Fourth Malting Firm to Commence Operations in March

Dec 5 , 2020


The fourth malt factory in the country, Soufflet Malt Ethiopia, is set to commence operations this coming March at its plant built inside Bole Lemi Industrial Park for a total investment of 70 million euros. Soufflet Malt Ethiopia, which is a French family-owned business, has a capacity of producing 100,000tn of malt a year from its plant built on 10ha of land in the industrial park. Soulfflet Malt has already created a barley supply chain of 25,000 farmers and plans to increase the number of beneficiaries to 40,000 when its factory goes fully operational. Soufflet signed a land lease agreement with the Industrial Park Development Corporation in 2018, a year after it inked a memorandum of understanding for the investment with the Ethiopian Investment Commission (EIC) and the Agricultural Transformation Agency (ATA). Currently, Ethiopia has two operational malt factories, Gonder and Assela Malt factories. Boortmalt, a subsidiary of France’s largest grain cooperative, Axéréal, has also started the process of joining Debre Berhan Industrial Park in Amhara Regional State.


Radar

Coffee Exports Bring in $1.5B in Third Quarter

Ethiopia has earned 1.5 billion dollars from coffee exports over the nine months of the fiscal year. The country had set a target to earn a little over a billion dollars by exporting 201,959tns of coffee during the same period. According to Adugna Debella (PhD), director general of the Ethiopian Coffee & Tea Authority, the export strategy continues to focus on major international markets, with the top 10 destinations, including Saudi Arabia, Germany, and the United States (SU), accounting...


Radar

Central Bank Holds Fourth Exchange Auction

The National Bank of Ethiopia(NBE) sold one dollar for 131.4961 birr in its recent auction. It was reported that 26 banks participated in this auction, which took place last week on Thursday. In a statement issued by the National Bank  following the auction, it was indicated that 70 million dollars was offered for the event. Subsequently, it was reported that 96 pc of the foreign exchange needs of the participating banks were met. In the previous auction, held 15 days ago, the bank had of...


Radar

City Registers 64,075 Births in Fiscal Year

The city has exceeded its birth registration target for the first nine months of the fiscal year, registering 64,075 children—71.15pc more than the set goal of 58,342. This success, with a registration coverage rate of 109.63pc, is largely attributed to the efficiency of the one-centre birth registration service system, which has been rolled out across health centres and courts. The total number of vital events registered, including births, adoptions, marriages, divorces, and deaths, reache...