A forensic document analysis has cast doubt on the authenticity of a key signature in a high-stakes ownership dispute involving BGI Ethiopia Plc, a leading brewery in the country. The investigation, conducted by Pro Script, a forensic document analysis firm, focused on signatures attributed to Zewdnesh Getahun in a 2001 meeting minutes document.

Zewdnesh has filed a lawsuit against BGI Ethiopia for over 8 million birr, alleging that her 27% ownership stake was illegally transferred through a forged document. The forensic report compared the questionable signatures with sample signatures from Zewdnesh dating back to 2003 and up to 2024.

The forensic examiner identified significant “handwriting differences” between the disputed signatures and the known samples. These discrepancies included variations in letter arrangement, attachment, shape, size, and writing style. While some similarities were noted, such as inclination and alignment, they were deemed insufficient to establish authenticity.

However, the analysis faced limitations due to the use of copied documents and differences in writing styles—Amharic type in the samples versus cursive Western script in the disputed document. Additionally, the sample signatures were written at different times, with the earliest sample dated two years after the disputed signature.

Considering these findings and limitations, the forensic examiner concluded that the evidence suggests the person who wrote the sample signatures was likely not the same person who wrote the questionable signatures in the 2001 meeting minutes. This analysis could prove pivotal in the ongoing legal battle.

Zewdnesh claims she co-founded BGI Ethiopia and that her shares were illegally transferred after Brasseries International Holding Limited (BIH) acquired shares in the company. Her lawsuit seeks recognition of his ownership rights and payment of unpaid dividends.

The dispute has sparked a heated legal debate, with BGI Ethiopia arguing that the case is time-barred under contract law, while Zewdnesh’s team contends it is a matter of property rights, not subject to the same time limits. The case continues to unfold in the Federal First Instance Court, with significant implications for BGI Ethiopia.

A serious conflict has emerged between the Addis Ababa Revenue Bureau and the country’s accounting and auditing professionals following allegations that hundreds of accountants and auditors were involved in underreporting and concealing over 10.6 billion birr in revenue, according to experts and professional associations.

On April 1, the Revenue Bureau announced the results of a preliminary audit covering 36,729 tax records from the 2016 EC fiscal year. The audit reportedly uncovered attempts by some taxpayers to underestimate income and submit inaccurate financial reports, potentially causing significant revenue loss to the government. The Bureau claimed it averted damage to public interests by identifying concealed revenue totaling 10.65 billion birr.

Following these findings, the Bureau referred a list of 823 accountants and auditors to the Accounting and Auditing Board of Ethiopia (AABE) for disciplinary action. The measures range from written warnings to license revocations under the authority of Tax Administration Proclamation No. 983/2008. Among those flagged, 334 professionals allegedly submitted accounting records with discrepancies exceeding 75 percent in reported income. The Bureau also indicated that individuals practicing without professional licenses would face similar scrutiny.

The announcement has sparked strong backlash from the accounting community. In a joint statement, the Ethiopian Professional Association of Accountants and Auditors, the Association of External Auditors, and the Accounting Society of Ethiopia condemned the Bureau’s public disclosure of the allegations, arguing it undermines the profession’s credibility and damages public trust in financial reporting.

While the associations expressed willingness to cooperate with the Bureau’s request for investigation, they criticized the wide media dissemination of the information as premature and detrimental. They called on the Revenue Bureau to retract the public statements and remove related content from all media platforms.

The professional bodies also urged the AABE to conduct a thorough investigation into the allegations and publicly share its findings. They warned that the negative publicity could discourage clients from engaging accounting professionals and demoralize practitioners, potentially leading to attrition in a sector already facing a shortage of qualified experts.

“The accounting and auditing profession is critical for ensuring transparency and accountability in Ethiopia’s economy,” the associations said. “This situation risks eroding investor confidence at a time when the country is implementing major economic reforms, including the launch of capital markets.”

The groups further criticized the Bureau for failing to engage in adequate dialogue with professionals before making the accusations public. They stressed that unilateral investigations and announcements without due process violate principles of fairness and professional respect.

The Accounting and Auditing Board of Ethiopia also expressed concern over the premature release of information before completing its inquiry, emphasizing the need for due process and giving professionals the opportunity to respond.

In an effort to resolve the dispute, the associations have called for urgent dialogue between the Revenue Bureau and representatives of accounting and auditing professionals. They warned that continued confrontational actions could seriously harm the profession and negatively impact Ethiopia’s broader economic development.

The Addis Ababa Revenue Bureau recently established a Quality Assurance Unit to re-examine tax audit decisions and improve accountability, signaling a broader push for tax compliance and transparency. However, experts say balancing enforcement with professional collaboration will be key to sustaining trust and effectiveness in Ethiopia’s tax and financial reporting systems.

The Turkish Forwarding and Logistics Association (UTIKAD), a prominent logistics association and a vital sector lobbying group, has signed a cooperation agreement with Ethiopia’s FIATA-member association, the Ethiopian Freight Forwarders and Shipping Agents Association (EFFSAA).

