The Ethiopian Shipping and Logistic Services Enterprise (ESLSE) has announced that it is taking the necessary measures for a prospective merger with the Lake Tana Transport Enterprise (LTTE). ESLSE intends to expand its local maritime operations significantly with the merger.

According to the CEO of ESLSE, Roba Megersa, says that the merger is going to be part of the enterprise’s expansion outlined in its recently adopted five year strategic plan. LTTE is going to be integral to this expansion as it is one of the largest transport enterprises in the country.

LTTE’s decades of local water transportation are also going to be integral to ESLSE’s development of a national water transport framework. Given LTTE’s struggles during the first half of the current fiscal year (it only brought in ETB 3.8 million of its planned ETB 13.1 million), the merger is going to be beneficial for both parties.

LTTE currently operates 10 small vessels to transport people and goods across Lake Tana and owns six recreational sites on the banks of the lake that it also uses to rent out docking sites to private boat owners.

The merger is not the only step that ESLSE is taking to fulfill its expansion plans. Just last week, the enterprise announced that it is finalising the purchase of 3,000 shipping containers, more than doubling its current stock (2,940 containers).

The enterprise is also accepting bids from lenders to finance the purchase of two bulk cargo ships and has brought in more than 150 cargo trucks from Chinese manufacturer Jinan Sinotruck Co.

The Reporter

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