Nile Insurance Buys 12m Br GERD Bond

Aug 1 , 2020

Nile Insurance Company bought 12 million Br worth of bonds for the construction of the Grand Ethiopian Renaissance Dam (GERD). The company, which had previously acquired six rounds amounting to 51.2 million Br, has raised its total contribution to 63.2 million Br. The company is ready to further support the construction of the Dam until its completion, according to Yared Molla, chief executive officer of Nile Insurance. Nile insurance has total assets of 1.4 billion Br. Its paid-up capital has grown from 12.5 million Br to 366.1 million Br with 136 shareholders and 44 branches across the country. So far, the public has purchased 13 billion Br worth of bonds for the construction of the Dam.



A young shoe shiner goes door to door, offering his services around the Stadium area. It is common in the capital to see young rural migrants engaged in physical labour, scraping change to send home. CHR Michelsen Institute (CMI) estimates that one out of three rural households has at least one family member migrating to cities. Extreme poverty and lack of access to farmland force many to look for better prospects in the city. Upward income mobility has remained stagnant over the last five years...



A carriage around the Ayat area delivers water, as homes rarely access tap water in the area. Ethiopia has nine major rivers, and twelve big lakes, often called the water tower of Africa. However, UNICEF estimates that up to 80pc of communicable diseases in Ethiopia are due to a lack of access to safe water and sanitation. The second most populous country in Sub-Saharan Africa has the highest percentage of the population without access to potable water at 60pc, while the average daily consumptio...



Holiday activities at Jan Meda included penalty shoot outs for cash pay alongside other carnival games. The World Cup final in Qatar ended in penalty shoot outs this year, a global audience of 1.5 billion watched the spectacle. While the tournament's ending had stirred planetary awe, the death of 37 workers during the construction of the stadiums had given the games a sour taste early on. The tournament broke records of the biggest budget of more than 200 billion dollars and the most spectators...