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Azeb Mesfin bankrupting state banks
Mezgebu Tsegaye, Addis Ababa (AV) Azeb Mesfin, wife of dictator Meles Zenawi, member of the rubber stamp parliament and boss of the biggest corruption scheme in Africa called the Endowment Fund the Rehabilitation of Tigray (EFFORT) has been pushing state banks to the brink of bankruptcy.
According to well-positioned banking sources, since Azeb took over EFFORT from Sebhat Nega last year she is personally pressurizing banks to illegally grant huge amounts of loans in local and hard currency. EFFORT, which allegedly owes close to 10 billion birr in unpaid loans mainly from the Commercial Bank of Ethiopia, the Development Bank of Ethiopia and the Business and Construction Bank, is well-known for defaulting on the multi- billion birr loans it is raking out of the coffers of state-owned banks.
Azeb, widely known as the First Lady of Corruption and Queen of Mega, has been hand twisting banks, managed by inexperienced TPLF’s hirelings, to loan out a string of additional funds to EFFORT, which has practically monopolized the economy. The latest instalment of the loan bonanza to the privileged and discriminatory ethnic business conglomerate arrived in the amount of $120 million (1.6 billion birr) which was secured a few months ago from the major state banks including Development Bank of Ethiopia. The bank has already been in the red as it carries a huge burden of unpaid non-performing loans.
The latest loan was approved for EFFORT’s shady business proposal to launch a huge irrigation project in Tigray. Under Hiwot Agriculture Mechanization, one of TPLF’s numerous companies, EFFORT has already short-listed foreign agribusiness giants including, a Saudi Arabian Irrigation firm, Alkhorayet Industry and Valley, the British Irrigation company and Israeli Drip irrigation, Omni. The main idea of the project is to produce cash crop for export while two-thirds of households in Tigray depend on food aid.
“We are witnessing the most unacceptable form of discrimination that is illegal anywhere. Almost all state banks have been serving TPLF first as the rest of the nation is their last priority,” said a businessman, who spoke on condition of anonymity.
“The Prime Minister’s wife has been using her influence and privilege to play with money at the expense of poor taxpayers. This is corruption of the worst kind. Nobody knows why EFFORT is not paying tax and servicing the loans that should have been invested on essential projects that benefits everyone,” he added.
It has been reported that almost all of TPLF’s companies, which barely pay income tax, are undertaking expansion projects financed by state-owned banks that never ask EFFORT and Azeb to pay back the funds. Last year EFFORT took out a whopping $1.41 million, nearly 2 billion birr, for the expansion of Messebo Cement Factory from the ailing Development Bank of Ethiopia, which sustains its operations on loans from internal and external loans.
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EFFORT to launch 120 mln irregation project
By Wudineh Zenebe
July 27—The Endowment Fund for the Rehabilitation of Tigray (EFFORT), one of the biggest a ruling-party-affiliated conglomerates, in Ethiopia short listed five companies for its brand-new irrigation project which is going to be undertaken by one of the subsidiary Hiwot Agriculture Mechanization plc in Tigray Regional state. The short-listed companies include the United Kingdom Irrigation company, Valley, a Saudi Arabian Irrigation firm, Alkhorayet Industry, Israeli Drip irrigation firm, Omni, and the only local firm Bruh Tesfa.
The project, which is going to operate on four thousand hectares of land, is set to produce rice, sesame, soya bean and cotton by diverting the Angarab and Kaza rivers in the Humera area in Kebeba and Banat Weredas.
A high ranking EFFORT official told The Reporter that his company would award the project within the next few weeks.
Once operational the project would build living quarters for its 50 employees and would also help out by laying out a 120-kilometer road for the locality.
Hiwot is one of the 12 EFFORT subsidiary companies focusing on commercialized agriculture. Currently, the company is developing a total of 14 thousand hectares of land by using a rain-fed system. The eight-year-old company started with an initial investment of 25 million birr. It now employs a total of 300 permanent and 80 casual workers at its sesame, cotton and sorghum plantations.
Hiwot also aims to feel the input gap in the expanding Textile industry. At the same time it is eyeing the export market in the sesame and soya bean productions.
Most of the companies under the gaint conglomerate EFFORT, including Messebo and Altex (Almedn Textile Factory) are going through an expansion phase.
