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.


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