Bunna insurance registers 36.23 mln Birr profit

Bunna insurance registers 36.23 mln Birr profit

Bunna Insurance S.C. has netted 36.23 million Birr profit in the just concluded fiscal year of 2020/2021. The insurance company initially planned to generate a profit of 22.75 million Birr. Meanwhile, the insurance company has collected a premium of 335.1 million Birr in the stated fiscal year. In terms of expenses, the company has disbursed…

YMG & Habesha Gold mining continue investing in Ethiopia

YMG & Habesha Gold mining continue investing in Ethiopia

YMG and Habesha Gold Mining companies, which is owned by Israeli investors, held a discussion with Lelise Neme, Ethiopian Investment Commissioner and Temesgen Tilahun, Deputy Commissioner of Ethiopian Investment Commission (EIC), respectively, updated them about the progress of their investment and promised to promote the investment to other peer Israeli investors.

Dashen Banks appoints new senior officials

Dashen Banks appoints new senior officials

Following the introduction of the Bank’s revised strategic plan and a revamped organizational restructuring as well as departure of two senior officials to newly formed banks; Dashen Bank announced that it has appointed new senior officials on various positions. With a long history of nurturing talent with its trademark ‘growing own tree’ principle, Dashen filled…

E-single window service execution reduces $70 mln administrative cost

E-single window service execution reduces $70 mln administrative cost

The Ethiopian electronic-single window service program announced Thursday that through the implementation of the program for almost a year, it has reduced an administrative cost amounting $70 million. The old manual system was made physical appearance of the client mandatory. It also used to duplicate processes. Previously, burdensome documentary requirements, high levels of physical inspection…

Ethiopia earns $1.28 bln in four months

Ethiopia earns $1.28 bln in four months

Ministry of Trade and Regional Integration announced Wednesday that Ethiopia has earned $1.28 billion from the export of different commodities in four months. The Ministry initially planned to secure $1.31 billion. Agriculture and manufacturing products and service sector activities generated an income of $904, $157 and $188 million, respectively, according to Gebremeskel Challa, Minister of…

Hibret Bank reports 1.44 bln Birr profit in 2020/2021 fiscal year

Hibret Bank reports 1.44 bln Birr profit in 2020/2021 fiscal year

Hibret Bank has reported a profit of 1.44 billion Birr before tax in the concluded fiscal year of 2020/2021. The profit has increased by 309.49 million or by 27.4 percent from that of the previous fiscal year performance, according to Hibret’s annual report. With regard to assets, the Bank’s asset has increased by 11.1 billion…

AfCFTA could boost maritime trade in Africa, reveals new report

AfCFTA could boost maritime trade in Africa, reveals new report

UNCTAD’s Review of Maritime Transport 2021 stated that the African Continental Free Trade Area (AfCFTA) could boost intra-African trade by up to 33 percent and cut the continent’s trade deficit by 51 percent. A study by the UN Economic Commission for Africa with a time horizon of 2030 indicates that cargo transported by vessels would…