The Addis Ababa Investors Forum (AAIF) has issued a strong call for the government to take decisive and swift measures against criminal gangs operating under the guise of legitimate business, allegedly committing fraud, robbery, and abuse—particularly targeting the country’s youth.
Ashenafi Muse, President of the Forum, condemned these groups for defrauding citizens and tarnishing the reputation of genuine investors working toward Ethiopia’s economic development. “While the vast majority of investors and business community contribute constructively, a small but unscrupulous minority exploits legal frameworks to engage in illegal business activities,” he said.
AAIF highlighted how these criminal enterprises often lure young Ethiopians, who represent the hope and engine of the country’s growth, with deceptive schemes—ranging from false real estate offers and purported car imports to fraudulent promises of lucrative opportunities abroad. Victims, many drawn in by celebrity endorsements or misleading advertisements, often lose their savings and assets, sometimes leading to deeper poverty or even illegal migration attempts.
The forum expressed particular concern about scams involving religious institutions’ sanctity and the extensive use of media campaigns that fabricate unrealistic hopes among the public, even falsely displaying endorsements from government officials and ambassadors to build trust.
Though refraining from naming specific entities, AAIF warned it may pursue legal action against perpetrators and urged the government to also investigate and sanction any officials shielding these fraudulent actors.
“The actions of these deceptive groups are damaging public trust in the business community and disrupting normal trade systems,” Ashenafi Muse stated. He described the groups as dangerous networks with local and abroad agendas that pose a threat to national security if not stopped promptly.
The AAIF called on relevant government bodies to cooperate closely with the public to dismantle these criminal operations and protect honest investors and citizens from further harm.
