Former army chief of staff, chamber president at helm

By Dawit Taye

Raya Beer Share Company, company founded, among others, by Eyesuswork Zafu, president of the Ethiopian Chamber of Commerce and Sectoral Associations, and Lieutenant General Tsadkan Gebre-Tensa'e, former chief of staff of the Ethiopian defense forces, is to start selling shares, it was learnt.

Founded by fifty-five individuals, including the two public figures, the company has a registered start-up capital of 2.4 million birr. According to Eyesuswork Zafu, vice chair of the company's board of directors, shares valued at 250 million birr would be put up for sale staring a week from today.

Eyesuswork revealed that the brewery will be built at a site in Maichew, Tigray Regional State, adding the official ceremony to commence sale of the shares will be held at the plant site where the president of the region, Tsegaye Berihe, and other guest will be in attendance.

Construction of the plant, which the company says will sit on 150,000 sqm of land, is expected to be completed within eighteen moths. Upon becoming operational it is estimated to produce between 350,000 to 500,000 hectoliter of beer annually. The vice chair also disclosed that the plant site was allotted to the company lease free. He added that the existence of ample water source and sorghum, important ingredients for a brewery, would make it ideal for the venture.

Studies show that though the five breweries operating in the country have a total production capacity of 2.9 hectoliters, there still is a wide gap between the demand and supply for beer, thereby making breweries an attractive investment.

Source: Reporter