Ethiopian Airlines on Wednesday inked Memorandum of Understanding (MoU) with Ovid Real Estate to purchase 5,000 houses for its employees.
The MOU is signed by Ethiopian Airlines Group CEO Mesfin Tasew and Ovid Group Chairman and CEO, Yonas Tadesse. Ethiopian Airlines is the largest aviation group in Africa with a total of 17,000 employees and several sister companies.
“…Absolutely fantastic that such a big transaction is done entirely by two homegrown fully Ethiopian owned companies. This is a best practice template as Ethiopia continues to create and sustainably grow more local companies to become highly competitive national, African and global champions,” twitted Zemedeneh Nigatu, a renowned businessman with 0ver 246,000 followers who witnessed the signing of the deal in Addis Ababa.
Ovid Real Estate is one of the several companies under Ovid Group, which also owns Ovid Construction, Ovid Manufacturing, Ovid Trade House, Ovid Information Technology, Ovid Integrated Health and Ovid venture Capital, according to the information obtained from the Group’s website.