FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds




BGI Expands Meta Abo Brewery with 550m Br

Feb 18 , 2023


[ssba-buttons]

Meta Abo Brewery's expansion with over half a billion Birr investment was launched last week by BGI Ethiopia. The investment is expected to reequip, renovate and expand the Brewery, the newly appointed Chief Executive Officer, Herve Milhade, disclosed at a press conference held at the factory’s plant in Sebeta. BGI invested in manufacturing equipment, including a heavy-duty generator with a three-megawatt capacity, with the goal of making Meta's production capacity 30 million litres a month. Established in 1998 as a state-owned Brewery, the company acquired by the French interest in the 2010s received approval to add Meta Abo Beer to its portfolio a month ago. Under Groupé Castel's large-scale brewing and beverage production wing that operates internationally in more than 53 countries, BGI has hired 1500 people in Sebeta.


Radar

Federal Prosecutors Accuse Public Officials, Contractors of Corruption, Alleged Illicit Fund Transfers

Federal prosecutors have filed corruption and money laundering charges against 11 defendants, including Nigstu Bogale, Coordinator of the Development Project for Response to the Impact of Refugees in the Horn of Africa at the Ministry of Agriculture, Biniyam Fantaye and Taye Habte, senior irrigation engineers involved in the Development Response to Displacement Impacts Project (DRDIP-II), as well as private individuals and construction company representatives. The case alleges losses and illicit...


Radar

EIH Transitions to New Headquarters as It Oversees Major State-Owned Enterprises

Ethiopian Investment Holdings (EIH) is relocating its headquarters from its current site on General Wingate Street. The former headquarters was located behind the Ministry of Industry and near Abrehot Library. The new office is expected to be on Mozambique Street, along the route from Mexico Square to Bulgaria Road. The building belongs to one of EIH's subsidiaries, and all departments are set to move there as interior design and finishing works continue. Under the leadership of Brook Taye...


Radar

Import Substitution Push Lifts Domestic Manufacturing, Industrial Recovery

A push for import substitution and industrial expansion has prioritised 96 strategic products for local manufacturing. The “Ethiopia Tamirt” initiative reports 4.85 billion dollars in savings, supported by trade fairs linking local producers to domestic and international markets. On average, 700 new projects enter the market annually, contributing to more than 2,800 investments over four years. At the grassroots level, 18,000 SMEs have been established, while 993 dormant factories have...