[Source: Reporter]
i cant imagin why the people of ethiopia keep quite when they hear and see this and other scams. Why all the good things to tigray? for 20 some years now we been seeing the same unfaire and mass theft from the rest of ethiopians and taken to tigray. Why people stay quite and look for some thing good from the bandets that are in power for 20 yrs. Why dont we go to fight them? we are very reasonable if we go war with these bandets. At least we can avoid the next generation from seeing the land entirly occupied by the tigray origin business empires. You Oromos specially OLF arent You the invisible hand to give this regim power to stay long? Woyane needs you it keeps you like Labratory virus .He doesnt like your being harmful and your being disapeard. Bc you are moving the opposit direction than his enemy. He likes you, you are his invisible hand to dismantle the large single idea . You dont even know why you are not successful for the last 50 yrs struggle. Even after the next 100 yrs you will not be one inch successful in the land of ethiopia.
I think some of you specially in the leader position are making bread the name OLF . SO pls lets do something inorder to AVOID further suffer and pain by the heavy yoke of woyane.
Dender why don`t you join EPPF or other armed groups instead of sitting in cosy AMERICA/EUROPE. The Emperor and DERG are gone and for sure Woyane will be removed sooner or latter. It is not possible to loot and kill Ethiopians indefinately
O my God, O my God…unbelievable. Let me ask you if somebody can tell me when Weyane leaves the country.
They will use all Ethiopians money for the biggest irrgation project in Tigray and they will do whatever they need.
These robbers,members of the crimefamily did not come into Ethiopia as Enterpreneurs;why then some citizens doubt that the bandits don't pay tax?
The role of the bandit,Azeb Mesfin has been nothing but a reckless robber who nibbles our country to death as others in the crimefamily do.Ethiopians,you did infact absorbed a lot in the last 19 years;how much more patience do you have to sustain more murder and looting by the robbers?
Being organized and fight the robbers tooth an nail is good;but not enough.Brave individuals must take a proactive role to remove these dispecable bandits from the surface of Ethiopia by doing what they have to do in their own way.
The robbers don't pay tax.
We must work hard an deligently to capture these robbers dead or alive.
In a federal government structure all ministries and agencies can be organized down to kebele level (regional burea, zonal department, woreda office etc) but there are four institutions which are most vital that keep the federal state together and that cannot be organized at regional or local levels (though there may be branches which are accountable to the federal govt.) Thesse are:
1. The Office of the Prime Minister (led by MZ Tigre)
2. Ministry of Foreign Affairs (led by SM Tigre)
3. National Defense Forces (led by Somora and 57 other Tigre who controll all key commands)
4. Central Bank of Ethiopia (formerly by Neway Gebreab and now by Teklewold Atnafu Tigre)
And it is not surprising that EFFORT/TPLF loot the country in broad day light as they control the army (the gun), the central bank (the Birr printing press), the Ministry of Foreign affairs ( the exit/entry control) and the Office of the prime minister (the supreme law of the land!)
Azeb First Lady of Corruption ,
When you build a house to live in it, how long does it takes you to build it assume every materials are available and how long do you expect the house to provide you a shelter and your childerens after you gone???
It took Woyane 17 years of bitter struggle to come to power and they are in power about 19 years, is that too long???
What kind of struggle did you have to rule Ethiopia over 100 years???
If you ruled Ethopia without any bloodshed over 100 years, Woyane shed blood for 17 years, deserves more than the years you ruled Ethiopia, LOGIC SAYS.
The thieves are looting. Now the question is how long….
ETHIOPIA BECOME TPLF's PERSONAL PROPERTY SINCE 1991-(Endowment fund for the Rehabilitation of Tigrai) Is a LOOTING WING OF TPLF ,
We Spoke of TPLF and its Criminal nature for a long 20 yrs ……Enough is Enough -Now I wanted to hear from The heroic Ethiopians ,What plan they have to unseat this ETHNIC WAR LORDS and Ethno-facist dictators who are leaching Ethiopia and Ethiopians with out a shame Since 1991
How come you do not talk to us all the billions of dollars in grant and loans pooring to Oromo and Amhara region for the last 20 years???
Tigray does not have any investment either domestic and foreign to employ our educated youths. The life of our poeple are about the same 20 years ago. We know every Amhara person is AN AUDITOR of Tigray how many Enjora our mothers bake every day let alone any project comes once in a blue. So far the Woyane struggle is not for Tigray people but for Oromo, Amhara, Benishangule, Southern people and Guraghea people. The Somali people could have been the biggest beneficiary but they have ONLF distruction to their own people and are not beneficiaries so far. Afar are so – so.
I come to know TPLF in 1976 E.C. in Dabat Ketema, Gondar. What happened then was as follows.
