TIRET based on its mandate, operates under two wings, namely – The TIRET Social development and TIRET Investment.
TIRET Social Development activities budget is allocated from the profits generated by its companies and businesses. The social development activities are very extensive as it covers activities relating to women and children, support elderly people, education, youth empowerment, interventions in physically handicapped, sports, as well as others. By convention, every TIRET companies are expected to commit their own social responsibility to the people of the region special around their surroundings. As the previous council decided, TIRET is expected to commit a minimum of 3% of its profit to Social Development. TIRET spending on socio-developmental activities more than $10,000,000 million birr /$434,782.61 US Dollar/ annually.
We try to establish socio-developmental schemes which showcased sustainable poverty eradication models and standards that are being replicated by many other Socio-developmental organizations and NGOs across Ethiopia.
Aside from using profits from companies for socio-development activities, larger portion of TIRET companies’ dividend are re-invested into establishing new companies, acquiring companies and developing its “Projects” into profit-making investments which creates value-added final products through backward and forward linkages.
In other words, TIRET investments are made up of companies and projects which are legally registered and licensed entities operating based on the commercial law of Ethiopia. Our businesses are strategically setup and managed to be profitable and competitive. TIRET companies as registered entities are subject to every tax, deductions and conditions associated with any other company operating within Ethiopia. Our “Projects” are investments under review and pilot studies/demonstrations of business ideas under review for viability which integrates into our TIRET’s goals and objectives. They are registered entities which are expected to grow to fully-fledged companies. Our “Projects” can be considered as part of our Research & Development endeavors which carefully translates theoretical ideas into practicability- part of ‘learning curves’. We are essentially establishing formidable and sustainable industry that will positively impact the lives of the people in the locations where they are established.