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ERITREA’S MISSING $1 BILLION There is over 1 billion dollar missing from the revenue of the Bisha gold mine since 2011. Where did all that money go? Who is managing the nations finance and how? It


There is over 1 billion dollar missing from the revenue of the Bisha gold mine since 2011. Where did all that money go? Who is managing the nations finance and how? It is public finance but it seems it’s on the hands of few. Who is benefiting from the revenues of Eritrean mining boom apart from the few parasites?

Couple of years ago we were bamboozled by the PFDJ ruling party how life will change in Eritrea with the mining boom and how prosperous Eritrea will become…. In fact the regime was bragging about how Eritrea became one of the fastest growing economies of the world with 11 to 17 % growth showing since 2011.

According to figures published by the Canada-based mining company,  Nevsun recorded revenues of $548 million from its Eritrean gold heist operations in 2011 and around $400 million for the year of 2012 (Gold was slightly down). The total revenues accruing to the Government of Eritrea are unknown. However, under the terms of Nevsun’s contract, an estimated 14.1 tons of ore were transferred to the Eritrean authorities in 2011 and 2012, potentially representing over $900 million on sales alone. It’s all opaque but let’s takes Nevsun’s figures at face value for the sake examination.

The Government of Eritrea’s share

The GoE earned over $900 million in cash flow from the Bisha gold mining in the last two years alone. It is a lot of money for any country live alone poor little Eritrea, where did it go? Who is responsible for managing of public finances?

Where on earth is all that money? There is almost 1billion dollar missing so far, so where did it go, on which bank is the cash stashed and by whom?

The GoE never released any financial report regarding the mining revenues; if it wasn’t for Nevsun’s reports we would have no clue regarding the mining revenues. By the way stakeholders and investors of Nevsun demand mandatory and regular release of reports regarding the company’s operations. After all without rigorous enforcement of transparency and checks there would not be any viable business to talk about.

Absolute power corrupts absolutely

So again the GoE said Eritrea is registering 11% to 17% growth each year since 2011, the question is who is benefiting from the double digit economic growth? Poverty and hardship has been worsening in Eritrea while the economy was and is seemingly growing by huge double digit percentages. IT IS ABSURED!

All we hear and see now days is lack of everything in Eritrea; lack of food and water, lack of health services and supply of medicine, lack of energy, lack of information and education…Almost every essential and nonessential item is under rationing in Eritrea; with birthing air as the only exception that is not rationed yet, may be even that will be rationed in the future, the way the country is going nothing would surprise me anymore.

Supporting foreign causes

There are many individuals and groups under the Government of Eritrea’s payroll. One of them is off course Dr. Berhanu Nega the chairman of the Ethiopian opposition group Ginbot 7 who recently admitted on record to have over $500,000 budget allocated to his organisation by the so called government of Eritrea. The UN monitoring group on Eritrea and Somalia has also documented many groups and individual directly or indirectly supported by Eritrea. Please check references 1, 2 and 3.

How low can Eritrea stoop? Well our corrupt rulers just showed us how low they are prepared to stoop; very, very low indeed.  Just look at the “smuggling and trafficking business” orchestrated by non-other than the so called GoE. The evidence is overwhelming and undeniable. In unprecedented scale, they are in the “business” of kidnapping and smuggling of Eritreans with all their limbs tainted in blood.

The complete takeover

“If you check all those PFDJ companies are licensed with individual’s name which allows them have complete grip of the finance and monopoly of every firm in the country. So whether you name it Seghen Construction Company, Red sea, Bisha, Shipping, GEDEC, Harena boat assembly, and many more to about 78 in number. Each manager is allowed to deal with their companies in full authority to personalize their power and even to level of putting their money abroad.So the collection of Eritrean resources by PFDJ appointed individuals has been going on for decades and its impact will be crystal clear when DIA is removed.” Wed Fayd

Parasite Isaias Afewerki (PIA) did work hard; he worked hard not for you or anybody else but for himself.  Whatever his motivations are he is an evil genius and we have to recognize that reality. Currently as I write this article PIA is the self-made head of the nation, head of the church, mosque, and chief justice.  He literally controls all the companies that somehow are still running as well as off course every soul living inside his state. So that is an absolute corruption for you, it can NOT get any worse than this, it’s a complete takeover and absolute power and corruption.

Not everybody is under ration or in poverty in Eritrea; the majority are under extreme poverty line but few blood sucking parasitic individuals or cliques are living life of riches and extravaganza, you may not see it with your own eyes for now but trust me they are living lavish life style at the expense the rest of us. While our children, brother and sisters work slavishly with no pay and zero human right, those parasites are living on the blood and sweet of our people.

Inherently corrupt system cannot fight corruption it is impossible. Corrupt systems fighting corruption is like criminals enforcing laws that will put them in jail, it’s unheard of.

