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Tuesday, 2 February 2010

Dedebit Credit and Savings Institute (DECSI) in Ethiopia

Tedla Asfaw


I read on the (Feb. 2) an article wrote by Hio Kyeng Lee, "Who is Who in Microfinance : Dedebit Credit and Savings Institute ( DECSI ) in Ethiopia ". However, the source of the initial capital for this scheme was not documented accurately. The  Relief Society of Tigray (REST), the development arm of Tigray People Liberation Front (TPLF) and its economic empire, Endowment Fund For Relief and Rehabilitation of Tigray (EFFORT) are inseparable. These  establishments were built during the Ethiopian famine twenty five years ago in 1985 using food aid, money and other goods sent to Ethiopia according to insiders eyewitness account.

Tigray People Liberation Front (TPLF) after it overthrow the communist regime of Mengsitu Haile Mariam in 1991 confiscated also many government owned properties, houses, factories and put it under Endowment Fund For Rehabilitation of Tigray (EFFORT) and the sole capital of DECSI  private funds is none other than the ruling TPLF led by Meles Zenawi. Individual participation is very limited to members of TPLF and discriminatory to many Ethiopians.

The Norwegian Institute of International Affairs and other donors are also giving aid to DECSI according to Mr. Lee report. What bothers  me is  these foreign countries wanted to look the other way and accepted the looting empire of TPLF as a legitimate financial establishment. I can assure you that similar looting financial establishment can also be born in the middle of devastation in Haiti right now if the west wanted to look the other way like they have done in Ethiopia for the  last two decades. This is not hard work it is pure robbery.