UK-based asset management firm Announces to Invest US $150 Million into Dashen Brewery
At the inaugural of the country’s largest brewery plant in Debre Birhan city, 100km north east of Addis Ababa, Vasari announced its new investment of $150 million in Dashen Brewery. “We have brought the most advanced brewery in Africa – and one of the most advanced in the world – to Ethiopia. This is a clear sign of our confidence in Ethiopia and it complements our growing portfolio in the country,” said, Vivian Imerman, CEO of Vasari Global.
The new plant is expected to hire 500 permanent and 1,000 temporary workers. The new brewery followed the $156 million Walia Brewery’s plant with 1.5 million hectoliters of beer production capacity in inaugurated a year ago by the Dutch’s multinational, Heineken.
Beer industry in Ethiopia have been growing in recent years including a surge in demand associated with increased urbanization, population growth, and rising incomes. From a level of just one million hectoliters in 2003/04, total beer production of the country has increased to nearly 3.1 million hectoliters by 2008/09.Dashen’s new brewery plant will now boost the total annual production capacity of the breweries in Ethiopia to around 10.5 million hectoliters. In addition, the country has also been importing beer from different countries.
One of the major milestone for the growth of the industry came in the past few years when the government transferred all state-owned breweries to private companies only keeping 49% share of Dashen Brewery, which still belongs to Tiret Endowment Fund that is owned by Amhara National Democratic Movement (ANDM) – one of the four member parties of the ruling party coalition (Ethiopian Peoples’ Revolutionary Democratic Front). Read more from newbusinessethiopia