Ethio-Re Continues Profit Roll

Dec 25 , 2021


[ssba-buttons]

Ethiopian Reinsurance (Ethio-Re) netted 194 million Br in profits in the fiscal year ended June 2021, marking the third consecutive year the firm has enjoyed a positive performance. The figure shows a 15.5pc increase from the previous year. The majority of the profit was attained from the general insurance business, accounting for over 90pc. The firm's earnings per share (EPS) also saw growth to 22.52pc from 21.3pc registered in the previous year. The reinsurer's gross premiums grew by 1.1 billion Br, a 30pc jump from the previous year. It paid out close to 300 million Br in claims over the reporting period. Ethio-Re, which has 1.2 billion Br in equity, has seven banks, 12 insurance firms, and 80 individuals and associations as shareholders.


Radar

Deposit Insurance Fund Grows to 15.1B Br, Signals Readiness for Crisis Response

Two years into its operations, the Ethiopian Deposit Insurance Fund (EDIF) has grown its asset base to 15.1B Br, reinforcing its role as a critical backstop for depositors and financial institutions alike. The Fund, established under a proclamation by the Council of Ministers, was designed to shield depositors in the event of bank or microfinance collapses. Since its inception, EDIF has focused on collecting premiums from member institutions, investing the funds, and building a system robust...


Radar

Rockefellers 100m Dollars Leap into Regenerative Lunches

As part of the UNFSS+4 High-Level Convening, a thematic session titled "Nourishing the Future through Regenerative School Meals" was held on July 26, 2025, at the Sheraton Addis on Taitu St. It brought together prominent figures including Ethiopia's former Prime Minister Hailemariam Desalegn, former First Lady Roman Tesfaye, and Kenya's First Lady Rachel Ruto. Organised by the Rockefeller Foundation, the event focused on overhauling child nutrition through regenerative agriculture. Sarah Farl...


Radar

Hijra Bank Backs Young Innovators with Awards, Loans

Hijra Bank has awarded five young Ethiopian innovators in the final round of its “Sirara” Creative Spark Awards, selected from over 27,000 applicants. The programme targets practical innovations in agriculture, sustainability, and appropriate technology. Top winner Milkias Ahmed (PhD) received a 300,000 Br prize and a 3 million Br interest-free loan for developing an organic soil conditioner from animal bones. Second and third prizes went to Yusuf Ali and Muhammad Juhar for a crop-harvest...