2merkato

The British liquor and brewery company Diageo announced it has agreed to sell its Meta Abo Brewery, in Sebeta, Ethiopia, to BGI, part of Castel Group, the French multinational.

Castel Winery Ethiopia is enlarging its farmland with the value of Euros 100 million to boost production of grapes, Capital reported.

Castel Winery was founded in 2007. A brainstorming discussion on investment between Former Prime Minister Meles Zenawi and Pierre Castel led to the creation of the pioneering company. The third largest producer of wines in the world, the Castel brand is known to produce two brands of wines in Ethiopia – the Acacia and Rift Valley. Under Acacia – the Medium Sweet Rosé, Dry Red, Medium Sweet Red, Medium Sweet White are produced while under Rift Valley, international varieties such us Merlot, Syrah, Chardonnay and Cabernet Sauvignon are produced and Cuvée Préstige Chardonnay and Cabernet Sauvignon ,premium wines aged in French oak barrel.

Construction and Business Bank’s (CBB) branches will start giving service starting from April 4, 2016 under the name of their new owner, Commercial Bank of Ethiopia (CBE).

According to the time table set by CBE, migrating customer base and institutional data of CBB will be done by April 2, 2016.

The state owned Commercial Bank of Ethiopia (CBE) is on the final stage of its research to open branches in Washington DC, Dubai, South Africa and Djibouti.