Invest’s manufacturing footprint with a focus on sustainable and high-value bamboo products.

Prime Invest plans to set up a state-of-the-art bamboo board production factory that will transform bamboo culms into durable, high-quality boards. These boards will serve multiple industries including furniture manufacturing, construction, and interior decoration. The factory is projected to produce 82,200 bamboo boards annually, effectively substituting imports and saving Ethiopia approximately $1.2 million each year.

Ethiopia is endowed with the largest bamboo resource in Africa, boasting 1.4 million hectares—which represents 67% of the continent’s bamboo stock and ranks the country 10th globally. However, local industries have historically focused on producing low-value bamboo goods. This new plant is poised to change that by producing high mechanical strength boards with superior flexibility, durability, and sustainable qualities.

The Sidama region was selected as the ideal location due to its abundant high-quality bamboo resources, offering the perfect environment for manufacturing bamboo boards. The project is expected to generate 217 direct jobs at full operation and create an additional 1,277 jobs along the bamboo value chain. It will also empower local communities by connecting 1,364 farmers and 12 grower and trader cooperatives, increasing rural incomes by an estimated 25%.

Through this initiative, Prime Invest reinforces its commitment to sustainable industrial development, rural empowerment, and economic diversification by unlocking the full potential of Ethiopia’s bamboo resources. The new bamboo board manufacturing plant in Yirgalem Industrial Park is poised to be a cornerstone of the region’s green industrial transformation.