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…

Nyala Insurance launches new services for Ethiopian Diaspora

Nyala Insurance launches new services for Ethiopian Diaspora

Nyala Insurance S.C. announced that it has finalized preparatory activities to launch new services which are tailored for the Ethiopian diaspora. Tegegn Masresha, CEO for Marketing and Business Development of Nyala Insurance told Ethio-Trade and Investment Forum radio show that a new service called “Diaspora Assistance Scheme” will be launched for the diaspora from Europe…

Abay Insurance amasses gross profit of over 75.56 mln Birr

Abay Insurance amasses gross profit of over 75.56 mln Birr

Abay Insurance S.C has registered a gross profit of over 75, 564 million Birr from general insusrance business in the concluded fiscal year on June 2021. The profit shows a 10.8 percent increment from the previous year performance of over 68,175 million Birr, according to the statement issued by the Insurance company. Abay’s gross premium…

CBE, Eaglelion System Tech partner to launch digital hotel booking solution

CBE, Eaglelion System Tech partner to launch digital hotel booking solution

Commercial Bank of Ethiopia (CBE) has partnered with Eaglelion System Technology PLC to unveil new technology solution for digitalizing the Ethiopian hotel industry. A new online system consists of GetRooms, Get Fee and Get Bidding Services. Customers can reserve hotels through GetRooms mobile application using CBE Birr, internet and mobile banking services provided by the…

Commission says it revokes duty-free privilege to curb illegal trade

Commission says it revokes duty-free privilege to curb illegal trade

The Ethiopian Customs Commission announced Friday it has revoked the duty-free privilege, which is permitted through directive number 51/2010 approved by the Ministry of Finance, with a view to prevent illegal and contraband trade. The directive exempts personal items such as professional cameras, laptops, external hard-drives, kitchenware and TV sets from tax, among others. “Travellers…