Firehiwot Guluma Tezera
Firehiwot Guluma | Sept 4, 2013
Since the dictator TPLF seized power, it has been clearly engaged in massive corruption and unethical business practices by national or international business rules. As a ruling party, it not only owns strategic sectors of the economy and engages in commercial and trading activities, it also puts competing private sectors in a hopeless no-win situation. This preponderant economic dominance is also used as a political weapon to harass, incarcerate, dominate, weaken and control opposition forces in order to stay in power indefinitely.
The TPLF, the core political power of Ethiopian government, has transformed the Ethiopian economy from State ownership to the private ownership by political parties, mainly the TPLF, by buying investment assets formerly owned by the government of Ethiopia, as prescribed by the World Bank Report and political coercion by the United States Government. At the same time, the TPLF has also started a huge investment program of its own through sham corporate structures. For example, the TPLF controlled Endowment Fund of Rehabilitation of Tygrai (EFFORT) is a conglomerate with an asset estimated well over a billion Ethiopian Birr involved in business investment in all aspect of the Ethiopian economy.
It was established by expropriating capital equipment from different parts of the country and by the infamous defaulted bank debts. Currently there is no business sector that is free from the involvement of EFFORT. It stretched from production to distribution, from finance to insurance, from wholesale to retail, from real-estate to horticulture, from mining to IT. Peculiarly, this trade empire hasn’t ever been audited by external auditor nor repays the loan it borrowed periodically.
Surprisingly, almost 99.9% of the employees in these innumerable companies of EFFORT are Tigrian; which means that majority of the economy is occupied by either the Tigrian private companies or by the extractive trade empire called EFFORT; and they primarily privileged job opportunity for Tigrians. As the complete cycle of economic dominance and privileged labour market portrays, we are under a severe economic genocide. The following tables show TPLF companies under EFFORT.
Companies with investment capital of < 20,000,000 Million Ethiopian Birr
| Company Name | Yr.Est(EC) | HQ | Capital | Board chairman |
| Selam Transport | 1995 | Mekele | 10,000,000birr | Arkebe Ekubay |
| Segel Construction | 1995 | Mekele | 10,000,000birr | Araya Zerihun |
| Mega Net Corp | 1995 | Mekele | 10,000,000birr | Alemseged Gebreamlak |
| Hitech Park Axion Association | 1995 | Mekele | 10,000,000birr | Shimels kinde |
| Fana Democracy plc | 1995 | Mekele | 6,000,000birr | Negash Haile |
| Express Transit | 1995 | Mekele | 10,000,000birr | G/selassie Gidey |
| Ethio Rental Axion Association | 1995 | Mekele | 10,000,000birr | Atikilt Kiros |
| Dilate Brewery | 1995 | Mekele | 15,000,000irr | Kahsay Tewolde Tedla |
| Dessalegn Caterinary | 1995 | Mekele | 15,000,000birr | Dr.Maru Erdaw |
| Addis Consultancy House | 1995 | Mekele | 10,000,000birr | Sibhat Nega |
| Birhane Building Construction | 1995 | Mekele | 10,000,000birr | Bereket Mazengiy |
| Total Capital | 116,000,000birr |
Companies with investment capital between 20-49 Million Ethiopian Birr
| Company Name | Year Est (EC) | Capital | HQ | Board Chairman |
| Sheba Tannery Factory Axion Assoc | 1995 | 40,000,000 | WUKRO | Abadi Zemu |
| Meskerem Investment | 1995 | 40,000,000 | Axum | Tewodros Ayes |
| Africa Insurance Axion Association | 1995 | 30,000,000 | A.Ababa | Yohannes Ekubay |
| Global Auto Sparepart | 1995 | 26,000,000 | A.Ababa | Teklebirhan Habtu |
| Experience Ethiopia Travel | 1995 | 26,000,000 | Mekele | Tony Hiki |
| Addis Engineering consultancy | 1995 | 25,000,000 | A.Ababa | Arkebe Ekubay |
| Hiwot Agricultural Mechanization | 1995 | 25,000,000 | Mekele | Yohannes Kidane |
| Berhe chemical Axion | 1995 | 25,000,000 | Mekele | Abadi Zemu |
| Rahwa Yibenal Fiyel Export | 1995 | 25,000,000 | Mekele | Yassin Abdurahman |
| Star Pharmaceuticals | 1995 | 25,000,000 | Mekele | Arkebe Ekubay |
| Tesfa Livestock | 1995 | 20,000,000 | Mekele | Yohannes Kidane |
| Total Capital | 307,000,000 Birr |
Companies with a paid-up capital of >50.000.000 Million Ethiopian Birr
| Company Name | Year Esr(Ec) | Capital | HQ | Board chairman |
| Almedan Garment Factory | 1995 | 660,000,000 Birr | Mekele | Abadi Zemu |
| Mesfin Industrial Company | 1995 | 500,000,000 Birr | Mekele | Arkebe Ekubay |
| Mesob Cement Factory | 1995 | 240,000,000 Birr | Mekele | Abadi Zemu |
| Almeda Textile Factory | 1995 | 180,000,000 Birr | Mekele | Abadi Zemu |
| Sur Construction | 1995 | 150,000,000 Birr | A.Ababa | Arkebe Ekubay |
| Trans Ethiopia | 1995 | 100,000,000 Birr | Mekele | Shimelis Kinde |
| Dedebit Saving & Loan | 1995 | 60,000,000 Birr | Mekele | Atkilit Kiros |
| Ezana Mining Development | 1995 | 55,000,000 Birr | A.Ababa | Tewodros H. Berhe |
| Addis PharmaceuticalsProduction | 1995 | 53,000,000 Birr | A.Ababa | Abadi Zemu |
| Tana Trading House Axion Association | 1995 | 50,000,000 Birr | A.Ababa | Sibhat Nega |
| Total Capital | 1,868,000,000 Birr |
Companies that did not make their paid-up capital public.
| Ambassel Commerce | Dinsho Share Company | Tigrai Tagai Association | Brook Chemical Share Company |
| Dashen Beer Factory | Express Ethio Travel Service | Tigrai Development PLC | Computer Networking Technology |
| Amhara Meleso MaquaQuam | Berhan Building Construction | Star Pharmaceutical Importers | National Electromechanical |
| Saba Emnebered | Guna Trade Services | Biftu Dinsho | Oromia Credit Bank |
| Adwa Flour Factory | Wendo Trading | Shala Advertisement | National Geo-Textile |
| Trans Ethiopia | Tikal Agri Tigrai | Walta Industry | Alage Forest Products |
| Sebhat Nega PLC | Addis Transport | Tikur Abbay Transport | Martha poultry |
| Dima Honey Processinf plant | Zeleke Agricultural Mechanization PLC | Beruk Tesfa Plastic Factory | |
| Aberdele Animal Export Company | Maichew Particle Board |
*Some Board Chairmen might have moved within the parastatals.
*The amount shown on the tables above are initial start-up capitals. The total net worth of the parastatals has quadrupled.
Table Source:Ginbot 7
