Ethiopia’s state monopole for shipping, Ethiopian Shipping Lines and Logistics Services Enterprise (ESLSE) made a gross profit of 10 billion Birr during the first 9 months of the current fiscal year. During the period, the state monopoly transported 3.5 million tons of goods via Djibouti and Berbera ports.

It was during the first ever global annual agency meeting held in Ethiopia for 2 days until April 27, 2016. The meeting, according to Fortune, was attended by 35 international agents of the enterprise.

The meeting was said to have focused on operational issues, shipping activities and market conditions in different areas of the world. In addition to this, the agents’ as well as the enterprise’s performance and investment opportunities in Ethiopia were discussed.

It was back in 2011 that the government merged 4 enterprises and formed ESLSE. It currently operates 11 vessels, 450 heavy trucks, 7 dry inland ports and maritime academy at Babogaya.

Currently it is undertaking a wide range expansion project at Modjo Dry Port. The project is financed by a 150 million USD loan secured from the World Bank.

Source: Fortune