FinCEN Files: Investigation into Dirty Money Transfers from Major Global Banks

At least $ 2 trillion in suspicious transactions were carried out between 2000 and 2017 by several major global banks. This is what an investigation by the International Consortium of Investigative Journalists, made up of 400 journalists from the media in 88 countries, including the investigation units of Radio France and the newspaper Le Monde, reveals.
For their investigation, ICIJ journalists were able to obtain "suspicious activity reports". These are top-secret documents that US bank internal compliance officials send to US financial intelligence agencies when they detect questionable money transfers.

According to these documents, 2,000 billion dollars in suspicious transactions may have been carried out. It is dirty money linked to drugs, corruption, organized crime and terrorism.

Large banks are singled out like JP Morgan, Deutsche Bank, Bank of New York Mellon or HSBC. They ensure, however, that they make significant efforts to combat financial crime an…

Ethio Telecom: The government plans to sell only 40% of Ethio Telecom’s shares in order to retain the majority

Despite the coronavirus crisis, Ethiopia continues to work on plans to privatize its national telecommunications company. The government plans to sell only 40% of Ethio Telecom’s shares in order to retain the majority.
 
Ethio Telecom: The coronavirus is not right about the privatization project

The coronavirus does not stop Addis Ababa towards its objective of privatizing Ethio Telecom. The Ethiopian Communications Authority (ECA) said on Thursday that the privatization process would continue despite the pandemic. What the Minister of Finance, Eyob Tekalign Tolina, confirmed to Reuters by specifying that foreign companies will soon be called to tender.

According to the ministry, 40% of Ethio Telecom's shares can be acquired by a private operator. A small proportion will be open to the Ethiopian public, but the state will retain the majority of the firm’s capital.

Since the Ethiopian Prime Minister had his plan of deprivation, several telecoms giants have dispatched sherpas to Addis Ababa to study the contours of the Ethiopian offer. If Stéphane Richard, head of the Orange group said he was "extremely interested", responding to La Tribune Afrique in September 2018 in Marrakech, the group recently expressed its interest in the new licenses that the government plans to launch to create competition on the market. Ethiopian Telecom. In addition, MTN, Etisalat and Vodacom are all operators on the lookout.




With its 100 million inhabitants, Ethiopia remains one of the African countries least affected by Covid-19, with less than 420 cases of contamination, 128 healings and five deaths on Friday. The privatization of Ethio Telecom and the opening up of competition should profoundly transform the telecoms market in this East African country.

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