The Swedish involved in corruption in Ethiopia

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.