ESAT News (Dec. 20)–The state-run ETV has reported that Mesfin Engineering, one of the many companies owned and operated by the Tigray Peoples Liberation Front, has been awarded a contract worth 2.6 billion birr.
Owned by the Endowment Fund for the Rehabilitation of Tigray (EFFORT), Mesfin Engineering PLC has been awarded the contract to construct “boiling houses” for three sugar factories that are planned to be constructed.
Amanuel Gebrekidan, manager of the company, told ETV that the company is making efforts to increase its net profit to 600 million birr annually.
EFFORT owns over 60 companies most of which have been accused of being blighted with corruption despite enjoying special privileges and preferential treatment they receive from the TPLF led government.
Although the law forbids political parties to engage in businesses, EFFORT’s companies are widely alleged to use their connection with the TPLF to secure bank loans, which they mostly default, and do not properly get audited. They are also said to engage in tax evasion defraud the public huge sums of money in excise and income tax.
EFFOR is the biggest business monopoly that has a huge stake in the Ethiopian economy. The other monopoly is Sheik Mohamed Al Amoudi’s MIDROC, which is the second largest business conglomerate in Ethiopia.
Azeb Mesfin, EFFORT’s CEO and Meles Zenawi’s widow, has recently claimed that her husband had written a strategic plan to make Tigray the industrial hub of Ethiopia in five years.