July 19, 2024

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Purpose Black Ethiopia

Accounts of Purpose Black Ethiopia Blocked by Government

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The government has blocked the bank account of Purpose Black Ethiopia. The company announced that its bank account has been completely blocked for the 3rd time in a year for unknown reasons.

In addition to the closure of the organization’s accounts for the past three weeks, it has been reported that the CEO Fiseha Eshetu’s accounts have also been closed. Fiseha Eshetu owned Unity University campus, but sold it to Sheik Hussein Al Amoudi/Midroc for around 60 million birr,and left Ethiopia for USA. Later he returned to Ethiopia and launched this project.

Purpose Black Ethiopia company has been advertising to build a billion worth business center at the heart of Addis Abeba. Many people bought its shares.

Purpose Black has reported that the organization has been facing problems in the past few weeks. The CEO said we have reached a point where we cannot pay salaries & office rent. The company has more than 20 thousand shareholders and more than 1 thousand permanent employees. It announced recently that its capital had reached 2.4 billion birr.

Reportedly, an investigation has been ordered into the affairs of the Purpose Black Ethiopia.

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