The Ethiopian Trading Businesses Corporation planned to buy 327,234 quintals of grain, coffee, consumer goods, vegetables and fruits for 1,463,489,845 Birr and 224,592 quintals for 1,090,171,587 Birr was achieved in the fiscal year 2016, in January. The achievement is 69% and 74% in volume and in value respectively.
In the last seven months, the corporation planned to purchase a total of 913,329 quintals of grain, coffee, vegetables and fruits and consumer goods and was able to fulfill 90 percent of the plan by purchasing 837,337 quintals.
The corporation planned to sell in the domestic and export markets in January, the amount of grain, coffee, consumer goods and vegetable and fruit production is 86,070 quintals worth 554,623,366 Birr, and 100,331 quintals of produce worth 812,145,069 Birr has been distributed to the market. Hence, the performance is 117% in volume and 146% in value.
The corporation planned to sell 1,087,367 quintals of produce in the domestic and foreign markets in seven months, and 1,144,031 quintals of produce was distributed to the market and 105 percent of the plan was achieved.
Regarding exports, in January, 410,122 US dollars was earned from coffee exports, and in the last seven months, the corporation planned to export 363,146 quintals of grains, pulses, oilseeds, and coffee, and exported 388,441 quintals of product, and achieved 107 percent of the plan.
The Ethiopian Trading Businesses Trading Corporation participated in the 26th Addis Chamber International Trade Fair, which held from February 22-26, 2024 at the Addis Ababa Exhibition Center.
By participating in the trade show, the corporation introduced the products and services to the visitors and created market linkages.
It has been noted that 60 international and local business organizations were participating in the trade show with their products and services.
In the meanwhile, the top leaders of the corporation visited the trade show.
The 14th Addis Chamber International Agricultural and Food Trade Fair, organized by the Addis Ababa Chamber of Commerce and Industry, was held from December 7-9, 2023 at the Millennium Hall at Addis Ababa.
At the trade fair, the Ethiopian Trading Businesses Corporation introduced to the visitors the its grain and coffee products, vegetables and fruits, and consumer goods that it offers to the market at affordable prices. Discussions were held on the possibility of creating market linkages with manufacturing companies.
The top executives of the corporation also visited the fair.
Members of the Standing Committee on Government Development Organization Affairs of the House of People's Representatives conducted an in-person review of the Ethiopian Trade Corporation's performance for the past six months on January 17/2024.
The Chairman of the Standing Committee, Honorable Professor Mohammed Abdu, pointed out that the Ethiopian Trading Businesses Corporation has done encouraging work to stabilize the inflation of consumer products. However, he stressed that it is necessary to plan widely for those with performance deficiencies.
Acha Demisse, Chief Executive Officer of Ethiopian Trading Businesses Corporation, thanked the members of the Standing Committee for attending and conducting an evaluation. He pointed out that the support provided by the committee is good. He stressed that the security problem and the illegal business system in different parts of the country are a challenge for the corporation and the CEO explained that the existence of the institute is in danger because the properties of the institute in different parts of the country are being seized without the law.
It has been pointed out in the report that the Corporation contributed significantly to the stabilization of the market by deducting a total of 1.3 billion birr from the normal transaction price of the products offered by the Corporation in the last 6 months.
The members of the standing committee discussed with the members of the basic workers union of the corporation besides evaluating the implementation of the plan of the last six months of the corporation. They also gave feedback after visiting the consumer goods business sector store and coffee center in Kaliti, the grain storage and organization center in Saris and the activities of the Corporate Logistics and Technical Services Directorate.
In conclusion, the Chairman of the Standing Committee, Honorable Professor Mohammed Abdu, stated that transparency has been created and that they have been made to know the institution well. He said that they will support the corporation to solve its challenges. He added that the workers and the management should work together and the effort to stabilize the price should be strengthened.
Since the establishment of the corporation, Mr. Firdu Ayele, who has been working as an executive in the grain and coffee business sector, and Mr. Kifle Tesfaye, who has served as an executive in the procurement and consulting service sector, resigned from the corporation due to retirement.
The top management of the corporation welcomed them on December 13, 2023 GC at the program they organized at the Global Hotel.
At the ceremony, the CEO of the corporation, Mr. Acha Demisse, congratulated the former executives who left the corporation due to retirement and wished them to spend the rest of their time happily with their families.
In his message, Mr. Firdu Ayele pointed out that the recognition for his contribution in the corporation is not only for him, but for all the members of the current management. He added that the farewell ceremony made me feel that my hard work was worth it.
On his part, Mr. Kfle Tesfaye mentioned that the corporation is the place where he gained knowledge and stated that although he is physically away, he is always with the corporation in spirit.