Ethiopia: US SEC acts on diaspora bonds
Issue 326
- 24 Jun 2016
| 1 minute read
The US Securities and Exchange Commission (SEC) on 8 June announced that Ethiopian Electric Power (EEP) had agreed to pay nearly $6.5m to settle charges that it violated US securities laws by failing to register bonds sold to Ethiopians in the US to fund construction of the 6GW Grand Renaissance Dam.The SEC said EEP had held a series of public roadshows in major cities across the US and marketed the bonds on the website of the Ethiopian embassy as well as through radio and television advertising aimed at Ethiopians living in the US.
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