TPLF leaders are planning to transfer EFFORT to their individual ownership in the name of make it IPO, document reveals. Remember they claim EFFORT was established by money they got from Western donors due to the 1980s drought and meant to rehabilitate war affected people of Tigray. In reality most of the seed money was acquired from the banks they robbed on their way to power. Then they drove out competitive businesses and enabled EFFORT to monopolize the market.
Today it is the largest cooperation with over 60 companies under it. Since maintaining such a large company in the name of one ethnic group has become indefensible, they are now planning to ‘privatize’ it as IPO. The attached files are survey’s they had commissioned towards this end.
Why privatize it? Because they now realize they are likely to loose political power and the new power holders whoever they might be will be tempted to nationalize the EFFORT conglomerate. So privatizing it before hand is a preemptive measure. They assume no new regime will be brave enough to nationalize private company. Note that although privatized the company will continue to fulfill its founding objective…allow Tigrean elites dominate the economy. They new ‘private’ owners will be party leaders, relatives and loyalists who will own it on behalf of the oligarchy.
That is what they are planning. But although established in the name of people of Tigray EFFORT grew by explaining the national economy hence it belongs to the whole of the country. Hence it must be nationalized and then privatized with proceeds going to the whole country through the national treasury.
*** By Jawar Mohammed