32 Un-Identified Eritreans reported to be owners of a combined over Half Billion US Dollars in HSBC Bank in Switzerland

32 Un-Identified Eritreans reported to be owners of a combined over Half Billion US Dollars in HSBC Bank in Switzerland

Radio Erena: 11 February 2015


Thirty Two Eritreans have been revealed to bank over half billion US Dollars combined at a Swiss bank of HSBC.

Although the ownership of the secrete accounts has been exposed, the names of the individuals have not been made public.

According to the leaked documents of a list of the bank’s clients from 203 nations, Eritrea is ranked 53rd among the countries in the world and first among the East African countries with a total of 699.6 million US dollars.


Based on the documents, two of the 32 Eritreans are reported to have saved up to $450 and $90 million US dollars, respectively. The remaining 30 Eritreans are believed to have saved a combined $155 million US dollars.

Many speculate that the money could be from the sales profit of Gold the Bisha Gold resources excavation project and that the accounts might be registered to the Eritrean government leaders and leaders of the only party in the country – the PFDJ.

Several Eritreans associate this to corruptions by the Eritrean leaders with over half billion dollars worth secrete accounts belonging to 32 individuals residing in Eritrea – a country with an average of $200 US dollars GDP per capita.

The global anti corruption monitoring group – Transparency International believes that the money could be related to corruptions, especially, the money in the accounts owned by world government leaders.

Based on the HSBC document, among the countries with combined total savings, Switzerland is ranked first with $31.2 billion US dollars; Great Britain takes second place with $21.7 billion US dollars, Venezuela is third with $14.8 billion US dollars, USA comes fourth place with $13.4 billion US dollars, and France is in fifth place with a combined total of $12.5 billion US dollars.

One of the second largest banks in the world, HSBC was founded in Great Britain with branches in 84 counties is reported to have over 60 million clients.

Eritrea is ranked 111th amongst the 203 nations in the world which have higher number of clients.

Although the leaked documents indicate the amount of savings is reported to be made between the years of 1981 and 2006, many believe the amount of money and client number could be grown from 2006 till date.