Purpose black Eth trading share company- a dynamic business established to offer an economic solution with an end-to-end product-to-consumer has come up with an additional unique franchise concept called “Qeleb Kegeberew Franchise.” Purpose black introduced the scheme on Saturday December 17, 2021 in a ceremony held at Alem cinema.
“The model is based on PBETH’s original Franchisee Shareholder Model (FSM) which is a special shareholding product offered by PBETH to potential individuals and/or business investors. The distinct FSM program provides an excellent opportunity for investors to invest in PBETH and receive maximum return as compared to the ordinary shareholding model,” said Fiseha Eshetu, /MD/ founder of the platform adding, “Through the regular shareholder model investors receive only dividends distributed annually as per the decision of the general assembly, whereas, in the PBETH’s Franchise Shareholder Model (FSM) investors receive additional regular income from the net profit of each franchise they invest through a 50% profit sharing arrangement from the net profit of the franchises they purchased. The FSM model is the first of its kind in the world which was launched to attract more investors by offering them huge benefits when they choose the FSM.”
Purpose black is a new initiative launched in May 2020 through the collaborative effort of more than 130 black expertise, Purpose Black was founded with a goal of helping black farmers to produce globally competitive products and get fair prices for their products, and has also aims of reducing youth unemployment, promoting diaspora investment, selling products at a fair price and stabilizing the consumer market by promotion of export and increase of foreign currency earnings. Furthermore, it is keen on facilitating agricultural technology transfer. Its initiative is to be a multibillion birr endeavor encompassing the construction of mega agro processing complex, and e-commerce marketplace, five hypermarkets, ten big supermarkets, a chain of more than 1000 retail and distribution stores all over Ethiopia.
The company has started selling its 100 million shares worth of 10 billion birr with each share costing 100 birr with the minimum share one can buy being 10 shares worth 1000 birr. It is also requirement to pay only 25 percent of the payment which is 250 birr for the minimum purchase and the rest can be paid in 2 years’ time interval. This of course is made in a way that makes the system accessible for all. So far the company has 1,498,663 shares which have been taken with a pledge of 149,855,804 in birr.
The company is selling shares through the 17 banks, financial institutions and telebirr which is also is one of the options alongside CBE birr and other digital wallets. Those who are abroad can get the share through a credit card from Abyssinia bank and commercial bank of Ethiopia. Similarly, depositing in swift accounts or money transfer platforms using the commercial bank are ways of purchasing the shares. For those who do not have bank access, they can get the share in Ethiopian embassies.
The first target is to mobilize capital and to this end, the platform is planning to raise about ten billion birr in capital through three ways; selling share locally, mobilizing the diaspora, and through propose black Africa which is targets to collect ten billion dollars to distribute all over the continent of which Ethiopia will benefit through the same.
For the new Franchise Shareholder Model (FSM) the founder explained that there are three that purpose black has provided. For instance, shares for farm land which is 100,000 birr per hectare, for two types of its retailer stores 2 million birr for type one retailer store and 3 million birr for type two retailer stores. The third which is in agro processing will go for 100,000 birr per share or $2000 for the diaspora.
The MD said that Purpose black has started its process to obtain 1000 hectares of farm land in Arbaminch town top this regard.