Illicittrade

Ethiopia arrests 90 foreign illegal miners

Ethiopia arrests 90 foreign illegal miners

According to federal government press release, citizens of different countries are engaged due to illegal mining in Ethiopia. The Government Communication Service has stated that, 45 foreign nationals have been arrested in Gambella region for illegal mining including gold. In a press statement given by the state minister of Communication Services, Selamawit Kassa, that 3 Ethiopians collaborators were also arrested in the region. Similarly, in Benshangul Gumuz region, 47 foreigners were arrested for illegal mining, including gold, while 9 private associations and 7 Ethiopians were also arrested. In a recent operation, a total of 92 foreigners and other Ethiopians have…
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Ethiopia losts $44 billion of wealth by illicit finance

Ethiopia losts $44 billion of wealth by illicit finance

Ethiopia losts $44 billion of wealth by illicit finance in a decade. Macroeconomic analyst and researcher Professor Alemayehu Geda told Sheger Radio that the wealth that was fled abroad in 10 years are increasing surprisingly. The researcher explained that a large amount of money is exchanged in the city outside of the normal system. Professor Alemayehu said that, Ethiopia has lost more than 44 billion dollars in the past 10 years. The recent 10-year foreign exchange rate will be higher than the previous 44-year rate. The macroeconomic researcher added that, the amount of wealth that fled Ethiopia in 44 years…
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Illicit Gold and khat trade messes Ethiopia’s economy -PM Abiy Ahmed

Illicit Gold and khat trade messes Ethiopia’s economy -PM Abiy Ahmed

Prime Minister Abiy Ahmed responded to the questions from the House of Representatives. Prime Minister said that illegal business activities are affecting the country's foreign exchange to a great extent. He also mentioned that the production of gold and khat is going out through smuggling this year. The Prime Minister said that a year ago, 20 quintals of gold were sent from Asosa to the central market, but this year only 3 quintals were sent, which is an indication of the expansion of gold smuggling business. He added that even though tantalum is produced at a high level of profit,…
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