Police have arrested top heads of Ethio Telecom and the Commercial Bank of Ethiopia (CBE) on suspicion of corruption.
The suspects include Abraham Guade, deputy manager and head of Sourcing and Facility Division of Ethio Telecom as well as Ephrem Mekuria, head of Communications of the Commercial Bank of Ethiopia (CBE).
Both suspects appeared before the court on Wednesday.
Abraham was arrested on suspicion of corruption and causing a loss of government revenue after favoring a tour agency called Kereyou Tour and Travel to rent vehicles to Ethio Telecom with fake manufacturing date and out of the initial deal.
According to police, the telecom official deliberately allowed vehicles manufactured before 2000 to pass the inspection pretending they were manufactured on and after 2000.
In doing so, Ethio Telecom rented 67 vehicles from the agency but police did not mention the amount of loss incurred.
The telecom official was arrested on December 27, 2016, and appeared at the second criminal bench of the federal high court yesterday. (FBC)