Regional State Arrests More Suspects Under Tiret Case

Feb 2 , 2019

The Amhara Anti-Corruption Commission has brought five more suspects before the court, accusing them of involvement in corruption at Tiret Corporate. Three founders of Alpalma S.C, Eyerusalem Birhanu, Bethlehem Birhanu and Aynalem Haileleul; Gizachew Zewdu, founder of Bahir Dar Motors; and Mitiku Beyene, deputy CEO of Ambassel Trading House Plc, were arrested last week and appeared before the Regional High Court in Bahir Dar. The investigators have requested the court hold the suspects in custody for 14 days while they continue their probe, and the case was adjourned until early this week. Two weeks ago the Commission brought Bereket Simon, founding board chairperson of Tiret Corporate, and Tadesse Kassa, former CEO, before the court accused of allegedly misusing 35 million Br of public money. The Court had similarly granted investigators hold the suspects in custody for 14 additional days while they conduct their probes.


ZamZam Bank Joins Commodity Exchange Payment System

The pioneering full-fledged interest-free commercial bank, ZamZam Bank, has become the 24th financial institution to join the Ethiopian Commodity Exchange's (ECX) payment system. CEO of the Exchange Wendemagegnehu Negera signed the deal with the President of the Bank Melika Bedri last week. According to the CEO, joining the platform which has around 11,000 accounts registered and has transacted over 386 billion Br so far, will allow a reliable mechanism whereby traders can be certain that pay...


AfDB, ADF to Chart Transformation Path at Diamond Jubilee

The African Development Bank (AfDB) and the African Development Fund (ADF) are gearing up for a major joint meeting in Nairobi, Kenya, expected to draw around 4,000 participants. The event, taking place at the Kenyatta International Conference Centre in late May, will focus on "Africa's Transformation," a theme reflecting the continent's ongoing pursuit of economic and social development. "Despite progress over the years, Africa's transformation remains incomplete," said Vincent O. Nmehielle...


Big Art Sale Returns to Addis

The annual Big Art Sale returns to Addis Abeba this weekend. Over 100 artists are expected to showcase their original works and prints at the Hilton Addis. What's Out Addis in partnership with the Hilton Hotel is behind the event that showcases the works of over 100 artists. Big Art Sale has been around for the past 18 years showcasing paints and prints. According to organisers, it offers a chance to meet the artists and enjoy a variety of art forms with a dedicated Kids' Corner and food and...