Capital Ethiopia Newspaper

New Trade Minster promises Access buyers relief  

The recently appointed State Minister of Trade, Assed Ziad, promised Access Real Estate home buyers that he would solve their problems as soon as possible.

Home buyers are asking the Addis Ababa City Administration to include Access’ plots under the city land bank.  Sources told Capital that a couple of weeks ago home buyers who were upset about delays met with the recently appointed Trade Minister. He promised to accelerate the solution ordered by the Prime Minister.

According to sources, the home buyers are expected to form an association under the Addis Ababa City Administration Trade and Industry Development Bureau to receive plots previously owned by Access or its affiliates.

Last March, the main committee formed by the Prime Minister decided that the city Land Development and Management Bureau should include the company’s plots in its land bank.

According to the main committee, which was chaired by Mekuria Haile and now by Bekele, the plots will be transferred to home buyers who will be allowed to build homes on them. These owners will be included under a special association,

Home buyers that Capital interviewed said that the process takes a lot of time.

“As per the decision the home buyers have asked the Trade Bureau to form the association, the department that is responsible for forming an association under the bureau stated that it needs further classification form the mayor’s office to form this type of organization,” sources said.

“The department disclosed that it is waiting for approval from the mayor’s office to form the association,” home buyers who asked for anonymity told Capital.

Capital asked Demsash Getachew, General Manager of the state owned audit firm, Audit Service Corporation that is under the Office of the Federal Auditor General, if the firm had finished auditing the company.

“As per the agreement it is confidential,” Demsash said.

The audit report is one of the crucial steps for including the plots under the city land bank.

Capital attempted to meet with the deputy general manger of the city administration but was unsuccessful.

Over 2,500 home buyers are waiting for their house. The fate of the company is also another issue that is being considered by the committee. The company collected over 1.5 billion birr from homebuyers eight years ago, but never transferred a single house.

The government got involved in the issue when the problem became serious.