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.


Radar

WET MIRAGES

A booming plastic container market around the Saris area bustles with shoppers inspecting the selections. Water supply shortages have plagued the capital as an expanding population size's demand is unmet by the drops moving through the pipes. The Addis Abeba Water & Sewage Authority relies heavily on underground wells and surface water from the Legedadi, Dire and Gefersa dams. With the Authority digging 28 wells to meet the demand shortage, several parts receive water through the taps three...


Radar

LEANING LOSSES

A telephone pole gently rests aside DebreZeit road, tucked into the city's ageing infrastructure. Ethiopia's infrastructure has been under rising assault by robbers who mimic maintenance workers appointed by the state. The ones pared from theft are constantly a victim of subdued synergy between government bureaus. The International Journal of Scientific & Technology Research published a study in 2020 indicating that lack of coordination between agencies was a significant factor in delays, co...


Radar

FESTIVE MEDLEYS

Traditional holiday hymns are sung by a group of men dressed in cultural outfits with decorations made from a horse's mane around the Bole area. The early weeks of September bring with them a panoply of festivities. A soft holiday spirit glistens the streets of Addis Abeba, while roaring hordes of shoppers grappling with inflation rates near 30pc do not grace marketplaces like they used to. The tight clampdown on access to foreign currency by the Ministry of Finance which banned the import of 3...


Back
WhatsApp
Telegram
Email