Corporate History (1991 – Up to date)
The history of Belayneh Kindie Import, Export and Associates is directly linked to the life of a visionary young man from mountainous rural village called Gerelta (in West Gojjam, Ethiopia). This energetic young man started business as a small scale trader of butter, honey and cereals between countryside and Addis Ababa and supplying consumable commodities to rural households. The biography of this businessman is stated here to note the benefits of hard work which should not be overlooked or avoided by anyone who has a vision to become a successful business owner.
Belayneh Kindie obtained 4,600 Birr as his initial startup capital from his mother W/ro Zewditu Zeleke 27 years ago. After developing his entrepreneurial skills, through vital business experience, he transferred his permanent residence from Gish Abay (Rural town in West Gojjam) to Addis Ababa because his day to day dream was to become a successful businessman. He continued doing business in Addis and created company after company through hard work and ironic working discipline. Now in his late forties Belayneh Kindie has become prominent and respected businessman in Ethiopia. The world’s famous financial magazine “Forbes” has given him recognition for his business success in its 2017 digital news page. The secret behind Belayneh Kindle’s business success is only hard work. Today, BKIEA is engaged in diversified business lines. First, the company involved in exporting agricultural commodities to the international market in 2005.
In 2005 BKIEA opened exporting trade in Ethiopia with an initial capital of 3 million Birr. Based on the philosophy of pursuing integrity and sound management rather than easy gains, the BKIEA flourished in the export of oil seeds and other related sectors. The company set itself the goal of boosting its export sales of oil seeds to become the first-largest trading company in Ethiopia. As a result, among those exporters engaged in sesame export it has been ranking first as of 2010 and contributing huge foreign exchange to the country’s economy.
Solidifying the company’s management foundation was the biggest challenge during the early period. As a result the Manager and Deputy Manager encouraged those amateur employees, who were not well versed in the trading business, by telling them that “enthusiastic amateurs outperform professionals” every time, and strove to establish sound management through strict credit control and other means. Side by side also, the company steadily expanded its presence in different business lines.
In 2006, a transport enterprise, namely Belayneh Kindie Private Transport, has come in to existence with 6 heavy duty trucks having a loading capacity of 40 tons each. Currently the enterprise has more than 106 truckers.
The company set out its vision of becoming an integrated business enterprise, by the year 2008, aimed at promoting business activities in addition to the existing trading activities in order to expand its earnings base by having two major revenue sources: Belayneh Kindie Import and Gerelta Business PLC.
Then after the company focused on strengthening its financial standing through the prioritization of businesses and improvement of profitability, as well as on reinforcing its business foundation by adding and enhancing the quality of prime assets, under a five-year strategic management plan.
In the year 2009, a project team was formed to promote large-scale projects, resource development and cultivation of new industries from a cross-divisional, medium to long-term perspective like agro-processing, manufacturing and hotel industries. As a result, the company has acquired Ethiopia Hotel situated at Addis Ababa and Adama Ras Hotel situated at Oromia Regional State, with a total cost of 134 million Birr, and it secured around 40,000 square meters of land from Amhara National Regional State (Bahir Dar City) for constructing five star resort hotel that may cost over Birr 1 Billion. To administer the hotel by international brand agreement has been reached between Mr. Belayneh Kindie and Hilton Hotel.
BKIEA has also become a major share holder in Tsehay Industry (Kality Metals Factory), a factory which plays a dominant role in manufacture of steel metal, LTZ, etc. On top of this, it is a major share holder in Tsehay Insurance Share Company. BKIEA has invested in construction industry by purchasing different construction machineries for rental service. In addition to machinery rental, it has been engaged in road and building construction by obtaining Grade 3 general contractor license from the Ethiopian Ministry of Construction and Urban Development.
As Ethiopia adopts Agricultural Led Industrialization, the company decided to participate in the Agricultural sector and submitted a project proposal to the Southern Nation Nationalities and Peoples Government for acquiring farming land. The government provided 3500 hectares of land in which the company is fully exploiting the land for coffee plantations and production of other seasonal crops. So far the investment has a cost of over 25 Million Birr.
From Trading to Manufacturing
Taking the government’s policy in to account and its prime importance for the economy BKIEA has been engaged in the manufacturing sector. PhiBela edible oil factory was established with a capital of 1.2 billion Birr. This factory acquired 30 hectors of land from Burie town, Amhara National Regional State. The construction work of the factory has been completed and machineries installation and commissioning task will be followed.
In 2017 BKIEA started the construction of Automotive Assembly Factory at Gelan Town in Oromia Regional State (30 km south of Adiss Ababa). The factory covers 23,000 m2 of land. When the factory becomes operational, it is expected to assemble IVECO brand heavy duty trucks, luxury buses and automobiles. The factory is expected to start its assembly in the end of 2018. In addition, when the factory is completed different items of vehicles will be assembled like: heavy duty dray cargo trucks with a loading capacity 40 tons, heavy duty fuel cargo trucks with a loading capacity of 45 thousand liters, automobiles, golden dragon luxury buses and other medium size cars.
BKIEA has purchased PP bags factory in 2018. The country’s requirement of PP bags is met through both local production and imports. Therefore, in order to meet the local market demand, BKIEA is engaged in the production of PP bags at its factory located in Kality Sub City (South of Addis Ababa). This factory was owned by purchasing from the previous owner.
The factory has provided job opportunity for 78 employees on permanent basis. Currently, the production capacity of this factory is 40,000 PP bags per day.
In 2018 two Concrete Pole Manufacturing Plants have been established in Bahir Dar and Gondar Cities in partnership with Mr.Mengistie Tadesse. These Plants are expected to solve the power interruption problem which is frequently occurring in the area. BKIEA has invested in different banks and insurance companies.
BKIEA’s Business Lines
Belayneh Kindie Import, Export and Associates (BKIEA) started exporting agricultural commodities to the international market in 2005 with an initial capital of ETB 3 million. The business company met the goal of increasing its export sales of oilseeds and become the leading sesame oilseeds exporter in Ethiopia. In the last six consecutive years, BKIEA has generated USD 300 million. In addition, it has generated more than 10 million Euros in the same period. The foreign currencies obtained from international trade have played essential role to the national economic development endeavours of our country.
Over the last decade, BKIEA has registered overwhelming growth in terms of sales turnover; it has provided employment opportunities for more than 3000 citizens. Although the export sector is becoming BKIEA’s principal business, it has been also engaged in transport service, construction, hotel service, manufacturing and agriculture. .BKIEA has developed the culture of creating new lines of business year after year. The following are major business lines that BKIEA has currently involved. The competitive strength of Belayneh Kindie Import Export Associates lies on experienced and trustworthy employees who are supervised by the owner himself.