IFC Loans 50m to Habesha Brewery

Dec 28 , 2019


[ssba-buttons]

Habesha Brewery S.C. signed a 50-million-euro agreement with the International Finance Corporation (IFC) to ramp up barley sourcing from local smallholder farmers. The loan was co-funded by Dutch Development Bank, Rabobank and ING Bank. Alongside the monetary financing, the financiers will help the farmers access improved seed variants, agricultural inputs, capacity building in the best practices of agronomy and business management. The brewing sector imports as much as 90pc of its malt barley, because local production cannot satisfy the demand of the industry. The project is expected to double the current yield production and augment income for 15,000 existing farmers and create 500 jobs. “We aim to increase the number of farmers from 1,000 to 14,000 in the course of five years and uplift their income," Zewdu Negate, CEO of Habesha Breweries, said.


Radar

Coffee Hub Illu Ababor Targets Bigger Share in Global Market

Illu Ababor Zone supplied more than 51,000 tons of coffee to the central market in the 2024/25 fiscal year, Deputy Administrator Mohammed Teha reported. The effort is part of the "Neqemte Initiative," designed to promote production, productivity, and quality in top foreign exchange earner. The zone spans over 700,000 hectares, including 300,000 hectares of newly planted and rehabilitated coffee and 400,000 hectares of wild varieties, cementing its role as a major coffee hub. Officials highlig...


Radar

From Loan to Tap, Ministry Secures Water Infrastructure Funds

The Ministry of Water & Energy has signed a cooperation framework with China Exim Bank, facilitated by contractor CGCOC, securing a 100 million dollars loan. State Minister for Drinking Water & Sanitation Ambassador Asfaw Dingamo (PhD) said the funding will finance water supply and sanitation infrastructure in five cities: Holeta in Oromia, Areka in the South, Inseno and Tora in Central Ethiopia, and Mizan Aman in the South...


Radar

Bureau Rolls Out QR-Enabled IDs for Inspectors

The Addis Abeba Revenues Bureau has equipped inspectors with QR (quick response) code-integrated ID cards to curb fraud and improve transparency. Launched in Mercato, the system lets merchants verify inspectors' identities via smartphone, deterring impersonation and extortion. Bureau head Biniyam Mikiru said the move strengthens technology-backed oversight and shields compliant taxpayers. Inspectors will also wear new uniforms to distinguish them from impostors. Merchants praised the reform, say...