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In its latest meeting on Thursday June 22, the main committee, chaired by Bekele Bulado (PhD), Minister of Trade, established to find a solution to the turmoil of Access Real Estate and its home buyers passed resolutions after looking at a report from the Audit Services Corporation.
Sources close to the issue told Capital that the resolutions which need further measures or assessments will be transferred to Federal Police to evaluate the crimes or look into corruption.
The land issue will be also the other finding the Addis Ababa City Administration should clarify according to the committee.
Recently the city administration included lands that were under Access or affiliates under the city land bank.
Sources who refused to disclose the value stated on the audit finding said that seven organizations and 12 individuals are identified as responsible for refunding the finance that should be managed by the real estate company. However the identity of the organizations or individuals was not mentioned.
The 40 page audit report was submitted to the main committee this March.
One of the decisions passed in the latest meeting was the process of establishing a legal housing association, according to sources.
The main committee and its technical committee was established by the decision of the Prime Minister to find solution for the dispute between home buyers and Access Real Estate SC, which was established by Ermias Amelga, who was also the first CEO and Board Chairman of the company.
Ermias had been out of the country for almost two years since the crisis occurred but he returned to the country to provide a solution as per the guarantee that it got from the government. However he could not come to agreement with the board.
Currently Ermias, who was also a major shareholder in the company, has not had shares in Access since Oromia’s regional court ordered Hussein Idris to take 2,000 shares with 1,000 birr share value that Ermias owned at the company to settle a payment that Hussein gave to Ermias a few years ago.
Over 2,000 homebuyers purchased houses from Access with some having made advance payments in full, but the developer did not deliver a single house to those buyers over the past nine years.
On Friday June 23, the home buyers main committee, and the board of the company met with media to brief them on their recent activity.
They said that things have not gone as expected because the problem is very complicated and the Audit Services report was delayed.
They expressed their hope that problems will be solved in the near future.
The main committee is comprised government officials with Ministry of Trade, Addis Ababa City Administration, Ministry of Urban Development and Housing, Federal Attorney General, home buyers main committee and Access.