Ethiopian Shipping Enterprise revenue up 37 percent

Ethiopian Shipping Enterprise revenue up 37 percent


The annual revenue of Ethiopia Shipping and Logistics Services Enterprise (ESLSE) said it has collected a total of 25.7 billion birr (about $726 million) revenue during the budget year concluded July 7, 2020.

The income of the state enterprise is 37 percent more than the revenue collected the previous year, according Roba Megersa, CEO of ESLSE. The revenue is collected from transporting a total of 11 million tons of imported and export goods. Last year ELSE has transported some 7 million tons of goods.

He also stated the company has made 2.56 billion birr (around $72 million) profit before tax. Multi-modal operations, shipping and dry port services are among the services ELSE has been providing to its customers. The CEO also stated that the company has begun using Tajourah Port of Djibouti for the first time.

The company is also planning to use additional ports in the future, according to Mr. Roba. ESLSE is among the state enterprises, which the Ethiopian government is planning to privatize as announced a few years ago by the government.