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Ethiopian Industrial Input Development Enterprise Gains Birr 2.6 Billion in Six Months

EIIDE Ethiopian Industrial Input Development

Ethiopian Industrial Input Development Enterprise (EIIDE) earned Birr 2.6 billion in the first half of the current fiscal year from the sell of industrial inputs and services. It reported that it was providing quality raw materials and inputs to manufacturing industries.

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 has been working with the Development Bank of Ethiopia to increase its working capital and enhance its capacity.

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. EIIDE currently has 83 branches across the country which provide help to manufacturing industries.

Source: Fana BC and Addis Zemen