The Swedish involved in corruption in
Ethiopia
Swedfund trapped by its partner
Some Swedish investors are among the collateral damage from the recent wave of anti-
corruption arrests in Addis Ababa.
Several heads of companies are among the 54 people recently arrested and put on trial at
the behest of the Ethiopian Ethics & Anti Corruption Commission (EACC). One of
them is Fikru Maru, a Swede of Ethiopian descent, who is the founder and CEO of the
Addis Cardiac Hospital (ACH). He is accused of tax evasion, illegally importing medical
equipment and corruption of a government official. After his arrest, the investigators
obtained permission from the Courts to freeze the bank accounts of his companies and the
hospital. This places his partners in an awkward position, because the hospital is a joint
venture between Fikmar Medical AB (Maru’s Swedish company), the Swedish firm Octopus
Medical AB, the Swedish doctor Patrik Hjalmarsson and the public body Swedfund which
had stumped up a portion of the funds to set up the venture. The hospital is already
finding it difficult to continue functioning because its bank account has been frozen, but it
could also be condemned to a hefty fine if Fikru Maru is found guilty.
Ethiopia
Swedfund trapped by its partner
Some Swedish investors are among the collateral damage from the recent wave of anti-
corruption arrests in Addis Ababa.
Several heads of companies are among the 54 people recently arrested and put on trial at
the behest of the Ethiopian Ethics & Anti Corruption Commission (EACC). One of
them is Fikru Maru, a Swede of Ethiopian descent, who is the founder and CEO of the
Addis Cardiac Hospital (ACH). He is accused of tax evasion, illegally importing medical
equipment and corruption of a government official. After his arrest, the investigators
obtained permission from the Courts to freeze the bank accounts of his companies and the
hospital. This places his partners in an awkward position, because the hospital is a joint
venture between Fikmar Medical AB (Maru’s Swedish company), the Swedish firm Octopus
Medical AB, the Swedish doctor Patrik Hjalmarsson and the public body Swedfund which
had stumped up a portion of the funds to set up the venture. The hospital is already
finding it difficult to continue functioning because its bank account has been frozen, but it
could also be condemned to a hefty fine if Fikru Maru is found guilty.