Fourth Malting Firm to Commence Operations in March

Dec 5 , 2020


[ssba-buttons]

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

AMG Holdings Breaks Ground on Industrial Rail Link to Ethio-Djibouti Railway

AMG Holdings has launched construction on a 2.5-kilometer railway connecting its Sheger Industrial Park to the Ethio-Djibouti Railway's Endode Station. The Ethiopian-led project comprises 1.7 Kms of main track and 800 meters of side rail. Chief Project Manager Engineer Nigist Hailu said the line is expected to be completed within six months, facilitating the transport of raw materials and finished goods to Djibouti's port. More than 100 local workers have already joined the project, with addi...


Radar

Ethiopian Deposit Insurance Fund Achieves Full Q1 Collection Target

The Ethiopian Deposit Insurance Fund collected 2.08 billion Br in the first quarter of 2025. This meets 100 percent of the target and represents a 26.83 percent increase compared with the same period last year. The rise in premiums was attributed to higher deposits from member financial institutions. To date, the fund has collected a total of 15.93 billion Br in premiums from member institutions, with 14.51 billion Br coming from regular deposits and 1.42 billion Br from interest-free depo...


Radar

Oromia Bank, Ethiopian Airlines Introduce Fly Now, Pay Later via Milkii Digital App

Oromia Bank's Milkii Digital App, launched on May 3, 2025, has introduced a “Fly Now, Pay Later” service that lets customers book Ethiopian Airlines tickets using digital loans, with payments spread over six months after travel with 16.5 interest rate and allows customers to book flights upto 300,000 Br. Developed in collaboration with Ethiopian Airlines, the platform is part of a broader effort to expand digital finance and simplify access to services. The initiative seeks to enhance conven...