EFFORT Corporate Group-Board of Trustees Established

Addis Ababa, December 24/2020(ENA) The Ministry of Finance and the Federal Attorney General have announced the establishment of the Effort Corporate Group- Board of Trustees.

The announcement was made during a press conference given by Eyob Tekalign, State Minister of Finance and Attorney General Gedion Timothewos, who explained that urgent measures were taken to restitute and ensure the resumption of the operations of the Endowment Fund for the Rehabilitation of Tigray (EFFORT companies) while ongoing investigations against EFFORT continue.

Explaining about the establishment of the Board of Trustees, Eyob Tekalign said the main objective of Board is to address gaps that might be caused due to the absence of leadership and to spearhead the return of EFFORT companies’ operations to normal business.

He further stated that the board is composed of 7 individuals, including those from the public and the companies themselves, and have been elected for integrity, professionalism and political impartiality.

The board members have been appointed by the Federal High Court and added that senior staff from the Ministry of Finance and the Ministry of Trade have been included as members of the board so they can bring in their expertise, it was indicated.

Furthermore, Gedion Timothewos elaborated how the Board of Trustees the corporate offices will prioritize ensuring the companies resume their functions as investigations continue.

He said these companies will focus on rehabilitating and developing Tigray region in line with their initial mission of establishment.

Chairperson of the Board of Trustees, Tsegay Berhe said for his part that the members in the past few weeks have been diligently working to develop by-laws, and assigned responsibilities.

The priority of the Board of Trustees will be to ensure that employees of the companies can resume their work. Accordingly, he said the board will commence its work immediately.