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Soufflet Receives €20m in Investment

November 2 , 2019

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.  


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