New management of Purpose Black Ethiopia company is starting to take measures to dismiss employees. Purpose Black Ethiopia was launched in May 2020. Company’s accounts have been frozen by the Ethiopian government.
Purpose Black Ethiopia joined the agriculture industry about three years ago by saying that it will reduce the cost of living. It has started taking steps to reduce the number of employees, said the company’s executive officer.
Ermias Berhanu (Dr.) who is the new CEO of Purpose Black starting from mid-June, confirmed this decision in a talk yesterday.
The company has more than 1,600 employees. The executive Ermias Birhanu (Dr) said there is no other option than working with the government. He said he will try to solve the problem and return the 1 billion birr that has been frozen by the government.
Last month, Purpose Black Ethiopia chief fled Ethiopia. Fisseha Eshetu, the CEO, released a message from the US. The CEO accused Ethiopian government officials of demanding bribe. His company’s bank accounts were blocked by government a few weeks ago. CEO’s personal bank accounts were also frozen.
“First they demanded bribe of 250 million birr, then 200 million birr” – Dr. Fisha Eshetu accused government officials. He claimed to be in possession of telephonic evidence regarding bribe demand by government officials. “I left the country because I was forced by the oppressors,” he said.
Thousands of people bought Purpose Black Ethiopia shares. With CEO having fled the country and company’s bank account frozen, the shareholders are extremely worried about their investment.
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Purpose Black Ethiopia CEO Flees Ethiopia