Ethiopia is investigating possible misappropriation of funds meant for the expansion of ten State-owned sugar factories that are part of the industry now slated for privatization. Advertisement“We are looking at all aspects of utilization of the funds,” Auditor-General Gemechu Dubiso said, referring to 10 of 13 State-owned factories he didn’t identify. AdvertisementThe ministry will receive a final valuation report on the sugar factories from Oxford, England-based Booker Tate by mid-December, Brook said by email on Tuesday. Sugar Corp. managers approved advance and excess payments to METEC for incomplete work, according to Gemechu. Sugar Corp. Chief Executive Officer Woyo Roba, deputy CEO Abraham Demissie, and spokesman Gashaw Aychiluhim declined requests for interviews.

Source: Ethiopian News October 23, 2019 06:45 UTC