The Attorney General's office in Ethiopia has frozen the bank accounts of 34 companies identified as being part of the portfolio of an investment fund focused on the development of Tigray. The companies are accused of having participated in the financing of ethnic violence and acts of terrorism linked with the TPLF (Tigray People's Liberation Front), which seeks to overthrow the constitutional order.
The Endowment Fund for the Rehabilitation of Tigray is managed by the Tigray People's Liberation Front, the political wing of the movement currently in conflict with the central government in Ethiopia.
This decision adds to the fears of international investors who have injected billions of dollars into the country since the arrival of Prime Minister Abiy Ahmed in 2018. The freezing of funds creates an environment of uncertainty about the country's growth prospects.
Yields on the country's Eurobond maturing in 2024 have increased by 2%, a sign that investors prefer to get rid of it.
Idriss Linge
• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...
• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...
• Kenyan President William Ruto signs strategic partnership with UK Prime Minister Keir Starmer to b...
• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...
• Morocco began expanding Casablanca Airport to raise capacity to 35M passengers by 2029• The $1.7B project supports the “Airports 2030” plan to...
• DRC extended its cobalt export ban to September 2025 due to high stock levels.• Major producers like CMOC face delivery issues; supply risks remain but...
• Eskom restored Medupi Unit 4 early, adding 800 MW and helping end load-shedding• Coal still dominates South Africa’s power, slowing the energy...
• Ethiopia completed the $4B Grand Renaissance Dam to boost power capacity and energy independence• Egypt and Sudan fear water supply risks, with no...
The Gerewol tradition is a fascinating ritual celebrated by the Bororo Fulani, a nomadic community primarily located in Chad and Niger. This annual...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...