Ethiopia is set to become home to Africa’s largest milk development project, as the UK-based Asset Green Company partners with Ethiopian Investment Holdings and Agricultural Works Corporation in a groundbreaking $600 million investment.

The agreement, signed on Monday, February 17, 2025, in Addis Ababa in the presence of Ethiopia’s Deputy Prime Minister Temesgen Tiruneh and British Deputy Prime Minister Angela Rayner, marks a major step toward transforming the country’s agriculture sector.

The project will be implemented in two phases, with the first focusing on establishing a high-tech dairy farming and processing operation on 15,000 hectares of land. The goal is to create a sustainable supply chain by integrating large-scale feed farming with dairy production. 

The second phase will expand into commercial farming, introducing advanced production of cotton, oilseeds, and rice, as well as modern processing facilities and an integrated support center for small-scale farmers.

According to Ethiopia’s Minister of Agriculture, Girma Amenti, “the project will play a pivotal role in modernizing the agriculture sector while also promoting technology transfer to farmers of the country.” 

Asset Green’s Chief Investment Officer, Albrecht Frischenfchlager, emphasized the transformative potential of the deal, stating that “the deal aims at implementing the largest milk development project in Africa.” 

Beyond economic benefits, the project aligns with Ethiopia’s broader efforts to enhance food security, boost exports, and attract further foreign investment in agriculture.