Tesco, British multinational merchandise retailer, is conducting negotiations to open a mega store in Ethiopia. 
Ethiopian government representatives began negotiations with Tesco as part of the efforts to invite international wholesalers and retailers to combat inflation.
Multinational companies maybe the solution to the national market which has been unable to deliver basic commodities at affordable prices according to sources.
A group of experts representing the government have been on a visit to India to review how such companies were attracted in to the market there.Ethiopia is exerting effort to control annual inflation rates which rose again to 36.3% in February from 32% in January and the overhaul of the management of the Merchandise Wholesale and Import Trade Enterprise including inviting an international corporation to takeover.
MWITE is in the process of introducing institutional reform although to enhance operations according to Gemeda Aleme, newly appointed General Manager although the Ethiopian government is considering subcontracting its management to an international company.
Tesco has stores in 14 countries across Asia, Europe and North America and is the grocery market leader in the UK, Malaysia, the Republic of Ireland and Thailand.
The company was founded in 1919 by Jack Cohen as a group of market stalls. The Tesco name first appeared in 1924, after Cohen purchased a shipment of tea from T. E. Stockwell and combined those initials with the first two letters of his surname, and the first Tesco store opened in 1929 in Oak, Middlesex.
Source: The Reporter
