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Local company, Enderas Asset Management, says they have created a new way for companies and organizations to manage and dispose of their assets which will help companies more easily follow protocols and avoid legal difficulties. Anteneh Feleke, founder and managing director of Enderas, said that his company has been operating for the past two years by managing the assets of organizations and consulting the public and private sector on how to dispose of them.
The company said that it has engaged in the valuation of assets at the current market price, which helps customers understand the value of their products when they a transferring them to another party.
As one of its major missions, the company plans to modernize property management which should increase profits for the company.
“Currently the way things are done, organizations form a bid committee to discard disposal assets which is not a professional duty of the committee,” Anteneh, a former prominent national football team player, said.
“If you see the telecommunication or electric enterprise, they are busy focusing on their jobs and they don’t have the expertise to discard their assets. These types of organizations often form a committee to undertake the asset disposal operation outside of their profession,” he added.
“They are not responsible for removing the assets but have to engage in their own work,” he added.
A company like ours will consult them and evaluate the real value, which helps the organization obtain the actual value of the product, of the assets that are set to be disposed, according to Anteneh.
So far the company, which is unique to the country as a private entity, has worked with several organizations and financial institutions.
“For instance we have consulted Africa Insurance to sell their assets worth over 34 million birr,” he explained.
“We are working on pre and post valuation with insurance firms that will help them rate the premiums. Several other services are also provided by Enderas including calculation of depreciation of assets,” he added.
Enderas also consults on auctions after assets of which verdict has been reached in court.
According to the management of Enderas, the operation that they undertake will also shine a light on the shadow of dealing with asset dispositions.
“This outsource operation to remove the company’s asset does not only generated a real value for the organization and individual but it also smashes illegal acts that are observed in the biding process,” Anteneh, who is running for president of the Ethiopian Football Federation, said.