Access Might Sell off Real Spring Water Investment

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Access Capital is under negotiations to sell its 90 percent share of TMGD Trade Works Private Limited Company, manufacturer of Real Springs bottled water, sources told Capital.

The bottled water is currently distributed by TGMD Trade Works through “Real Springs” distribution network to all major supermarkets, grocery stores, cafes and restaurants in Addis Ababa and surrounding cities.

Its products include vitamin waters, which it claims were the first flavored water with nutritional supplements produced in Ethiopia. The Vitamin Waters are offered in several flavors including lemon, lime and strawberry. It currently produces 30,000 bottles per day employing about 200 people. The bottles come in half, one two and five liters of volume. The factory lying on 10,000 sqm is located in Burayu town some 20Km from Addis Ababa.

Access Capital acquired the manufacturing bottled water under the trade name “Real Springs,” TGMD in 2008 from businessperson Tadele Dalocha for 30 million birr, what is now the fastest-growing beverage category in the industry.

Access Capital is involved in ten different companies. It was established in 2007 with a capital of 9.3 million Birr, and currently has more than1700 employees. Access Capital’s CEO Ermias Amelga declined  to comment on the negotiations over the sale of the bottled water manufacturer.

In addition to the spring water factory it also has Polytech PP Woven Bags Factory, Piko Juice Factory PLC, MA Thermoplastic Industries PLC and plans to venture into Access Capital Automotive Engineering, Access Entertainment SC, Pioneer Agro Industry and Addis Marble Processing. Access Capital has Offices in Addis Ababa, Djibouti, Washington DC and Juba South Sudan.

[Capital]  

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