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 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.
The Commercial Bank of Ethiopia (CBE) has become the biggest bank in east and central Africa, with a total asset of more than 1 trillion Birr. In the first quarter of the current fiscal year, the bank has given out loans worth of 36.8 billion Birr for different investment projects and trade activities, and also…
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…
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…
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 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…
The Industrial Parks Development Corporation (IPDC) announced Monday that ShangTex Manufacturing Ethiopia, a company based in Bole Lemi Industrial Park, has exported its first round of 45,000 sweaters to Italy and earned more than $ 80,000.
Dashen Bank has decided to boost its paid up capital to 12 billion Birr. As of July 2021, its paid up capital was 5.4 billion Birr and it has decided to raise its paid up to 12 billion Birr in the coming two years. The Bank held its 28th ordinary and 25th extra ordinary meeting…
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…
