The House of People’s Representatives (HPR) has amended two separate proclamations to allow foreign nationals of Ethiopian origin to engage in local insurance and microfinance businesses.

A local consulting company, HST Consulting Plc, has won a bid to develop a Human Resource Strategy document for the Ethiopian Reinsurance Company S.C. for around 2.1 million birr.

Insurance companies filed a complaint against the latest crackdown by Ethiopian Revenues & Customs Authority’s (ERCA), claiming unpaid custom bonds and guarantees provided to clients for the payment of import duties and taxes, saying that it is creating problems on their day-to-day operations.

Ethiopian Revenues & Customs Authority’s (ERCA) latest crackdown to collect unpaid custom bonds and guarantees provided to clients for the payment of import duties and taxes has caught insurance companies by surprise.

The Ethiopian Reinsurance Company has sustained a loss of 59 million birr in the first year of its entering into the insurance business in Ethiopia.

Experts from the financial services sector are going to deliberate on the challenges and opportunities of the financial sector in the East Africa region at the second East Africa Finance Summit to be held in Addis Ababa from December19-20.