Ethiopia freeze bank accounts of the rebel TPLF companies

The decision to freeze bank accounts of TPLF businesses came at a time when the Ethiopian government is launching ‘final military offensive’ in the north

borkena
November 17, 2020

Prime Minister Abiy Ahmed’s government announced Tuesday to freeze the bank accounts of companies belonging to Tigray People’s Liberation Front (TPLF).

It is the office of the Federal Attorney general that ordered it. Thirty-four TPLF owned companies will not be able to access their bank accounts in the country.

According to a report by Ethiopian Broadcasting Corporation (EBC), Sur Construction, Guna Trading, Trans-Ethiopia, Mesfin Industrial Engineering, Selam Transportation Association, Mega Printing, EFFORT Private Ltd, Ezana Mining Development, Mesobe Construction works, and meganet corporation are some of the companies whose access to their bank accounts is denied.

Alemante Agedewu is the Attorney general office director-general of the recovery department of criminally acquired wealth. He is quoted as saying that bank accounts opened in the name of the organizations listed above are under the freeze. 

Why now? Government authorities claim they have got adequate evidence that the TPLF has been attempting to ship the money in their accounts to destinations outside of Ethiopia.

Prime Minister Abiy Ahmed’s government has been accusing the TPLF of financing and organizing violence in different parts of Ethiopia since he took office in April 2018 following a relentless countrywide protest against TPLF dominated government.

From the massacre in Benishangul Gumuz to Guji in the Oromo region of Ethiopia to Gura Farda in the southern part of the country, TPLF is said to be behind it. Even the assassination of Hachalu Hundesa, which caused the premeditated massacre of hundreds of people, mostly ethnic Amhara, in the Oromo region of Ethiopia is was orchestrated by the TPLF-OLF alliance, according to the Ethiopian government.

When TPLF took control of government power in 1991 in Addis Ababa, it did not have significant assets. The situation changed within a few years. A considerable number of former guerrilla combatants of the organization turned to millionaires. Relatives of key leaders including the late Meles Zenawi similarly turned out to be millionaires

The TPLF itself as an organization created a huge business empire in the country in banking, construction, manufacturing, transportation, agriculture, mining, and export trade, among other sectors.

Sebhat Nega had an interview with VOA Amharic in 2009. He was CEO of The Endowment Fund for the Rehabilitation of Tigray (EFFORT), He said EFFORT created unprecedented wealth in the country and that wealth belongs to TPLF.

The business preferential policies, tax waivers, and loans from state-owned financial institutions without any collateral were among the reasons how TPLF leaders and relatives turned out to millions in no time.

On Monday Ethiopian government said that it is launching what it called a final attack on TPLF forces in the northern parts of the country.



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4 Responses to "Ethiopia freeze bank accounts of the rebel TPLF companies"

  1. አሸናፊ ማርቆስ   November 17, 2020 at 4:21 pm

    በአመት ለአስፈላጊ የመንግስት ሠራተኞች for essential governmental workers በኢትዮጵያ መንግስት ድጎማ Ethiopian government’s subsidy ታክሎበት ለኮሮና ክትባት እያንዳንዱ አስፈላጊ የመንግስት ሠራተኛ ስምንት ሚሊየን ብር ከግሉ ኪስ ውጭ እድርጎ እንደሚከፍል መገመቱ ተረኞች ገንዘብ ማምለክ በተራ እንደሚቀጥሉ ያመላክታል።

