Fifty years - a big leap for a company, but a small step in a country with 2000 years of rich history behind it. And just as that history is built on many outstanding human feats, so is the story of MOENCO. Without the entrepreneurial skills of its founders back in January 1959, it would not exist and I am proud to pay tribute to Mr Lappine, the founder of MOENCO and Mrs Maroussia Lappine, a courageous partner in the early days. In 1968, Inchcape PLC bought a majority shareholding and today MOENCO’s owner is one of the leading companies in the automotive sales and service business, with operations in 26 countries and its shares listed on the London Stock Excha.

As well as paying tribute to the company’s founders, I would also like to praise the commitment of all past and present employees; my predecessors; executive directors; and shareholders, who have all played their part over the years. Without them, MOENCO would not be the success it is today. I would like to express my sincere gratitude for their effort, dedication, wisdom and sound strategic views.

Today, MOENCO has four operational sites: two in Addis Ababa; one in Awassa, which opened in 1998; and one in Bahir Dar that opened in 2004. Additional outlets are planned to open soon in Nazret and Kaliti. Our network includes 13 dealers across the country, we employ more than 580 employees and have an annual turnover of close to one billion Ethiopian birr.