Ethiopian Industrial Input Development Enterprise (EIIDE) announced that it was working to resolve the shortage of industrial inputs in the country. For the current fiscal year, EIIDE has plans to purchase industrial inputs worth Birr 2 billion from the domestic market and import other industrial inputs at a cost of USD 18.9 million to supply the inputs to companies.

According to Yeshimebet Negash, CEO of EIIDE, the enterprise was unable to supply sufficient raw materials for companies in the 2021/2022 fiscal year due to low working capital. In this regard, the enterprise and the Development Bank of Ethiopia held discussions on how to increase the working capital of EIIDE and enhance the capacity of the enterprise.

EIIDE currently has 83 branches across the country which provide help to manufacturing industries. Yeshimebet related that the enterprise was not operating at the required level in the past due to faults attributable to managerial incompetence and other factors. It is now working to alleviate the problems created by its management in the past and improve its performance.

Source: Addis Zemen