The Ethiopian Fruit and Vegetable Marketing Enterprise and Merchandise Wholesale and Import Trade Enterprise have announced an upcoming merger. It is expected that a merger between the two enterprises will result in expanding their services.
The merger between the two state-owned enterprises will create a large retail corporation as per decisions that followed a visit to India by high level representatives of the Ethiopian government two months ago.
The merger is expected to aid in the government’s ongoing efforts to curb escalating food prices according to sources at the Ministry of trade.Large retail shops across the country have succeeded in lowering the price of goods in the past say some sources.
The two companies have been asked to submit breakdown of their resources in the run up to the merger.
The corporation that will result from a merger will be the fourth state-owned corporation in Ethiopia, including Sugar Corp, Import/Export Corp, and Ethiopian Metal and Engineering Corp.
EtFruit was established 32 years ago to market the produce of state owned farms during the Derg years. It has been involved in distributing agro-products, packed foods and spices amongst other things. It has also recently been instrumental in the distribution of sugar and edible oil.
MEWIT was established in 1993 through a merger between trading groups, including the Ethiopian Domestic Distribution Corporation and the Ethiopian Import Export Corporation.
MEWIT imports and distributes food, building materials, paper and stationery items, textiles and other goods.
Source: Capital