Our people are considered resource that can be exploited at any given time for any purpose. They work for free; they have no rights what so ever, they are treated like slaves because they are slaves according to the head slave master and parasite Isaias Afewerki.

To oppose corruption in government is the highest obligation of patriotism. It is duty of the youth to challenge corruption, to fight corruption and eradicate corruption.

There is no legal government in Eritrea but an illegal mafia organisation sucking the blood out of our nation. Just because they claim to be authority and dressed like authority does not make them an authority. They have no legal bases to be authority; they are simply bunch of parasitic criminals dressed in smart closing for the sole purpose of power.











Eng. Philmon Yohannes


Review overview
  • Nahom July 22, 2013

    DIA and his Kisha are the only creatures that can solve this puzzle.

  • New Generation ( Generation "Y" ) July 22, 2013

    It is a good analysis . Considering Eritrean an annual economic growth rate of 11-17 % the livelihood of Eritreans should have been improved somehow.

    But the opposite is happening on the ground . This really indicates there is no accountability , transparency and responsibility from the Government side.

    No annual budget and financial accountability from the government . Day in and out they talk about the Ethiopian and American aggression towards Eritrea . What a fake party Eritrea has ?

    I am sure the mad dog has a capital of > 1 billion dollars . And followers of mad dog will always claim that he is clean of any corruption .

    Eritrean situation is very tragic.

    • PHY July 22, 2013

      NewGeneration, indeed we have a tragic case on our hand; the old generation is killing the new generation quite frankly. Do not want to over generalize but what can I say the reality on the ground speaks volume. It resembles hen eating its own egg; this people are starving our children and enslaving the new generation so that they can live their disgusting lives.

      • NEW HOPE ERITREA July 22, 2013

        PHY ,

        Becareful that is the message I have been shouting forever and the old generation are not amused .ACTUALLY THEY CALLED ME wEYANE eTHIOPIAN ,nO ,NOT THE higdef ,THE OPPOSITION INDIVIDUALS THAT HATE iSAIAS.

        • ahmed saleh July 23, 2013

          Do we need another front of confrontation between old generation and young generation . If we said
          yes ; the winners will be OLD-EVILs and the YOUNG-EVILs .

  • Zeray July 22, 2013

    Dear Eng Philmon – Relatively speaking hoarding gold and stealing cash would be only considered a simple slap in the face, when you consider the crimes that are inflicted on Eritreans. Children are kidnapped and whisked away from the streets and their organs to be sold in the cruel world market. Thousands of youth are put to slave labor with no end in sight (if their sweat was to be quantified I am sure it would be in the billions). Thousands are thrown into dungeon without seeing a day in court. Etc.. Our problem is not the list, our problem is the system. The whole system of PFDJ must be rooted out to have any decent future in Eritrea. For this the people have to assert themselves, rise up and say enough is enough.

    • PHY July 22, 2013

      Hi Zeray, well said totally agree with what you’re saying.

  • Yerhiwo July 22, 2013

    Excellent article Eng. Philmon! As we know it, Kisha is a minister of finance, treasury, commerce and everything that deals with economy. TV hasot or EriTV do not show his face a lot or address him as a minister. This crook use to work in DC and he was known thief. A woman in 1993 in USA told the dictator that Kisha is responsible for the mismanagement of their collected funds (see the video).

    Poor Eritreans are working as slaves in their own land by the name of national service. These crooks from Tembien “Kisha, Wedi Berad and Monkey” are sucking the blood and Eritrean wealth. Just watch after Wedi Medhin Berad’s death or his arrest in Hague, you will see millions stashed in foreign banks.

    We have to make sure all these crooks and their families and relatives did not get the money from foreign banks.
    Wake up brave Eritreans….finish the dictator and save Eritrean people and wealth!! What you need is one brave man to kill one of these crooks while they walk on the streets of Asmara or while they enjoy drinks with our women!

  • Said July 22, 2013

    a great article, wake up Eritrean. against dictator.

    • The Truth July 23, 2013

      How is this a great article? It doesn’t produce any sort of evidence to substantiate its claims. Are the readers here at Assenna so daft and naive to believe such pitiful reports? This speaks volumes of your intelligence and disconnect from reality.

      • TwoWayStreet July 23, 2013

        The Truth…
        Can you please tell us how much your government received from the bisha mining, and how was that money spent, with EVDENCE (to borrow your word). I am sure you can not provide me with facts because that is a PFDJ secret, and you are one of those who does not question PFDJ decisions, you are one of those who say “PFDJ or Issayas know what he is doing, what is best for me”. There is no transparency, so you are supposed to believe what you are told by Eri TV. So who ie being NAIVE here?

        • fetsum abrahamt July 23, 2013

          Twoway and others;
          Anyone interested to know how much money Eritrea has been making can precisely get it from NEVSUNG (the Bisha contractor). It is public information that u can read from by searching the web. There is no doubt that that much money has been made from Bisha if not more. To my recollection, around 478000 ounces of Gold/year was the estimate of Bisha Gold production for at least the next ten tears since 2010.It costs hundreds of dollars for an ounce of gold and you can research and figure it out easily.

