Ethiopia: Asella Malt Transferred to Oromia Agricultural Cooperative Federation

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Following the privatization of Asella Malt to Oromia Agricultural Cooperative Federation, the new owners have signed the transfer agreement with the Ministry of Public Enterprises. The agreement was signed on April 5, 2018, between the 2 parties. And following this, the Cooperative has paid the 35 percent downpayment.

The cooperative is said to have offered the highest bid - 1.34 billion Birr – for the factory which was established back in 1984. The factory is said to have a production capacity of 360,000 quintals.

As per the Deputy Corporate Communications Director, Asebe Kebede, Asella Malt will be transferred to the new owners in 10 days time.

Source: Fortune

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