In a statement, IFC said that the funding will support Afriflora’s plan to expand production by 60 percent, install water recycling systems and increase employment by more than 50 percent.

German Vegarra, IFC Head of Manufacturing, Agribusiness, and Services in Africa said the support will help Ethiopia’s horticulture sector by improving export capacity and increase employment opportunity. “The horticulture industry holds great potential for creating jobs, generating economic growth, and reducing poverty. Ethiopia’s climate, land and water resources can make it a strong competitor in the European market for cut flowers, and this investment will help develop the logistics, cold storage and transport required to fulfill this potential. With IFC”s support, Afriflora will strengthen its labor conditions, ensuring a safe, healthy and productive environment for its workforce in Ethiopia.”

Founded in 2004, Afriflora Group is a manufacturer and marketer of cut-rose products with a large scale production farm based in Ethiopia. The company’s main growing facility is located in Ziway, Ethiopia and is one of the largest single rose growing facilities in the world.

Source: Ethiopian News Agency