Four public enterprises, owned by the government of Ethiopia, are merged to establish a corporation dubbed Ethiopian Trading Business Corporation (ETBC). The corporation’s capital is said to be more than 3.8 billion Birr.

The Corporation is established in the aim of stabilizing local market, carry out integrated business activities, put in place accountability and to efficiently exploit the capacity of the enterprises.

The public enterprises that joined were Ethiopian Trading Enterprise (Alle Bejimla), Ethiopian Grain Trade Enterprise (EGTE), Ethiopian Procurement Service Enterprise and Ethiopian Fruit and Vegetables Marketing Share Company (Etfruit).

Megistu Kebede, CEO of the newly formed Corporation, explained the corporation had the mandate to distribute and supply crops, vegetables and fruits for domestic and foreign markets.

The CEO furthered, the Corporation will contribute its share for the country’s economic growth.

Source: Fana Broadcasting Corporate