Enterprise Falls Short in Debt Collection

February 9 , 2019


Enterprise Falls Short in Debt Collection

The Ethiopian Industrial Inputs Development Enterprise, which was established four years ago to supply material for industries, failed to collect 80pc of its outstanding revenues from its customers. In the first half of the current fiscal year, the Enterprise can only manage to collect 66 million Br out of the 325 million Br in receivables from the material it supplied to companies. While supplying material, the Enterprise gives a six-month grace period for its clients to pay back what they owe, bur most of the companies failed to settle their amount due on time. Due to its uncollected receivables, the Enterprise has filed complaints against buyers in the courts, according to Endale Habtamu, CEO of the Enterprise.


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