  • NEW HOPE ERITREA July 22, 2013


    • ababua July 23, 2013


    • Tes July 23, 2013

      Do you mean your government? I don’t thing any one with right mind call them govenment.

  • NEW HOPE ERITREA July 22, 2013


    I have one request myself ,please if you could,give me the History of the struggle .
    why ,when,how, so that our friendly debate could have educating effect for all .Please ,IT WOULD MEAN A LOT TO ME & THE NEW GENERATION.

    Bless you Genet

    I respect people that make me think & you do .

    • Samuel July 23, 2013

      I have seen you quote from the bible many times and I wonder if you could make sense by reading Mat 6:10 and Dan 2:44

      • Zaul July 23, 2013

        Matthew 6:10
        King James Version (KJV)
        10 Thy kingdom come, Thy will be done in earth, as it is in heaven.

        Daniel 2:44
        English Standard Version (ESV)
        44 And in the days of those kings the God of heaven will set up a kingdom that shall never be destroyed, nor shall the kingdom be left to another people. It shall break in pieces all these kingdoms and bring them to an end, and it shall stand forever,

    • ababua July 23, 2013


    • Genet July 23, 2013

      New… Eritrea
      I don’t think it will make any difference, if I or any one else would give you any history about Eritrea’s struggle for freedome. You seems to have your own version of history and you are stuck in the 70s and 60s. I keep saying to you that you need to let the past go and come to the 21st century. Stop being a hate mongering. You post is indicating that you want to keep reminding the Eritrean and Ethiopian how we hate eachohter. Why? don’t you want for those two people to live in peace? Who do you hate more Eritrean people or Ethiopina people? What you are doing is wrong.

      FYI. This section of the forum is about missing money in Eritrea. Please focus. I am beginning to doubt about your motives.

      • HGDEF July 23, 2013

        This guy is not new to Assenna blogg. He has been here almost since the launch of Assenna under different nick names with the same mission. He has been insulting Eritrea, Eritreans, our history, our culture,our identity. Some times he insults one group of Eritreans, other times others. He insults all Eritreans, all regions, all Ethnic groups, all religions some times sytematically and some times openly. Ofcourse HGDEF and Isaias must be there as a cover up.It is a sad reality that everyone has specialized in criticizing HGDEF but can’t see people who have other motives as long as they sing “down down Isaias”.

        What kind of Eritrean is one who insults everything which makes some one an Eritrean? I have never believed that he is an Eritrean. For me there is no doubt about who this man is. But for those who are missing their aunt Ethiopia and do not care about their mother Eritrea let them enjoy his jocks about Eritrea and Eritreans. “እንተ ኣነ ግን ሽምጢ ሰበይተይ ሒዙ ዝዋዘየኒ ኣይፈቱን”.

  • ahmed saleh July 23, 2013

    I think Issayas has some kind of mental illness like ” schizophrenia ‘ . Because his ability of thinking
    always had been the same as he was in Sahel with EPLF . He kept himself hostage on that old box not to
    realize that the country and it’s people are counting on him to improve their living condition .
    And that is why is the country left without no accountability . Even speaking on this subject in discussion
    we couldn’t look for answers from an official of ministry of finance except either to ISSAYAS or KISHA .

    • Genet July 23, 2013

      “I think Isayas has some kind of mental illness like “Schizophrenia””
      You think???
      He is a classic text book case of SCHIZOPHRENIA.

  • Tes July 23, 2013

    It is sad to see a promising nation to turn in to hell on earth because of handsome individuals. Even though Issayas, Kisha and monkey are the shakers and movers of the embezzlement there are many Eritreans driven by greed joining with them to bleed the nation. We had enough horror story we need to act and unifying our effort to dismantle the crooks in asmara. $1 billion in two years is a huge amount and if we don’t put a break it will spiral out of control soon. The nation once promising will be disintegrate in to a land of lawless gangs. We need to look into ourselves rather than outsiders. All our ills originate from inside it is not from out side. All the talk to divert blame nothing but a sign of our weakness. If we are not open and discuss our strength and weakness and deal with how to resolve our problem then we will continuous analysis symptoms for ever and blaming outsiders. By now unless a brainless individual every one knows there is no budget or accountability compounded by corruption at the highest level. When the highest messenger hold seminar in london last week he was asked why there is no supply of water and electricity etc. His answer was the usual empty promise Niserhalu Alena ( we are working on it). And the goons applauded to his answer. God safe Eritrea!

  • haile July 23, 2013

    we will not see a single dime from this money, infact while the gold and money is being transferred the mafia junta are distracting the people in asmara by cutting eletric power and military tryning, by inventing the people’s army. all is designed to distract the attention from the money and gold being transfered by flights in the middle of the night.