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[Dec 2017] Transnational Computer Technology (TCT) Latest Ethiopian News AddisBiz.com | Ethiopian Business Directory & Portal - Addis Biz

Court freezes assets of major construction companies in a continued corruption case

Corruption crackdown continues as the number of suspects who are placed under custody reaches 55 as of yesterday. Moreover, an asset freeze order was issued against 210 individuals and 15 companies who are suspected of having dealings with the officials, individuals and brokers who are arrested for corruption charges.

The court has issued an asset freeze order on Gemeshu Beyene Construction Plc and Ellily Hotel, both owned by a notable businessman- Gemeshu Beyene.

Construction companies including, ASER Construction Plc.,

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MoFED launches new financial management system

A new Integrated Financial Management Information System (IFMIS) is being tested in six federal ministries and two regional states with a view of transforming the government financial system, the Integrated Budget and Expenditure System (IBEX).
Ministry of Finance and Economic Development (MoFED)with Oracle Corporation and Transnational Computer Technology (TCT) is currently implementing the system that uses a customized Oracle E-Business Suite (EBS).
The new system is said to create financial transparency and accountability as

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