Two days before the Woyane's come to Dabat, the whole school community was unloading workshop materials for Dabat Senior Secondary School. The Dabat Senior Secondary School was lucky to be one of the model schools for Vocational School. The materials we unloaded from more than 7 heavy duty trucks included Workshop, Laboratory and Experimental materials needed for practical vocational training. As member of the then student I was hopeful to get vocational education and pusue my career. The whole school community worked hard to get things in order.
By then our school director was Ayalew Gobeze, the current Amhara Region President. He spent the whole day working with us.
But after two days, the TPLF fighters come to Dabat. After undergoing heavy fight for a day the war was won by Derg Military forces. The TPLF, while retreating to Tigray, took all the materials delivered to our school. One, among the people who carried the school materials to Shiraro (Tigray) was our school director, Ayalew Gobeze.
As his prize now he is ruling Amhara Region.
What else do you expect from robbers who come to power that way.
Why do you guys(save the shaebia agents) cry foul when a small thing is done in Tigray? Do you know that Tigray is integral part of Ethiopia? I have never heard a single complaints when Huge investments are done in Amhara Oromo, Gambela etc. Go visit Tigray and tell me if it is any better than the rest of Ethiopia. Infact it is in worest shape compared to other regions, Amhara, South and Oromia .
I know the government is deliberately exagerating any minor thing done in Tigrai and you fool people are falling pret to it.Wake up you fools,we could only get rid off the rulers in unity. They want us divded to servive.
Shame on you, all! I can’t specially believe the guy who spoke about LOGIC and BLOODSHED in his lame and idiotic attempt to jsutify a rule by one ethnic group for the longer possible time. perhaps eternally. These is all crap, idiotic, nonesense and barbaric!
BarraKu,
thank you for sharing that info with us. by the way am doing some research about the ethnic background of ANDM officials. Is Ayalew Gobeze from Tigre like Addisu Legese?
How many more years do we have to Speak about TPLF crime ????
I Wish We can Start United ,Plan and Excute …When and How to save our People from this Ethno-Criminal Gangsters and work on forming a government Which is Elected by the People of Ethiopia
Abe, You missed the point. What Azeb and co, are doing is not for Tigray. EFFORT is robbing for Meles and his cronies. Tigrians are also conned like the rest of Ethiopia….
Ethiopians,it is serious;when we seriously talk about the robbers,we are talking about shabia looters who are currently distroying Ethiopia. The two enemies of ours are inseparable and must be dealt accordingly.
If we agree Tigry is the part of Ethiopia its okay to develop Tigry there is unbalanced distribution of wealth is the other economical policy question not why development of Tigray. If the Tigray origin business empires (if there is an empire) still it’s a good thing working for Ethiopia because we need who is really working for Ethiopia not who is sting and talk out there.
And don’t you think how could we believe this talks form nothing evidence I wish to ask that for who is responsible for this information
The other thing is we don’t need war any more. If EPRDF or whatever you people call it had any mistakes we want to correct in modern way smoothly and without blood b/c this generation knows it’s not working at all.
And peals stop counting the year if you people want complain, complain on work, tangible effects on Ethiopian (positively or negatively)
Finally, If you heat or have some complain on the government doing pleas add some suggestion what is in your mind as input for Ethiopia if you are talking for the sake of Ethiopian as a whole
Why don’t you see the change things in positive way people?
Pearl
well if they can manage to develop the entire ethiopia including tigray, whats the problem. if you go to bahrdar, awasa and nazreth, not to mention addis, you find the road that lead to this regions and the cities transformed. add to this the billions of dollars that are being invested for generating power, the road network and schools all over ethiopia. what we had before was those who deprive the entire ethiopia and stash ethiopias hard earned money in swiss bank for their kins or spend it on useless war. at least today we have those who are accused of over doing it for their region. that sounds to me a step in the right direction and many ethiopians agree with me and they are showing it by giving them the benfeit of the doubt, despite the ethnic issue.
That is not the reality;of course,the fact is,there is nothing as such pubics' property in the regime that has been established to keep Ethiopians at the bottom of the economic scale.Ethiopians are paying tax,Ethiopians are jailed and imprisoned,and Ethiopians are looted and murdered;this is both the reality and the fact.
For sure,Civil uprise is around the conrnor and soon it will happen;then,Ethiopians will share equally and fairly what is available in their country;for now every single Ethiopians will keep engaged in the struggle to oust the robbers from the surface of Ethiopia.