Ethiopia: Pressure Mounts On Access

Home buyers are increasingly organising themselves, through sub-committees, to ensure they do not lose their investments The most popular are nine sites, at which around 80pc of Access' clients have bought homes, advancing from half to full payments up front.

The ever increasing frustration of Access Real Estate SC's clients, over the company's failure to deliver homes, culminated in them taking matters into their own hands last week. No less than 19 sub-committees have been formed, for each site where Access Real Estate and affiliated companies; Meri and Pacific real estates (in which Access owns controlling shares) have sold homes to buyers, in order to put the beleaguered company to task and account for its progress to date.

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