Sunday, June 16, 2024
NewsAfrican Development Bank Group - AfDB debars Ethiopian firm and its chairperson...

African Development Bank Group – AfDB debars Ethiopian firm and its chairperson for fraudulent practices

The African Development Bank Group (AfDB) has announced the 15-month debarment of Beza Consulting Engineers PLC and its Chairperson and General Manager, Gidey Gebregzibher, effective from 21 August 2023.

Beza Consulting Engineers PLC, a consulting firm registered in Ethiopia, and Gidey were found to have engaged in fraudulent practices during a tender for the Provision of Consultancy Services for the Kapoeta-Boma-Raad Road Project, the bank said.

The project is part of the Transport Facilitation and Road Upgrading Studies of the Kampala-Juba-Addis Ababa-Djibouti Corridor Programme, which aims to improve infrastructure connectivity between Uganda, South Sudan, Ethiopia, and Djibouti.

During the debarment period, Beza Consulting, its affiliates, and Gidey are not allowed to engage in any Bank Group-financed activities. To resume participation after the debarment period, Beza Consulting must implement an integrity compliance program in accordance with the Bank’s guidelines.

Gidey will also need to complete an accredited business ethics and integrity training consistent with the Bank’s guidelines, according to the Bank.

[speaker]
- Advertisement -spot_img

Subscribe

- Advertisement -

Popular

More like this
Related

Unprecedented budget proposal draws parliamentary fire, exposes inequity, inefficiency

It was with his usual nonchalance that Finance Minister...

Loan exposure worries give rise to barrage of NBE directives

Central bank Governor Mamo Mihretu has introduced a series...

Bills look to grant broader investigative powers over money laundering, terrorism financing

MPs fear bills aim at muffling opposition parties Lawmakers...

Influx of fuel business license requests prompts investigation

The National Fuel Reform Steering Committee has launched a...