Tag Archives: commercial bank of ethiopia (CBE)

Ethiopia: Another Liquidity Crisis within Three Months!

18 Apr

Editor’s Note:

    This, ought to be expected. Under unaccountable system of governance, when the going gets rough, there are bound to be official recourses to such nationally disastrous actions, perhaps not unlawful, but harmful as they may be to the broader society.

    The author is right, in democratic countries, the regulator, i.e., the central bank, operates with the nation’s interests at heart. Unfortunately, the heart of those in power and the regulators in Ethiopia are in the same place: upkeeping and, if possible, continuity of the beleaguered regime in Ethiopia as ther primary goal.
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CBE forced on disastrous path taking over foreclosed manufacturer Turkish Saygin Dima

4 Jan

Posted by The Ethiopia Observatory (TEO)
by Addis Fortune
 
After repeated attempts to transfer the ownership of troubled multimillion Br textile company Saygin Dima, the Commercial Bank of Ethiopia (CBE) has taken control of the company. The bank is still looking into options for the administration of the company. Saygin Dima, which used to be owned by Turkish investors, has been in the foreclosure process for the past six months. However, the factory has failed to generate any interest from buyers. The foreclosure came after the former owners failed to pay their loans.
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The issue in Gambella commercial farms is ethnicity. Why are some Ethiopians more privileged than others, in Gambella the army killing tens of thousands to keep them ‘safe’! There’s crime to unveil!

23 Dec

Posted by The Ethiopia Observatory (TEO)
by Addis Fortune Results from Gambella Commercial Farms Disappointing

Massive loans poured over the years into commercial farms in the Gambella Regional State have results with 84pc spending on the intended purposes, but with disappointing results of productivity that is a fraction of the investments, a report presented to the Prime Minister’s Office reveals.

The report comes after an investigation into allegations of mismanagement of loans, favoritism and impropriety on the part of recipients surfaced last year.
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የኢትዮጵያ ንግድ ባንክ በተበላሸና ባልተወራረደ ሂሣብ ሃገራችንን ለአደጋ እያጋለጣት ነው ይላሉ የባንኩ ሠራተኞች!

11 May

Posted by The Ethiopia Observatory (TEO)

(ኢሳት ዜና ግንቦት 3/2008): ለኢሳት የደረሰው የባንኩ የውስጥ ኦዲት ሪፖርት እንደሚያሳየው በበጀት አመት እንደ አውሮፓውያን አቆጣጠር በ2013 እና 2014 ባንኩ ያላወራረደው 11 በሊዮን ብር እንዲሁም የተበላሸ ገንዘቡ 1 ቢሊዮን ብር ቢደርስም፣ የባንኩ ባለስልጣናት ከተመደበላቸው መደበኛ በጀት ውጭ 729 ሚሊዮን ብር አውጥተዋል። “ሙስናን በመዋጋት አገራችንን ከዘላለማዊ ከእዳ እንታደግ “ በሚል የባንኩ ሰራተኞች የውስጥ እንቅስቃሴ የጀመሩ ሲሆን፣ ከመንግስት ባለስልጣናትና ከህወሃት ታዋቂ ባለሀብቶች ጋር ከፍተኛ የጥቅም ቁርኝት የፈጠሩት የንግድ ባንኩ ስራ አስኪያጅ፣ ባንኩንና አገሪቱን ለከፍተኛ እዳ እየዳረጉዋት ነው ይላሉ።
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Rural land grab has unleashed mass dislocation, imposed financial risks on Ethiopia – while benefitting some investors: Case Karuturi

23 Jun

By Keffyalew Gebremedhin – The Ethiopia Observatory (TEO)

The cut off date in the foreclosure notice of June 3, 2014 by the Commercial Bank of Ethiopia (CBE) against Karuturi Global’s agribusinesses in Ethiopia was potent in doing what it was supposed to do. Not only that it had him pay the required $25 million in foreign exchange. But also it cut down to size an uncooperative client, who for years had been known to suck every dividend from the influences his half-thought through feeding the world promises and smooth talk had availed him.
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