Jump to content

Endowment Fund for the Rehabilitation of Tigray

Add links
From Wikipedia, the free encyclopedia
Endowment Fund for the Rehabilitation of Tigray
Native name
ትካል እግሪ ምትካል ትግራይ
IndustryTextiles, Transportation, Agriculture, Construction, Mining, Construction Materials
Founded1995
Area served
Ethiopia

The Endowment Fund for the Rehabilitation of Tigray (EFFORT; Tigrinya: ትካል እግሪ ምትካል ትግራይ) is a conglomerate of businesses factories mainly based in Tigray Region, Ethiopia.

Companies

[edit]
EFFORT's major companies are:[1]
Name Industry
Mesebo Cement/Building Construction
Sur Construction
Mesfin Engineering
Maichew Particleboard
Romanat Packaging
Almeda Textile/Garment Textiles
Sheba Leather
National Geotextile/Gabion
Guna Trading Agriculture
Hiwot Agriculture
Bruh Tesfa Irrigation
Raya Field Agroprocessing
Abergelle Livestock
Ezana Mining Mining
Saba Stones
TransEthiopia Transportation
Addis Pharmaceuticals Pharmaceuticals

EFFORT holds a 51% stake in Addis Pharmaceuticals, the miniority shareholder being a Private Equity Company [2] EFFORT no longer owns Selam Horticulture, Dimma Honey, and Raya Field Agroprocessing.[1]

History

[edit]

EFFORT was founded in order to improve the local economy Tigrayan economy, which was devastated by the Ethiopian Civil War and the 1983–1985 famine.[1][3]

On 18 November 2020, BNN Bloomberg reported that EFFORTs fund were frozen because its subsidiaries had allegedly "participating in financing ethnic-based violence, acts of terrorism, connection with the TPLF, which seek[ed] to overthrow the constitutional order."[4]

EFFORT was damaged significantly by the Tigray War, with Almeda Textile, Ezana Mining, Saba Stones and Sheba Leather being left completely destroyed.[5]

References

[edit]
  1. ^ a b c Vaughan, Sarah; Gebremichael, Mesfin (2011). Rethinking business and politics in Ethiopia: The role of EFFORT, the Endowment Fund for the Rehabilitation of Tigray. London: Overseas Development Institute. pp. 6–61.
  2. ^ "54 Capital Plans Ethiopian Pharma Factory After Deal". Bloomberg.com. 21 January 2016.
  3. ^ Young, John (March 1997). "Development and Change in Post-Revolutionary Tigray". The Journal of Modern African Studies. 35 (1): 85–86. doi:10.1017/s0022278x97002346. JSTOR 162055. S2CID 155076002.
  4. ^ Gebre, S., & Marks, S. (2020, November 18). Ethiopia Freezes Assets of Fund Accused of Backing War in Tigray - BNN Bloomberg. Retrieved January 18, 2021, from https://www.bnnbloomberg.ca/ethiopia-freezes-assets-of-fund-accused-of-backing-war-in-tigray-1.1524014
  5. ^ "News: Regional states presidents, city mayors visit Tigray's war ravaged factories in Wukro". Addis Standard. 27 April 2023.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Endowment_Fund_for_the_Rehabilitation_of_Tigray&oldid=1254641401"