Ethiopia charge head of military-run conglomerate METEC with corruption


mereja.com

Authorities in Ethiopia have charged the boss of a military-run industrial company with corruption.

Kinfe Dagnew, the former boss of the Metals and Engineering Corporation (METEC), has been charged with four counts of corruption in connection with the purchase of tractors. His alleged corrupt practices are believed to have earned him billion of dollars.

METEC is a military-run company established in 2010. It is the largest military-industrial complex in the East African country. METEC creates military equipment as well as civilian products. It also works with some foreign companies. […] CONTINUE READING

Additional reporting from Reuters:

Ethiopia charged the former head of military-run industrial conglomerate METEC with corruption on Thursday, nearly two months after his arrest.

Kinfe Dagnew was charged with four counts of corruption related to the procurement of tractors, said a judge in the Lideta High Court in Addis Ababa. His co-defendants faced three further charges. Kinfe was arrested after a months-long investigation into METEC, which uncovered suspicious procurement practices involving more than $2 billion.