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Central bank raises insurers’ minimum paid-up capital by six-fold
Only seven insurers meet the new threshold
The National Bank of Ethiopia (NBE) raised the minimum paid-up capital of insurance firms by six-fold. The revised...
Corporation reimburses record high insurance claims
Aviation calamity costs EIC 3.8 billion birr
The Ethiopian Insurance Corporation (EIC) settled 5.4 billion birr in insurance claims during the just ended 2021/2 Ethiopian...
To survive foreign competition, central bank governor suggests mandatory mergers, acquisitions
The bankers' association is upset about the tax on recapitalized dividend
The National Bank of Ethiopia (NBE) plans to enforce mergers and acquisitions on local...
CBE grosses 27.5 bln birr profit last year
The Commercial Bank of Ethiopia grosses 27.5 billion birr profit during the just-ended fiscal year. It is 43 percent higher than the Bank's profit...
Fuel dealers demand gov’t to quintuple profit margin
Gas station owners demand the government to increase profit margins to 1.20 birr per liter within a week. It is a five-fold increase from...
Kazanchis to get 44 storey tower with 13 bln birr budget
CCECC is contracted to undertake the construction
Quara Manufacturing Plc contracted China Civil Engineering Construction Company (CCECC) for 13 billion birr to construct a twin...
Corbetti undergoes ownership change
Owners of Corbetti Geothermal WorldCo have sold their shares to a blend of new companies. Meridiam has become the major shareholder, overtaking from Berkeley...
Fuel imports to surpass USD 5.6 billion, Bahrain company wins contract
Vitol, Kuwait government to supply fuel for the upcoming budget year
Ethiopia is likely to spend USD 5.6 billion to import fuel next year, twice...
Two chamber officials defect on after a trade fair
Secretary General of Ethiopian Chamber of Commerce and Sectoral Association (ECCSA), Yusuf Ademnur as well as Binam Misgina, head of the trade and investment department at ECCSA failed to return to Ethiopia. The two officials tendered their resignation from the US.
Dashen Bank’s Board Chairperson Resigns over “Personal Reason”
Dashen Bank announced the resignation of its board chairperson, Neway Debebe, as of last week. The Bank said the resignation is due to personal reasons.
