Case Study

Valuation and Analysis of Food Production and Manufacturing Industry


The World Bank engaged Hickman Shearer and a specialist sugar industry consultant to undertake a detailed review of the Ethiopian Sugar industry.

The work formed a critical part of the proposed privatisation of the country’s sugar production industry.


The extent of the work that Hickman Shearer were involved in, included the preliminary valuation of six state-owned enterprises (SOEs). This was out of the 13 that exist.

The valuation approach was based upon an assessment of the condition of the equipment and kit, as well as assessing the replacement costs for new.


To gain complete insight, Hickman Shearer visited a varied number of sites across Ethiopia to assess the sites and provide accurate valuations.


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