Ethiopia shuffles executive at Metec, appointing ministers to the board
Addis Ababa — Ethiopia’s prime minister reshuffled the board at a military-industrial conglomerate that’s played a crucial role in projects to develop Africa’s fastest-growing economy. The changes at Metals & Engineering (Metec) include appointing the industry minister as chairman, and former premier Meles Zenawi’s widow to the seven-member board. The moves, detailed by company spokesperson Michael Desta, come after Prime Minister Abiy Ahmed vowed to curb what he called "favouritism" in business toward the security forces. Metec, a corporation run by retired military personnel under Abiy’s office, has worked in infrastructure and industrial projects key to the Horn of Africa nation’s centrally planned economy. But Abiy’s ascension to prime minister in April, after his predecessor failed to quell more than two years of regional protests, has brought a shift: a Metec contract for a sugar factory has been canceled and a deal to build a fertiliser complex put under review.
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