FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds




Attorney General Recovers 87m Br

Jun 22 , 2019


[ssba-buttons]

The Attorney General’s Office reported that it has recovered around 87 million Br from defendants accused of grand corruption. The Office has succeeded in collecting the amount through the process of litigation and negotiations made with the accused as well as their lawyers and families, according to Terefe Assefa, assistant attorney general and acting director for corruption crimes. “Currently, around 98 people are in litigation charged with alleged grand corruption crimes and other cases,” he said, presenting his office’s performance report concerning the past 11 months to the standing committee for Law, Justice & Democratic Affairs in parliament. He also reported that the Office is investigating 35 public institutions and 20 universities that have shown irregularities of accounts during the auditing process. To expedite the process of recovering money transferred out of the country, the Attorney General has signed agreements with two foreign countries, according to the report. During the reported period, the office has opened 46,723 files for litigation, out of which 1,834 are cases related to corruption, while 643 are related to organised crime, according to the report. About 14,357 cases have been completed, of which 270 are related to corruption.


Radar

Annual U.S.–Ethiopia Real Estate Expo to Debut in July

Harvest Circle Inc., a U.S.-based organisation, will launch the first annual U.S.-Ethiopia Real Estate & Construction Expo in July 2026. The event will bring together Ethiopian and U.S. real estate developers, construction firms, banks, insurers, property managers, and investors to explore partnership, financing, and investment opportunities. Organisers say the platform seeks to promote private sector-led urban development, facilitate diaspora investment, and expand market access for Ethiop...


Radar

Addis Abeba Housing Bureau Warns Landlords against Illegal Rent Hikes, Threatens Legal Action

The Addis Abeba Housing Development and Administration Bureau has issued a warning to landlords attempting to impose unauthorised rent increases or carry out unlawful evictions as the residential leasing cycle nears its statutory June 30 deadline. The warning follows reports of landlords pressuring tenants to vacate properties under claims of personal use or sale, alongside demands for steep rent hikes, according to comments made to state media. Kidist W. Giorgis, Head of the Bureau, said...


Radar

Development Bank Turns Corner as Profit Hits Eight Billion Br

The Development Bank of Ethiopia (DBE) posted a gross profit of eight billion Br in the first nine months of the fiscal year while repaying 15.6 billion Br in outstanding debt. Total income reached 17.3 billion Br, exceeding its target by 12pc. Presenting its performance to the House of Peoples' Representatives Standing Committee for Government Development Organizations, the bank highlighted progress from ongoing reforms, including reducing its non-performing loan ratio to 13.4pc, below the Nati...