Ethiopian Trading Enterprise to become operational in January


The Ethiopian Trading Enterprise is being set up to modernize and provide a reliable platform for trade in the country and will become operational in January 2014.
The trade enterprise, which is being established by the government in a bid to create modern and reliable trade practices in the country, has already started recruiting employees, according to reliable sources.  
The regulation of the  for profit public enterprise indicates that the state enterprise has an authorized capital of one billion birr, of which a quarter is paid-up capital.
The enterprise will distribute products with the required quality and standard through wholesalers and retailers to consumers at competitive prices to ensure market stabilization. It will also ensure products are sold to consumers in a traceable and accountable manner. Furthermore, it will work on expanding stores and distribution centers geographically to ensure proximity and accessibility to consumers.
The enterprise will utilize information communication technology to ascertain efficient storage and distribution of products and transparency in the trading business, according to Regulation No. 285/2013 which legally established the Ethiopian Trading Enterprise by the Council of Ministers.  
Implementing a strong back-end supply chain management system to ensure dynamic and efficient supply and distribution of products and playing a collaborative role with the private sector in strengthening modern and competitive wholesale and retailing business practices throughout the country, among other things, are the other purposes that the enterprise has been established for.
The enterprise will initially have 100 employees. “More people will be employed when the 37 branches in 26 cities and towns are opened after six months,” one high-level official at the Ministry of Trade (MoT) told Capital.
The enterprise has retained the services of an international firm for the next two years. “A German company, AT Kearney, will be consulting the enterprise for two years,” said the official. “Ethiopians will take the lead after that,” he said.
The firm does consultancy work in more than 30 countries worldwide.
Officials at MoT who are directly involved in the affairs of Trade Enterprise declined to comment by stating that they have decided to keep a low profile. “We don’t want to talk about it ourselves,” said an official at the Ministry.  
Nuredin Hussein, former Director of Trade Licensing and Registration, has been assigned as Director General of the new enterprise.
The government already has Merchandize Wholesale Trading and Import Enterprise (MWTIE), Ethiopian Grain Trade Enterprise (EGTE), and Ethiopian Fruit and Vegetable (ET-Fruit), operating for the last several decades.