    Reply
  2. Ittu Aba Farda   November 17, 2020 at 6:18 pm

    What Chairman Debre and his cabals have been trying to do is self-evident in a way they had found success during the door knob Mengistu regime in the 1970’s and 80’s all the way until the day they marched into Addis/Finfine with their rag-tag militia. That same tactic has been tried and met some success by others before them. Lenin and Mao had written blue prints about it. What Debre and hooligans are trying to do is take some aggravating military actions both on Eritrea and Ethiopia so both countries will be left with stained reputation and show them to the world that these two governments are incompetent and unable to protect their armies and citizens. By such violent strike they will force both governments to take military actions where civilians will be killed and their properties destroyed thus eroding any support these two states are enjoying now inside their countries and overseas. Such tactics have worked like a charm in majority of countries that were dealing with armed rebels. They will try to smuggle their operatives and plant bombs in civilian area and even carry out assassinations of notables even foreign diplomats. They will hurl their missiles guided merely by human sense of direction coupled with a slice knowledge coordinates targeting presidential palaces in both capitals. Then PM Abiy and President Isaias will lose their cool and order carpet bombing. They may also send misinformation to both countries thru their operatives telling about the place Debre and the entire gang will be holding a meeting on a given day of the week. Then Abiy will send one of his SU-27’s and bomb the crap out of the location but it will turn out to be a market place or church where hundreds of civilians will lose their lives. Jackpot!!! Amnesty International! Help!!! BBC!!! Help!!! VOA! Where are your noisy reporters!!! Abiy and Isaias are massacring our civilians just because they are from Tigray!!! ICC At The Hague!!! I want to file a complaint about crimes committed against humanity!!! Jackpot!!!!!
    I am sure both PM Abiy and President Isaias are aware of this trap.

    Reply
  3. Yordanos Merawi SF   November 18, 2020 at 3:40 am

    “One thousand dollars or thirty seven thousand birrs per year is the average income per year if people earning incomes in Ethiopia.”was recently said by the “pragmatic” leader of Ethiopia PM Abiy Ahmed.
    After further investigation and calculation conducted by independent researchers it was found out that what PM Abiy Ahmed said was actually semi true. The thing what PM Abit Ahmed failed to mention was this amount of one thousand dollars was also counting the yearly incomes of foreign investors who invested in Ethiopia. For example Mohammed Alamoudi’s yearly income was calculated. . Same as diasporas who got investments in Ethiopia were counted and used in this calculation, the diasporas yearly income is so high since they got investments worldwide ,not only in Ethiopia but PM Abiy Ahmed chose to add their income to come up with a one thousand dollars per year average incomes of people working in Ethiopia. Even refugees mostly Eritrean refugees in Ethiopia income was also calculated since all all foreign refugees currently residing in Ethiopia automatically get residential permits and work permits once they become refugees in Ethiopia , that’s how the thirty seven thousand birrs per year or one thousand dollars per year average income in Ethiopia was calculated. If you calculate only Ethiopian citizens earning their incomes in Ethiopia only , the figure is very so low to even compare with the figure ($1,000 USD per year) the PM recently announced.

    Reply
  4. Yordanos Merawi SF   November 18, 2020 at 3:42 am

    “One thousand dollars or thirty seven thousand birrs per year is the average income per year of people earning incomes in Ethiopia.”was recently said by the “pragmatic” leader of Ethiopia PM Abiy Ahmed.
    After further investigation and calculation conducted by independent researchers it was found out that what PM Abiy Ahmed said was actually semi true. The thing what PM Abiy Ahmed failed to mention was that this amount of one thousand dollars was also counting the yearly incomes of foreign investors who invested in Ethiopia. For example Mohammed Alamoudi’s yearly income was calculated. . Same as diasporas who got investments in Ethiopia were counted and used in this calculation, the diasporas yearly income is so high since they got investments worldwide ,not only in Ethiopia but PM Abiy Ahmed chose to add their income to come up with a one thousand dollars per year average incomes of people working in Ethiopia. Even refugees mostly Eritrean refugees in Ethiopia income was also calculated since all all foreign refugees currently residing in Ethiopia automatically get residential permits and work permits once they become refugees in Ethiopia , that’s how the thirty seven thousand birrs per year or one thousand dollars per year average income in Ethiopia was calculated. If you calculate only Ethiopian citizens earning their incomes in Ethiopia only , the figure is very so low to even compare with the figure ($1,000 USD per year) the PM recently announced.

    Reply

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