Ethiopia: Saygin Dima Textile On the Brink of Collapse

Initially a joint venture between Turkish investors and the State, Saygin now faces auction and a court charge after full acquisition by the investor

The Commercial Bank of Ethiopia (CBE) is to auction Saygin Dima Textile S.C. after the company failed to honour its loan obligations. News of the auction comes as the company is already struggling to pay 625 million Br it owes to the Ministry of Public Enterprises.

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