Endowment Fund for the Rehabilitation of Tigray

Endowment Fund for the Rehabilitation of Tigray
Native name	ትካል እግሪ ምትካል ትግራይ
Industry	Textiles, Transportation, Agriculture, Construction, Mining, Construction Materials
Founded	1995
Area served	Ethiopia

The Endowment Fund for the Rehabilitation of Tigray (EFFORT) (Tigrinya: ትካል እግሪ ምትካል ትግራይ) is a conglomerate of businesses factories mainly based in Tigray Region, Ethiopia in order to improve the local economy that was devastated by the Ethiopian Civil War and the 1983–1985 famine.[1][2]

EFFORT's major companies are:[1]
Name	Industry
Mesebo Cement/Building	Construction
Sur Construction
Mesfin Engineering
Maichew Particleboard
Romanat Packaging
Almeda Textile/Garment	Textiles
Sheba Leather
National Geotextile/Gabion
Guna Trading	Agriculture
Hiwot Agriculture
Bruh Tesfa Irrigation
Raya Field Agroprocessing
Abergelle Livestock
Ezana Mining	Mining
Saba Stones	Mining
TransEthiopia	Transportation
Addis Pharmaceuticals	Pharmaceuticals

Note: EFFORT holds a 51% stake in Addis Pharmaceuticals, the miniority shareholder being a Private Equity Company [3] EFFORT no longer owns Selam Horticulture, Dimma Honey, and Raya Field Agroprocessing.[1] BNN Bloomberg on November 18 reported that EFFORTs fund were frozen because its subsidiary “companies [are] allegedly “participating in financing ethnic-based violence, acts of terrorism, connection with the TPLF, which seek[ed] to overthrow the constitutional order,” the office said in a statement on Facebook. Tigray President Debretsion Gebremichael [currently wanted by the Federal government] didn’t immediately respond to a request for comment sent by mobile phone.” [4]

References

Vaughan, Sarah; Gebremichael, Mesfin (2011). Rethinking business and politics in Ethiopia: The role of EFFORT, the Endowment Fund for the Rehabilitation of Tigray. London: Overseas Development Institute. pp. 6–61.
Young, John (March 1997). "Development and Change in Post-Revolutionary Tigray". The Journal of Modern African Studies. 35 (1): 85–86. doi:10.1017/s0022278x97002346. JSTOR 162055.
https://www.bloomberg.com/news/articles/2016-01-21/54-capital-plans-ethiopian-pharma-factory-after-30-million-deal#:~:text=54%20Capital%2C%20a%20London%2Dbased,in%20Ethiopia%2C%20an%20executive%20said.
Gebre, S., & Marks, S. (2020, November 18). Ethiopia Freezes Assets of Fund Accused of Backing War in Tigray - BNN Bloomberg. Retrieved January 18, 2021, from https://www.bnnbloomberg.ca/ethiopia-freezes-assets-of-fund-accused-of-backing-war-in-tigray-1.1524014

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[Vaughan_2011-1] Vaughan, Sarah; Gebremichael, Mesfin (2011). Rethinking business and politics in Ethiopia: The role of EFFORT, the Endowment Fund for the Rehabilitation of Tigray. London: Overseas Development Institute. pp. 6–61.

[Young_1997-2] Young, John (March 1997). "Development and Change in Post-Revolutionary Tigray". The Journal of Modern African Studies. 35 (1): 85–86. doi:10.1017/s0022278x97002346. JSTOR 162055.

[3] ttps://www.bloomberg.com/news/articles/2016-01-21/54-capital-plans-ethiopian-pharma-factory-after-30-million-deal#:~:text=54%20Capital%2C%20a%20London%2Dbased,in%20Ethiopia%2C%20an%20executive%20said.

[4] Gebre, S., & Marks, S. (2020, November 18). Ethiopia Freezes Assets of Fund Accused of Backing War in Tigray - BNN Bloomberg. Retrieved January 18, 2021, from https://www.bnnbloomberg.ca/ethiopia-freezes-assets-of-fund-accused-of-backing-war-in-tigray-1.1524014