Ethiopian Reinsurance posts gross profit of 220 mln Birr

Ethiopian Reinsurance posts gross profit of 220 mln Birr

Ethiopian Reinsurance Share Company (Ethiopian Re) said Thursday that it has registered a gross profit of 220 million Birr in the concluded fiscal year on June 30, 2021. The registered profit is higher than previous year’s performance by 34 million Birr, said Hailemariam Assefa, Chairperson of the Board of Directors at Ethiopian Reinsurance Share Company…

Ethiopian Airlines became fourth-largest global airline for its destinations

Ethiopian Airlines became fourth-largest global airline for its destinations

Ethiopian Airlines, Africa’s leading airline, has achieved the fourth rank in terms of the largest number of countries served. The rank has been given according to their number of destinations before the Covid-19 pandemic disrupted the aviation industry. Ethiopian has expanded its network across 81 countries, celebrating 75 years of excellent services in 2021. The…

Nyala Insurance launches Diaspora Special product

Nyala Insurance launches Diaspora Special product

In a view to provide insurance covers to Ethiopian nationals and Ethiopian descent diaspora, who are permanently residing outside of the country, Nyala Insurance S.C. (NISCO) announced that it has launched a new insurance product dubbed “Diaspora Special Assistance”. The new product which is to be realized in collaboration with the world’s largest reinsurance groups…

Ethio Telecom discounts 51% service rate for homecoming diaspora

Ethio Telecom discounts 51% service rate for homecoming diaspora

Ethiopia Telecom announced that it has discounted a 51% rate on its services for the home coming Ethiopian diaspora. Preparatory activities to welcome the diaspora are in progress. Hotels and transport service providers are working in a special manner to host the Diaspora, including 30 percent discount for them. Prime Minister Abiy Ahmed (PhD) invited…

Purpose Black receives 400 hectare of land as it launches franchise model

Purpose Black receives 400 hectare of land as it launches franchise model

Purpose Black ETH Training, an institution that mainly intends to solve economic problems of the black people, has launched a unique franchise concept dubbed “Qeleb Kegeberew Shareholder Franchise”. As part of the new scheme, the company has received 400 hectare of land at Arba Minch town from Gamo Gofa Zone that will be used to…

Bank of Abyssinia posts sharp rise in pre-tax profits

Bank of Abyssinia posts sharp rise in pre-tax profits

Bank of Abyssinia (BoA) has posted a sharp rise in gross profit to 2.05 billion Birr in the concluded fiscal year in June 2021, which registered an increment of 90 percent compared to the previous year performance. BoA conducted its 25th annual regular shareholders general meeting on Thursday at Inter Luxury Hotel. “Our Bank has…

Leather export earns Ethiopia $19 mln in five-months

Leather export earns Ethiopia $19 mln in five-months

The Leather Development Institute (LIDI) said that Ethiopia has earned $19 million from the export of leather products over the last five months of the 2021/22 fiscal year. Dagnachew Shiferaw, Director-General of LIDI, said in a press conference on Wednesday that plan has been set to garner $90 million in the current fiscal year. Also,…

The Insurance Guru speaks out

The Insurance Guru speaks out

  Eyessuswork Zafu, the insurance guru is a Chairperson of the Board for Hibret Bank S.C. He was a founder and Chairperson of Hibret Insurance S.C. He speaks on the challenges, prospects and competitiveness of the insurance industry to Kaleyesus Bekele of Origins Media, excerpts;   Insurance business was first introduced to Ethiopia indirectly through…

BRIDGES launches digitalization of labor supply, matching services in Bole Lemi Industrial Parks

BRIDGES launches digitalization of labor supply, matching services in Bole Lemi Industrial Parks

First Consult, the main implementer of the BRIDGES Program, which is a five-year initiative aims to create employment opportunities for young women and men, has launched providing services of digitalization of labor supply and matching database at Bole Lemi Industrial Park. The program is initiated by the Mastercard Foundation. It will be implemented until 2024…