,the largest individual shareholder of Raya Brewery SC, has acquired additional 70 million birr worth of shares. The value of his total share has reached 125 million Ethiopian birr. This purchase makes Dawit the second top shareholder in Raya, after BGI Ethiopia, which has 30 percent share.

The board of directors of Raya, chaired by Lieutenant General Tsadkan Gebretensae, is expected to announce the increase of the company's paid up capital from 300 million birr to 500 million birr at the fifth general assembly and fourth extraordinary meeting of the company.

Raya has prominent Ethiopian shareholders including Yemane Kidane, former senior official at the Ministry of Foreign Affairs, Selome Tadesse, former spokesperson for the Ethiopian Government during the Eritrea war and former general manager of the Ethiopian Radio and Television Enterprise, and Eyesuswork Zafu, former president of the Ethiopian Chamber of Commerce and Sectoral Associations (ECCSA) and former general manager and CEO of United Insurance SC.

Raya Brewery was established in 2010, with initial plans to control 10-15 percent of the Ethiopian beer market share.

Source: The Reporter