54 Capital FMCG Group of companies, manufacturer of Tena Edible Oils, 555 and Aura Soap & Detergents, and Chef Luca wheat products change its corporate brand to SAMANU.
“SAMANU’s logo inspiration is taken from the source of life of the Abay River and mirrors our corporate root in Ethiopia and strong commitment to growth,” said Joachim Yebouet, Chief Executive Officer of the company, adding, “Our vision is to step towards our vision of improving the livelihoods of Ethiopians by leveraging and developing Ethiopian resources.”
54 FMCG, business group in Ethiopia began operation in 2013 through an investment in a small refinery and quickly expanded into other FMCG products.
“We now have some of the most iconic local FMCG brands, making us the fastest growing conglomerate in Ethiopia. Today 54 FMCG is home to several notable FMCG brands such as Tena Edible Oil, 555 Household Care, Chef Luca Pasta and Aqua safe Natural Mineral Water,” the CEO highlighted indicating that Samanu plans on taking ambitious steps to further expand its portfolio through investments in direct manufacturing and the vertical integration of its businesses.
Recently the company announced a USD 21 million growth capital investment in Ethiopia from Norfund, a Norwegian investment fund focused on building sustainable businesses and industries in developing countries, to increase local production of edible oil and expanding into agro-processing that will create jobs, increase food security, and provide income for up to 200,000 smallholder farmers.
