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.
Native name | ትካል እግሪ ምትካል ትግራይ |
|---|---|
| Industry | Textiles, Transportation, Agriculture, Construction, Mining, Construction Materials |
| Founded | 1995 |
Area served | Ethiopia |
Companies
edit| 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
editEFFORT 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- ^ 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.
- ^ "54 Capital Plans Ethiopian Pharma Factory After Deal". Bloomberg.com. 21 January 2016.
- ^ 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.
- ^ 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
- ^ "News: Regional states presidents, city mayors visit Tigray's war ravaged factories in Wukro". Addis Standard. 27 April 2023.