Worku Aytenew is an Ethiopian millionaire and business mogul who owns many huge companies in different parts of Ethiopia. Worku Aytenew is also a pace-setter in the fight against the Tigrayan People’s Liberation Front (TPLF) supporting the Ethiopian government of Prime Minister Abiy Ahmed. He financially supports and motivates the army. When the Tigrayan rebels advanced, Worku even headed to the war front to motivate soldiers battling the rebels. Owing to this, Worku gained more popularity and fame in his country.
Worku Aytenew Childhood and Early Life
Worku Aytenew was born in Debrework, Gojam Province, Ethiopia. His academic progress was only limited to sixth grade.
Worku is an energetic and hardworking man who has good business insight. He started his business from scratch. It is even told that, when Worku was in prison for 9 years, he used to make money washing the clothes of other prisoners.
His Investments
Worku Aytenew is a successful businessman who has a role in many different sectors. He believes in investing in diversified high-risk high return business opportunities that create more socio-economic benefits to the country and pays off attractive dividends in long term to its shareholders.
Oil Company
He has invested in the palm oil importation business, commercial farming, mining, aviation, and real estate. More importantly, his name is best known for supplying palm oil to the local market at a regulated price point to attain corporate social responsibility to support the lower of the pyramid consumer base.
On the account of this, Worku Aytenew launched an oil factory named W.A. Industrial Audible Oil Complex in 2016. The factory is an oilseed crushing and crude oil refining factory that produces sunflower oil, soybean oil, sesame seed oil, and palm oil. The company managed to import and distribute ETB 5 billion (USD 200 million) worth of palm oil through its trading business.
This motivating Worku, he advanced into an edible oil project under the name of W.A Oil Factory and Distribution PLC. This huge factory was erected in Debremarkos in Amhara Regional State, on a leased land size of 101,103m2. The company has its head office in Addis Ababa, the capital of Ethiopia. While 60 % of the company’s product is for local consumers, the remaining is exported to foreign countries. The company has helped 500 hundred farmers to help themselves by providing raw materials for the company. In addition to oil, the factory also produces soap detergents.
Worku Import, Export & Trading PLC
Furthermore, in 2015, Worku established Worku Import, Export & Trading PLC. The company made imports with an annual transaction close to ETB 1 billion (USD 35 million) over 5 years. It was established in 2015 and was a major player in palm imports and distribution to regulate the local price.
Real Estate Company
In addition, Worku founded a real estate company in 2016. With an investment close to ETB 3.5 billion he has built many residential and commercial buildings in Addis Ababa and Amhara region. The company owns and operates close to 35 commercial buildings and apartment buildings in key real estate locations. Bole, Ledeta, Gerji, and Wollosefer are some of the sites in Addis Ababa. On the other hand, in the Amhara region, the sites are found in Debremarkos and Debrework.
Worku Farms PLC
Beyond this, Worku is engaged in the farm business launching a company named Worku Farms PLC. The company has farmlands in Amhara and Benshangul zone, and the business took and cultivated 2,000 hectares in May 2019. Observing the progress and success, the regional government bestowed another additional 20,000 hectares to the company. From the land, they manage to grow soya beans so that they can be a raw material for the Oil Factory. Besides, we have harvested rice for the local market supply.
Worku Aytenew’s Other Investments
Furthermore, Worku Aytenew, 2019, established a bottling company in Bahirdar with an initial investment capital of 250 million birr. In the same year, Worku joined the aviation industry with an investment capital of USD 40 million. Additionally, Worku, in 2018, established a transport company to transport dry and liquid cargo in-country and the route between the Port of Djibouti and dry ports and stations across Ethiopia.
On top of that, Worku, 2020, launched a mining project. The main business of the company is in the production of construction materials such as Cement production, Granite and Marble production, Coal and gold mining, precious stones, and other related materials.
Worku Aytenew Charity and Social Work
When the corona pandemic hits Ethiopia, Worku Aytenew was the forerunner in supporting his country in the fight against coronavirus. He has contributed around 80 million Ethiopian birr intending to help the Ethiopian government to halt the spread of the deadly virus. Worku gave 5 apartment buildings to accommodate health service providers, returnees, and, patients for quarantine and isolation. The apartments were 1, 3, 5, 6, and 7-story buildings. Moreover, Worku gave two V8 and two Hiruf cars to help the government in the eradication of the Coronavirus. In addition, Worku has built many houses for many of his countrymen. Furthermore, he has contributed money when churches are burned to the ground in Gojam, Amhara region.
“Great Man Ever”
I really appreciate This Bossiness Man