Ethiopia: Shareholders Under Fire

Four years ago, Mihiret Geremew used to work as a janitor with Ethiopian Airlines for a monthly salary of 600 Br. In search of a better livelihood, however, she gave that job up and trained to become a barber. She now works at Selam men's barbershop around Hayahulet. While working there she wanted to use her limited savings to make some more money.

"One of my clients told me that buying shares would be profitable," she recalls. She did not waste any time. In 2009, she bought five shares in Sheger City Meter Taxi S.C. This was one of the companies under formation at the time, through the initial public offering of shares, each for 1,000 Br. Established in 2008, Sheger City Meter Taxi continued to sell shares until recently.

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