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…
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,…
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…
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 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…
Oromia Insurance S.C. has boosted its gross profit to 141 million Birr in the concluded fiscal year last June 30, 2021. The gross profit performance in the previous year was 73.16 million Birr. As of June 30, 2021 the total assets of the Company reached more than 1.94 billion Birr, which show a 33.58 percent…
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…
Bunna Bank S.C. has reported a gross profit of 937 million Birr in the concluded fiscal year in June 2021. The Bank held its 12th general and 5th extraordinary shareholders meeting at Gold Club on Sunday. Sewale Abate (PhD), Chairperson of the Board of Directors of Bunna Bank said the Bank’s total deposit reached 20.4…
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…
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…
