Attorney General Delists 34 Businesses

Nov 21 , 2020

The Office of the Attorney General has delisted 34 companies that are believed to have affiliations with the Tigray People’s Liberation Front (TPLF). It also put out an order to freeze the assets and bank accounts of these business entities as of November 16, 2020. The accounts of Sur Construction, Trans Ethiopia, Mesfin Industrial Engineering, Sheba Tannery, Mega Printing, Endowment Fund for the Rehabilitation of Tigray (EFFORT), Messebo Cement Factory and Meganet Corporation are those that have been suspended. The sanction is effective immediately on all the accounts of these institutions, according to Alemante Agedew, director-general of criminal asset recovery at the Office of the Attorney General. EFFORT has eight million Birr worth of shares, while Messebo Cement Factory has 61 million Br worth of shares in Dimtsi Weyane Media, according to Alemante. The government revoked the license of the television station a few months ago. The Attorney General has noted that there will be an appointment of an asset manager who will oversee the confiscated assets and resources to keep them from destruction and wastage. However, until the handover to the asset manager, the companies' respective management offices are obligated to protect all the assets properly, according to the director.