Fourth Malting Firm to Commence Operations in March

December 5 , 2020


Fourth Malting Firm to Commence Operations in March

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

Ministry Revokes Hundreds of Mining Concessions

The Ministry of Mines has revoked the licenses of 972 for alleged non-compliance with the terms of their exploration and production permits, and involvement in illicit trade.  Among those on the receiving end of the measure is Kefi Gold, a firm that has been conducting gold exploration in the Western Wellega Zone of the Oromia Regional State for over a decade. The 2,000hct exploration area is estimated to hold deposits of close to 50,000Kg of gold. Last week, the National Bank of Ethiopia ap...


Radar

World Bank, Fed Agree on $715m in Funds to Fight Food Insecurity

The World Bank Group and the Ministry of Finance have signed an agreement for 715 million dollars to go towards fighting food insecurity. Most of the financing (600 million dollars) is earmarked for the implementation of a Food Systems Resilience Programme. A third of the amount is in the form of grants, while the balance is credit. An additional 115 million dollars is pledged for improving access to financial services and bolstering economic activity in pastoralist areas. The areas target...


Radar

DISRUPTION HOPEFULS

Youths checkout a booth at the AddisRupt Expo 2022, which was hosted at Safari Hotel on June 25, 2022. The expo focused on technological and entrepreneurial work, showcasing over 20 startups to visitors. The promoters of the expo aimed at connecting startups with investors and was organized by firms such as LinkUp Addis, Profit Marketing and Afromile Trading...