Ethiopian Reinsurance Eyes African Expasion

Dec 19 , 2021

The executives of Ethiopian Reinsurance S.C. (Ethio-Re) plan to expand into other markets in East Africa within the coming five years. The company was incorporated in 2016 as the country's first reinsurance firm. Though its performance over the first two years of operation were shaky, Ethio-Re has been consolidating over the past three years. Its paid-up capital surpassed the one billion Birr mark last fiscal year. The company has also been implementing a strategic plan developed by Deloitte since last July, and hopes to use a recent B- international rating it received from GCR Rating, a South African rating agency, to attract business in East Africa.


High-Level Event Aims to Address Humanitarian Crisis

Development partners and government officials are expected to discuss improved humanitarian responses at a crucial event in Geneva, Switzerland this week. Co-hosted by the Ethiopian government and the UN Office for the Coordination of Humanitarian Affairs (OCHA), the primary goal is to secure pledges from both development partners and the government, according to officials. Millions face hardship due to conflicts, economic downturns, climate shocks, and disease outbreaks, according to a UN st...


Mastercard Announces Up to $2.5m Grants for Agribusinesses

Small and medium enterprises (SMEs) in the agricultural sector are poised for financial support as the Mastercard Foundation Fund pledges to award grants over the next three years. The Agribusiness Challenge Fund will award grants ranging from half a million dollars to 2.5 million dollars to qualifying businesses in Ethiopia and 19 other countries. According to Smita Sanghrajika, an engagement partner at the Foundation, agribusinesses have lacked the financial resources needed to scale up and...


Document Authentication Service Gets Fee Revamp

The Council of Ministers approved a new regulation for the Federal Document Authentication & Registration Service last week which introduces a two-tier fee structure for citizens and foreigners, with an overall increase. Beginning at 100 Br for citizens seeking document authentication for an assigning agency of single documents, the ceiling goes up to 500 Br while foreigners pay double these rates. Implementation of the new fees began this week. These changes come alongside a digitisat...