The Addis Ababa Chamber of Commerce and Sectoral Associations (AACCSA) is embarking on a significant reform initiative aimed at revitalizing its membership and restoring its former prominence. The chamber has announced plans to investigate the needs of the business community and assess its suitability for current economic conditions.
In a statement from the chamber, it was revealed that a General Assembly meeting is scheduled for January 11, 2025, where new leaders will be elected to address ongoing issues and implement necessary changes. This assembly is expected to play a crucial role in shaping the future direction of the organization.
Currently, Addis Ababa is home to over 482,000 traders; however, annual membership in the chamber has stagnated at around 4,000. Mesnebet Shenkute, a member of the Board of Directors, emphasized that new bylaws will be presented during the General Assembly to facilitate an increase in membership and ensure that the chamber effectively represents the diverse interests of traders in the city.
The chamber’s leadership has acknowledged past governance challenges that have hindered its effectiveness. Minister Shenkute noted that there have been violations of good governance within the organization, and those responsible have faced criticism. As part of the reform process, efforts are being made to review key operational manuals, including codes of conduct and financial management practices.
The goal is to create a more transparent and accountable organization that can better serve its members and contribute to the overall economic development of Addis Ababa.
In addition to increasing membership, the AACCSA is preparing to transform itself into a high-level development institution. This initiative aims to foster collaboration with local investors and align its objectives with national economic goals. By working closely with government entities, the chamber seeks to enhance its capacity to support businesses and drive economic growth.
The board of directors elected by members will be tasked with ensuring that the assets of the business community are utilized effectively for their intended purposes. This focus on responsible asset management is seen as essential for restoring trust within the business community.
During a recent conference addressing illegal trade organized by the AACCSA, officials underscored the need for collective action against illicit trade practices that undermine legitimate businesses. The conference highlighted that while many traders contribute positively to the economy, those engaged in illegal activities pose significant challenges.
Kenenisa Lemi, Secretary-General of the Ethiopian Chamber of Commerce and Sectoral Associations, stated that consultations involving stakeholders are being prepared to mitigate the impact of illicit trade on normal business operations.
In fiscal year 2023/24, authorities reported seizing contraband and illicit funds totaling 15.5 billion birr, including 4.5 billion birr worth of smuggled goods. These alarming figures underscore the urgent need for effective measures to combat illegal trade and protect legitimate businesses from unfair competition.
