Geepas and Belayab Group Signs JV for Manufacturing and Assembly of Consumer Electronics
Addis Ababa: Geepas, one of the leading Consumer Electronics Brands in Middle East, Europe and Africa, has signed a Joint Venture with Belayab Group, a multi-vertical conglomerate based in Addis Ababa, for the manufacturing and assembly of Geepas Products from Ethiopia. Production from the newly set up Manufacturing Unit in Adama will start in the month of May, as per the statement from the company officials.
Geepas, with its expertise in the consumer industry for the last 30 years, have grown to become one of the most reputed brand in the region with more than 1500 products spread across Home & Kitchen Appliances, Entertainment Products, Personal Care, Lighting, Power Tools and Bath Fittings.
“Geepas has been a household name in the Ethiopian Market for more than 15 years. Our investment in Ethiopia, which is our first in Africa, has been inspired by the Government’s open door policy for Foreign Direct Investment. Belayab Group’s local expertise in manufacturing will be an important factor for us in growing the brand in the region with the Quality Standards we have been known across the region”, said Mr Nizar TN, Managing Director, Geepas.
“In line with Mr Abiy Ahmed lead Government’s long term strategy to transform Ethiopia into Regional Light Manufacturing Hub, Belayab Group has been actively looking at bringing reputed International Brands to Ethiopia. With an exciting range of products that would satisfy every consumer’s needs along with strong brand reputation in the market, our partnership with Geepas fits very well into our strategy to bring in Technological Knowledge into Ethiopia without losing focus on ever growing Consumer Demands”, said Mr Aschalew Belay Habtegiorgis, Founder Chairman of Belayab Group.