Beer manufacturers in Ethiopia are denounced by the Trade Competition & Consumers Protection Authority after over-pricing their products following the Birr devaluation.

According to Mikael Teklu, Director at the Authority, the warning was sent to every brewer in Ethiopia with the exception of Dashen and Raya. The list of brewers that received the warning includes Diageo, Zebidar, Habesha, BGI and Heineken, he explained.

“The increase is unfair. So, the companies have to readjust their prices,” Mikael said. “The effects of the devaluation cannot be felt in such a short period.”

The price of beer in rural areas started to increase after Birr was devaluated 15 percent.

In related development, more than 20 reinforcement bar retail shops in Addis Ababa were shut down by the Authority for the same reason.

Source: Fortune