Abinet Gebremesqel Released from Prison after Corruption Charges Dropped on Health Grounds

Jun 1 , 2024


[ssba-buttons]

Abinet Gebremesqel was released from Qality Prison, ending an eight-month detention period. Federal Prosecutors at the Corruption Crimes Investigation Unit dropped their charges against Abinet and four other co-defendants charged in connection with a 1,972Sqm plot leased by Bole Towers Plc in Woreda 2 of the Qirqos District, near Wello Sefer Roundabout. Prosecutors had accused Abinet, an American citizen, of fraudulently transferring ownership of the property to Mullege Plc for 83 million Br. He held a 40pc stake in the property’s ownership on Africa Avenue (Bole Road), with Al-Amoudi holding the remaining 60pc. Initially, Abinet was held under custody at the Federal Crimes Investigation Bureau on Mozambique Street near Mexico Square before being transferred to the Federal Prison Centre a.k.a Qality Prison. The Unit’s Director General, Zelalem Fikadu, signed the letter dropping the charges on May 27, 2024, citing Abinet's "precarious health condition." Once a close confidant of billionaire Mohammed Ali Al-Amoudi, Abinet had repeatedly requested hospital visits during court appearances over the past eight months. Judge Yonas Mengistu of the Federal High Court Lideta Criminal Bench, one of three judges presiding over the case, signed the release order. Amare Ashenafi, a defence team of the 5A Legal firm defending Abinet, confirmed to Fortune his release on May 27, 2024.


Radar

Milkii App Disburses 25 Million Br in Collateral-Free Loans in Two Months

Oromia Bank's new collateral-free digital lending app, Milkii, has disbursed 25 million Br in loans without requiring collateral. Of this, 16 million Br has already been repaid, generating 1.4 million Br in revenue within just two months. Developed in partnership with Quantum Technology PLC, the app plans to make lending more accessible and inclusive, aligning with Oromia Bank's contribution to the Digital Ethiopia initiative. According to a press release, Milkii promotes financial inclusi...


Radar

Ethiopia Partners with UK to Ease Shipping Bottlenecks

The Ethiopian Freight Forwarders & Shipping Agents Association (EFFSAA) and the British International Freight Association (BIFA) signed a memorandum of understanding (MoU) on May 27, 2025, at Hyatt Regency Addis Abeba, to address skills gaps, customs delays, and corridor inefficiencies in the freight and logistics sector. The partnership focuses on technical cooperation, training, and regulatory reform. With over 90pc of trade dependent on the Djibouti corridor, rising congestion, customs...


Radar

Education Authority Sanctions Mishqen College for Rule Violations

The Education & Training Authority has issued a decisive directive last week, mandating legal action against Mishqen College for persistently defying regulatory orders and unlawfully continuing to offer higher education services. Mishqen College had previously been licensed to conduct undergraduate distance learning programs across multiple regions from 2019 to 2022. However, after serious regulatory breaches, the institution was ordered to cease all instruction, complete pending academic...