Insurance Service Airs Free Medical Care for Traffic Casualties


Insurance Service Airs Free Medical Care for Traffic Casualties

Injured people from traffic accidents will receive free medical care if the new policy proposed by Road Safety & Insurance Fund Service passes the votes at the Council of Ministers. The move comes amid rising concerns over the increasing number of casualties due to accidents on the country's roads. A total of 23,362 traffic accidents occurred in the first six months this year, resulting in 1,872 deaths and 2,888 injuries. It represents a 10pc increase in fatalities and a 5.8pc increase in injuries compared to the previous year. The majority of these accidents occurred in Addis Abeba and the Oromia Regional State. The proposed policy follows a previous compensation scheme that saw accident victims receive 2,000 Br, which Deputy CEO Fetiya Dedgaba deemed inadequate given the current economic climate. It also includes compensation for fatalities in traffic accidents to be higher than the previous amount of 40,000 Br. The Road Safety & Insurance Fund Service was formed through a merger of several entities, including the National Road Safety Council Office, the Insurance Fund Service, and two directorates under the Ministry of Transport & Logistics. The new policy its officials push would provide free treatment for individuals involved in road traffic accidents, which is expected to address some of the financial burdens that often accompany such incidents. Integration of Road Safety course into the school curriculum has been initiated in Addis Abeba and Dire Dewa cities partnering with the Ministry of Education. "The regional states are our next targets," said Fetiya.


Radar

Ethiopia's Central Bank Dips a Toe in the Open Market Waters

In a historic move to manage liquidity within the banking system, the National Bank of Ethiopia (NBE) held its first-ever open market operation (OMO) on July 11, 2024. The auction drew notable interest from the financial sector, with 16 bidders submitting nearly 20 billion Br. The central bank accepted the total amount of bids, reflecting the banking industry's robust engagement with this new monetary policy tool. The NBE's foray into OMOs is seen as a strategic measure to control the mone...


Radar

CBE Shatters Profit Record at 25.6B BR

The state-owned Commercial Bank of Ethiopia (CBE) registered a record-breaking 25.6 billion Br in gross profits for the ended fiscal year, driven by aggressive cost-cutting measures. While CBE faced a challenge earlier in the year with a system glitch, the bank has demonstrably grown its customer base, now exceeding 45 million people. Its total deposits surpassed the trillion birr mark, reflecting a major increase of 170 billion Br. The Bank's revenue also grew by 13pc, reaching 135.4 billion...


Radar

Ethio telecom Dominates Industry with Expanding Profits, Coverage

The state-owned teleco company netted 21.7 billion Br in the financial year, posting a 21.7pc jump in revenues to 93.7 billion Br from last financial year. While it has not enjoyed a monopoly since the entrance of Safaricom Ethiopia three years ago, its annual revenues have taken a leap with the competition. The centenarian operator increased its customer base by 8.9pc to reach 78.3 million, with an 85.4pc geographical coverage. Its nearly three-year-old mobile money service, Telebirr, is use...


Back
WhatsApp
Telegram
Email