This agreement was formalized during a side event at the International Civil Aviation Organization’s (ICAO) Global Air Cargo Summit in Antalya, Türkiye, on April 9.

The partnership aims to strengthen the ties between the two associations and enhance collaboration in the transportation sectors of both countries.

Under the terms of the new agreement, UTIKAD and EFFSAA will collaborate to develop logistics expertise and foster stronger industry relations.

EFFSAA Board of Directors President Dawit Woubishet stated that the protocol will assist Ethiopian logistics professionals in expanding their skills. “UTIKAD is well-known for its robust training programs and expertise in the sector,” he remarked.

The ICAO Global Air Cargo Summit, the first of its kind in the organization’s 75-year history, provided a platform for industry leaders to discuss key logistics trends.

Dawit, who also serves as Chairperson of the Airfreight Institute at the International Federation of Freight Forwarders Associations (FIATA), presented Ethiopia’s progress in digitalizing its transport sector.

He emphasized the country’s advancements in e-commerce, which is significantly developing to serve the continent, as well as improvements in perishable cargo handling.

“This event was an opportunity to showcase our standards and identify areas where we need to collaborate with more digitally advanced partners,” Dawit explained.

In addition to the ICAO summit, which concluded on April 11, Dawit attended the IATA World Cargo Symposium in Dubai, the largest industry event with nearly 2,000 participants. A significant milestone was achieved at the symposium, with FIATA and IATA agreeing to enhance data exchange cooperation.

“This agreement will improve collaboration between airlines and freight forwarders in cargo handling,” Dawit said. “It also brings us closer to realizing FIATA’s ‘Air Cargo Global Program,’ which was launched during the 2023 meeting in Addis Ababa.”

Despite a surge in demand for skilled professionals across Ethiopia’s rapidly expanding financial sector, leading training provider Bruh Finance is grappling with significant barriers as it works to equip the workforce for a more competitive market.

The liberalization of Ethiopia’s financial industry and the entry of international players have heightened the need for qualified talent, particularly in insurance, banking, and capital markets. However, sector leaders warn that the supply of skilled professionals is not keeping pace with demand, threatening the sector’s ability to compete globally.

Bruh Finance, a key institution in Ethiopia’s financial training landscape, has made notable strides. In partnership with the Ethiopian Insurers Association and international bodies such as the Chartered Insurance Institute (CII) and the Chartered Institute for Securities & Investment (CISI), Bruh Finance has trained hundreds of professionals. Over 70 insurance workers recently completed a year-long CII certification, and a new diploma program is underway for 50 more, aimed at bridging the skills gap and meeting international standards.

“Our programs play a vital role in enhancing knowledge and raising industry standards,” said Getachew Beshawred, CEO of Bruh Finance. He emphasized that these initiatives are crucial as Ethiopia’s financial sector faces unprecedented competition and technological change.

Bruh Finance’s curriculum spans insurance, capital markets, asset management, and banking, with graduates moving into senior management, risk, compliance, and claims roles at both private and public institutions. The institution’s integrated approach combines local market understanding with international best practices, offering not just certifications but also board management training, strategy workshops, and executive study trips.

Yet, despite these successes, Bruh Finance and the broader sector face persistent obstacles. Regulatory fragmentation remains a major challenge, with overlapping mandates among agencies such as the Ethiopian Capital Market Authority (ECMA) and the National Bank of Ethiopia (NBE) causing uncertainty and delays in training programs. “Slow coordination and regulatory dispersal create uncertainty for training and operational timelines,” Getachew explained.

Another pressing issue is the shortage of qualified local trainers with practical expertise in areas like risk-based monitoring, management audits, and capital capacity modeling. The sector’s reliance on foreign trainers raises costs and limits sustainability. To address this, Bruh Finance is investing in training local trainers and expanding its digital and regional training infrastructure, including new centers in secondary cities like Hawassa.

The challenge is compounded by a lack of long-term workforce investment strategies among many organizations, which often send only a handful of employees for short-term courses rather than adopting comprehensive training plans. In response, Bruh Finance has introduced long-term lesson plans and organizational support models to align training with broader institutional goals.

Looking ahead, Bruh Finance aims to train more than 500 professionals annually, supported by expanded digital classrooms and scholarship partnerships. The institution is also launching Ethiopia’s first specialized training program for accountants in collaboration with the Insurance Association of Ethiopia and the London Institute of Accountants, addressing a critical shortage highlighted by the National Bank’s new guidelines.

As Ethiopia’s financial sector opens to global competition, Bruh Finance’s efforts to build a robust pipeline of skilled professionals are seen as essential for the industry’s modernization and resilience. “We strive to connect Addis Ababa with the rest of the world in everything that helps economic development,” said Getachew, reaffirming Bruh Finance’s commitment to raising standards and supporting Ethiopia’s economic ambitions.