Counterfeit Rice Scam Uncovered in Bobo-DioulassoIslamic Development Bank Pledges Continued Support for Ethiopia’s Development Initiatives

BOBO-DIOULASSO – The National Anti-Fraud Coordination in Bobo-Dioulasso has revealed a significant fraud operation involving counterfeit local rice. The fraud, exposed by the coordination’s sleuths, involves mislabeling and misrepresenting locally produced rice to deceive consumers. A substantial quantity of rice was seized in the operation, as detailed in a press conference held on Thursday, February 15, 2024, in the town of Sya.

According to Burkina Information Agency, the national anti-fraud coordinator, the operation led to the seizure of 1,641 50-kilogram bags of rice, valued at 47,743,000 CFA francs. The fraudulent activity involved purchasing local rice, particularly from Kénédougou, Léraba, and Comoé, and repackaging it in bags labeled as imported rice to inflate the selling price. This deception aimed to mislead consumers about the rice’s origin, falsely presenting it as imported to justify higher prices.

Furthermore, Dr. Kafando highlighted a second fraud case where rice labeled ‘sale prohibited’ and intended for school canteens was repackaged and sold on the market. This rice, obtained at significantly reduced costs through government efforts, was transferred into bags previously stamped, allowing it to be sold freely. An investigative team dispatched to Bama observed the repackaging of local rice into yellow ‘LIZO’ bags, a brand name closely resembling the Burmese rice brand ‘LIZA’. The packaging mimicked the LIZA brand’s characteristics, including a crown and three stars, to deceive consumers.

The investigations also uncovered 441 bags of 50 kg of school canteen rice, 901 empty ‘LIZO’ bags for repackaging, and 65 bags of 100 kg local rice from Banzon in the owner’s stock store. Additionally, another team intercepted a truck on the Bama-Bobo-Dioulasso route, carrying 321 bags of 50 kg ‘LIZO’ rice and 39 bags of school canteen rice.

Dr. Kafando affirmed that these practices harm the presidential initiative advocating for local production and consumption. The ‘Agropastoral and Fisheries Offensive 2023-2025’, a government investment, aims to make locally produced rice cheaper in the market. However, such fraudulent activities counteract these efforts by inflating local rice prices. Explaining the economic impact, Mr. Kafando noted that local rice costs 23,000 CFA francs per 50 kg bag, but when repackaged as ‘LIZO’ rice, it is sold for 24,000 CFA francs, yielding a fraudulent margin of 1,000 CFA francs.

This operation was successful due to the collaboration of patriotic Burkinabè citizens. Dr. Kafando reiterated the commitment to maintain pressure on fraudsters to minimize and neutralize fraud in all forms.

ADDIS ABABA – The Islamic Development Bank (IsDB) has reaffirmed its commitment to support Ethiopia in its developmental endeavors. The pledge came during a meeting between Ethiopia’s Finance Minister, Ahmed Shide, and IsDB President Dr. Muhammad Al Jasser, held on the sidelines of the 37th African Union Summit in Addis Ababa.

According to Ethiopian News Agency, the discussions centered around Ethiopia’s economic development activities, where Ahmed Shide highlighted the country’s progress despite various challenges. Shide emphasized Ethiopia’s leading role in the Horn of Africa Initiative and invited the Islamic Development Bank to join the initiative, underlining the importance of collaborative efforts in regional development.

Dr. Muhammad Al Jasser remarked on the natural partnership between Ethiopia and the IsDB, noting the bank’s support for 44 projects within Ethiopia. He confirmed the bank’s intention to continue its assistance, further strengthening the ties between the IsDB and Ethiopia.

At the conclusion of their talks, a grant financing agreement was signed to support humanitarian services, marking a tangible outcome of the meeting. The Islamic Development Bank, drawing on information from its own sources, highlighted discussions on enhancing cooperation through trade finance, scholarships, and capacity building in Islamic Finance.

In line with its commitment to support vulnerable communities in non-member countries, the IsDB Group also announced the signing of a Grant financing agreement with the Yetim Children Care Center (YCCC). This agreement aims to expand the orphan care center’s facilities, providing additional boarding and vocational training opportunities for orphans in Ethiopia, showcasing the bank’s dedicated support to social development projects in the country.