Soufflet Receives €20m in Investment

Nov 2 , 2019


[ssba-buttons]

The International Finance Corporation and the Private Sector Window of the Global Agriculture & Food Security Program has invested 20 million euros in Soufflet Malt Ethiopia, a subsidiary of the French company Groupe Soufflet. The investment was made to help the company build and operate a malting plant in Ethiopia. IFC, a member of the World Bank Group, will also provide advisory services to 40,000 small-holder barley farmers to include them within the malt supply chian. With about 70pc of the malt used by Ethiopian Brewers being imported, Soufflet Ethiopia plans to source 100pc of its barley locally, with 80pc from smallholder farmers. The malting plant, located in Addis Abeba’s Lemi Industrial Park, is expected to produce 110,000tn of malt annually. "This is Groupe Soufflé’s first investment in Sub-Saharan Africa and marks a strategic milestone for the company," Jean Michel Soufflet, chairman of Groupe Soufflet, said. Soufflet is active in 22 countries in Asia, Europe and South America.  


Radar

Milkii App Disburses 25 Million Br in Collateral-Free Loans in Two Months

Oromia Bank's new collateral-free digital lending app, Milkii, has disbursed 25 million Br in loans without requiring collateral. Of this, 16 million Br has already been repaid, generating 1.4 million Br in revenue within just two months. Developed in partnership with Quantum Technology PLC, the app plans to make lending more accessible and inclusive, aligning with Oromia Bank's contribution to the Digital Ethiopia initiative. According to a press release, Milkii promotes financial inclusi...


Radar

Ethiopia Partners with UK to Ease Shipping Bottlenecks

The Ethiopian Freight Forwarders & Shipping Agents Association (EFFSAA) and the British International Freight Association (BIFA) signed a memorandum of understanding (MoU) on May 27, 2025, at Hyatt Regency Addis Abeba, to address skills gaps, customs delays, and corridor inefficiencies in the freight and logistics sector. The partnership focuses on technical cooperation, training, and regulatory reform. With over 90pc of trade dependent on the Djibouti corridor, rising congestion, customs...


Radar

Education Authority Sanctions Mishqen College for Rule Violations

The Education & Training Authority has issued a decisive directive last week, mandating legal action against Mishqen College for persistently defying regulatory orders and unlawfully continuing to offer higher education services. Mishqen College had previously been licensed to conduct undergraduate distance learning programs across multiple regions from 2019 to 2022. However, after serious regulatory breaches, the institution was ordered to cease all instruction, complete pending academic...