The company had attempted to save the properties in question from being auctioned off to pay some bank debts. Apparently, title deeds on most of the units are yet be transferred to clients thereby making them, practically, properties of OLOGO PLC. Many of these clients are staff members of UN affiliated organizations, who had borrowed from their place of work to acquire properties. He persisted that the affairs of O-Logo PLC would not interfere with that of O-Logo Construction. This as many argued that there would be no way that most banks would have rendered him much freedom to borrow without the real-estate collateral.

Source: Ethiopian News November 24, 2018 06:47 UTC