Ethiopia: Prominent businessman says party conglomerates weaken fair business competition

Eyesuswork Zafu

ESAT News (June 23, 2017)

A prominent Ethiopian businessman says ruling party conglomerates and businesses run under the guise of private ownership but actually belong to the ruling party have negatively impacted fair competition and are taking unfair advantages.

Eyesuswork Zafu, the former president of the Ethiopia and Addis Ababa Chambers of Commerce, was speaking at a government sponsored forum where he said although the law clearly prohibits political parties from engaging in business activities, the fact is that the business environment in the country is hugely dominated by party owned and affiliated companies.

The finance sector, which he said was his area of engagement, is completely dominated by party owned and affiliated businesses against the laws of the country.

Mr. Zafu said a selected few are benefitting from the unfair business competition and called for a frank discussion on the issue.

EFFORT, worth billions of dollars, is a conglomerate owned by the ruling TPLF and controls every aspect of business in Ethiopia. From mega manufacturing industries to import/export and small scale retail, EFFORT unfairly dominates all types of business in the country.

The CEO of EFFORT, Azeb Mesfin, who is the widow of the late dictator Meles Zenawi, in a recent interview with a TPLF affiliated media denied that the conglomerate is owned by TPLF. She also misrepresented a London court procedural decision to prove her point saying the court ruled that EFFORT is not a TPLF company. The London court, according to documents seen by ESAT, did not pass such a verdict in an ongoing lawsuit case brought by an Ethiopian businessman against a sister company of EFFORT headquartered in London.