Native name | ትካል እግሪ ምትካል ትግራይ |
---|---|
Industry | Textiles, Transportation, Agriculture, Construction, Mining, Construction Materials |
Founded | 1995 |
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
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 EFFORT no longer owns Selam Horticulture, Dimma Honey, and Raya Field Agroprocessing.
History
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.
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 to overthrow the constitutional order."
EFFORT was damaged significantly by the Tigray War, with Almeda Textile, Ezana Mining, Saba Stones and Sheba Leather being left completely destroyed.
References
- ^ 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.