By Engidu Woldie ESAT News (January 29, 2019) Additional charges have been brought against former managers of the Metals and Engineering Corporation (MeTEC), a military industrial complex at the center of Ethiopia’s grand corruption scandal. New charges show that the former managers were running a diploma mill, issuing MSc and PhD degrees in collusion with a fake University in the ...

ESAT News (December 10, 2018) A businessman was arraigned before a court in Addis Ababa today accused of signing illegal contracts worth over 36 million dollars with the Metals and Engineering Corporation (MeTEC), a military industrial complex at the center of a corruption probe in Ethiopia. Police said they have documented evidence that Aklilu Girmay, the owner of Anona Techno, ...

by Engidu Woldie ESAT News (December 4, 2018) Police investigating alleged high profile corruption by the former CEO of the Metals and Engineering Corporation (MeTEC) presented additional charges in which Maj. Gen. Kinfe Dagnew had approved purchases and contracts worth millions of dollars without tender and procurement procedures. Among a list of charges police had presented at the court yesterday ...

by Engidu Woldie ESAT News (November 26, 2018) Officials with the Somali region in Eastern Ethiopia say army generals and officials of the Tigray People’s Liberation Front (TPLF) and the Metals and Engineering Corporation (MeTEC) were involved in the embezzlement of the regional budget and massive land grab for the last ten years. Jamal Diriye, legal advisor to the regional ...

by Engidu Woldie ESAT News (November 21, 2018) As corruption by the Metals and Engineering Corporation (METEC) continues to be uncovered, sources close to a steam power project in the Afar region say the military industrial complex has wasted $36M, leading to the project to come to a screeching halt. METEC, which took a contract from the government’s Ethiopian Electric ...

by Engidu Woldie ESAT News (November 10, 2018) The Reporter Newspaper published in Addis Ababa broke the news this morning of the arrest of over 40 officials of the Metals and Engineering Corporation (METEC) and members of the Ethiopian security and intelligence. Established in 2010, METEC, the country’s military industrial complex, was run by army generals of the Tigray People’s ...

ESAT News (June 7, 2018) A parliamentary committee has found that the Metals and Engineering Corporation (METEC) has squandered hundreds of millions of dollars in producing machineries without a thorough study of the market for its products. The Parliamentary committee found that machineries worth 326.4 million dollars were made by METEC but were left to sit and decay at its ...

ESAT News (June 5, 2018) Loans to various government run projects by the Commercial Bank of Ethiopia (CBE) has reached a whooping 14.5 Billion USD; and despite their maturity, no payment has been made by borrowers, according to ESAT sources. Major among the borrowers is the Ethiopian Electric Power Corporation (EEPCO) which has borrowed about 10 Billion dollars for feasibility ...