During the fourth general assembly, shareholders of Ethiopia-based Habesha Cement agreed to the demand of the Industrial Development Corporation, South African Cement Company and
The three South African companies have been on Habesha Cement's board of since 2013 while the United Bank of Ethiopia has one board seat.
Another four seats are reserved for individual national shareholders and the CEO has one seat by default.
Habesha Cement's Articles of Association have been revised two times in less than four months.
