Fourth Malt Factory Takes Root

Mar 16 , 2019


[ssba-buttons]

The Soufflet Group, a French family-owned business that collects and adds value to agricultural raw materials, is going to build its fourth malt factory for 70 million euros. The plant, to be built in Bole Lemi Industrial Park, will rest on 10ha and will be operational in 2020, having a production capacity of 60,000tn of malt a year. It also plans to push the production capacity to 110,000tn. The plant, whose cornerstone was laid last week, is also expected to offer jobs to 300 people. Currently, the country imports 70pc of its malt to satisfy demand, while Gonder and Assela malt factories cover the balance.


Radar

Bank of Abyssinia Signs Partnership with Droga Cooperative

Bank of Abyssinia has entered into a partnership agreement with Droga Health & Financial Savings and Credit Cooperative to provide financial support and services for its members. The agreement was signed yesterday at the Bank's headquarters. The deal aims to strengthen collaboration between the two institutions, enabling cooperative members to access tailored banking services. It was signed by Wosenyeleh Abera, Deputy CEO for Customer Relations and Marketing at the bank, and Zelalem Yilma...


Radar

Wegagen Introduces Real Time SWIFT Tracking

Wegagen Bank has launched a new mobile app feature enabling customers to track international SWIFT payments in real time. The bank is the first in Ethiopia to introduce an online SWIFT payment tracking system. By integrating SWIFT Global Payment Innovation, customers, particularly those involved in import-export trade, can monitor cross-border transactions using a Unique End-to-End Transaction Reference (UETR) directly from their smartphones. To use the service, customers select the SWIFT...


Radar

National ID, Zambia Partners to Expands Program Reach

The National ID Program has signed an agreement with Zambia's counterpart to provide consulting services for the development of software that will issue digital IDs. It is the first time the institution has extended its expertise beyond national borders, a sign of growing recognition for its rapid progress. Program officials described the partnership as a milestone in their effort to position themselves as a regional player in digital transformation. The collaboration is expected to center...