Addis Ababa – May 20, 2020 – UK based Gemcorp announced today that it has won yet another bid to deliver 200,000 Metric Tons of wheat to the National Disaster and Risk Management Commission.
It is to be recalled that Gemcorp entered the Ethiopian Market in early 2018, with a strong commitment to support the economy and invest in Ethiopia. Since July 2019, Gemcorp successfully delivered 900,000 tons of milling wheat and over 23 million liters of edible oil to Ethiopia since the second quarter of 2018. Mr. Kostas, Regional Manager of Gemcorp in Ethiopia stated, “Over the last 18 months, Gemcorp has established a strong and reliable trading platform for agricultural products in Ethiopia and is currently engaged in the supply of both milling wheat and edible oil to both state-owned and private local importers.”
Gemcorp’s physical presence in Addis Ababa and Djibouti is one of its unique operational and strategic advantages that allowed the company to ensure reliable communication and control during import operations and movement of goods from their origin to the final end-users throughout Ethiopia. The new win of 200,000 metric tons of wheat is proof of our reliability, credibility, and competitiveness.
Mr. Kostas also added, “We are in Ethiopia for the long haul and are committed to supporting the Ethiopian Economy to the best of our abilities in various investments and solutions that will enhance the foreign exchange generation in the country, and ensure the sustainable importation of essential products.”
GenCorp serves emerging markets where international banks and merchants typically have constrained appetites. As an African specialist, GenCorp recognizes the complexity of these emerging markets and has been developing creative, tailored solutions to meet the needs of sovereign governments and corporate entities by carefully listening to and understanding their challenges. “As such, we are providing a ‘one-stop’ funding and supply and distribution solution, with the ability to combine large-scale direct lending with physical merchandising services for sovereign and corporate clients alike. We pride ourselves on our ability to develop relationships based on trust and reliable delivery of promised services with key strategic governments and growth-focused groups in target markets.” Added Mr. Kostas.