Dashen Brewery Inaugurates 1.7b Br Expansion Projects

May 14 , 2022


[ssba-buttons]

Dashen Brewery S.C. has inaugurated a 1.7 billion Br project to expand its plants in Gonder and Debre Birhan in the Amhara Regional State. The brewer began operations at its plant in Gonder, 750Km north of Addis Abeba, in 2000. The company invested 300 million Br in the plant, which had the capacity to produce 800,000 hectolitres of beer. The expansion project inaugurated last week has pushed it to 1.2 million hectolitres. Its second plant in Debre Birhan went operational in late 2015 with the capacity to brew two million hectolitres annually. Elmi Olindo Contractors Plc, a local company incorporated in 1937, undertook the construction work with two consultancy firms, MH Engineering Consultancy and PTS, hired for supervision. The Debre Birhan plant has seen its facilities upgraded, enabling it to produce 3.2 million hectolitres a year. Dashen Brewery was wholly owned by Tiret Corporate, established as an endowment organisation in 1995 in Bahir Dar with an initial capital reserve of 26.1 million Br, until 2012. That year, Duet, a UK-based investment firm, bought a 51pc stake in the brewery. Duet is a global alternative asset manager founded in 2002 with over 2.4 billion dollars in equity.


Radar

Ethiopia, IFAD Sign 69.2m Dollar Deal to Promote Lowland Resilience

The Ethiopian Government and the International Fund for Agricultural Development (IFAD) have signed a 69.2 million dollar grant agreement to implement Phase II of the Lowland Livelihoods Resilience Project (LLRP II). The grant agreement was signed by Finance Minister Ahmed Shide and IFAD President Alvaro Lario. The project targets climate resilience and improved livelihoods for three million people in pastoral and agro-pastoral communities. Co-financed by the World Bank, LLRP II covers eight reg...


Radar

NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...


Radar

Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...