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

Construction Sector Faces 'Serious Trouble,' Minister Warns

The construction industry in Ethiopia is in "serious trouble," said Chaltu Sani, Minister of Urban & Infrastructure Development, citing major challenges with finance, competitiveness and material costs. Speaking at the opening of the BIG 5 Construct Ethiopia expo and the inaugural East African Infrastructure & Water Expo at Millennium Hall last week, Chaltu stressed the need for concerted efforts from government, private sector, and international partners to support the 67 billion dol...


Radar

Wegagen Bank, Gift Real Estate Partner to Promote Diaspora Homeownership

Wegagen Bank S.C. and Gift Real Estate Plc. signed a Memorandum of Understanding (MoU) on June 23, to offer housing loans for homebuyers, with a special focus on the Ethiopian diaspora. The agreement enables eligible diaspora members to access loans covering up to 80pc of a home's value at reasonable interest rates. The bank's Deputy CEO Kidane Gebreselassie noted the deal will promote the real estate sector and expand homeownership options. Founder and CEO of Gift Real Estate, Gebreyesus Igata...


Radar

Jimma University Signs Sports Science Agreement to Strengthen National Programmes

Jimma University has signed a four-party Memorandum of Understanding (MoU) with the Ethiopian Academy of Sciences, Derartu Tulu Sports Training & Research Institute, and the Oromia Youth & Sport Bureau to advance Ethiopia's sports science and training capacity. Signed on June 26, the agreement includes joint research, shared facilities, and hosting of national and international competitions. It is expected to strengthen youth development, public health, and national pride through coor...