State Financial Institutions Gross 3.8b Br Profit

Nov 28 , 2020

The three state-owned financial institutions under the Public Enterprise Holding & Administration Agency have grossed 3.8 billion Br in profit during the first quarter of this fiscal year. Commercial Bank of Ethiopia (CBE), the Ethiopian Insurance Corporation (EIC) and Development Bank of Ethiopia (DBE) are three institutions that have achieved 87.4pc of the targeted 4.4 billion Br profit. The largest share is controlled by  Commercial Bank of Ethiopia, which accounted for 81pc of the total value with 3.1 billion Br. DBE and EIC follow with 455 million Br and 260 million Br in profits, respectively. The companies have also bagged 19 billion Br in revenues, 95pc of the plan, during the reporting period. During the past fiscal year, the 22 public enterprises under the Agency grossed 300.5 billion Br and 55.6 billion Br in revenues and profit, respectively.



Addis Abeba strives to be a city of distinction with a glamorous look. But lately, most parts of the city are overwhelmed by informal street vendors. Underneath the bridge around La Gare, commonly known as Lagahar, a street vendor sells pieces of watermelon from a mobile pushcart. Watermelon is a flowering plant species with more than 1,000 varieties worldwide. It lowers high blood pressure and cholesterol levels when taken regularly. Ethiopia exported 483tns of watermelon to Djibouti in 2018, w...



Since its establishment during the reign of Emperor Haile Selassie, Meskel Square, on the interseciotn of Africa, Ras Mekonen and Jomo Kenyatta avenues, has been one of the landmarks of Addis Abeba. Having been the site for public gatherings, rallies and festivities like (Meskel celebration), the Square laid out a somewhat classy atmosphere to the city and has become a recreational centre with a mesmerizing look. Following the Beautifying Sheger Initiative, the refurbishment of the Square was in...



Addis Abeba's Stadium neighbourhood has been home to driving and cycling trainees for decades. Homeless children favour the location for its open spaces and high traffic. They ride rented bikes around on a school day. Pangs of hunger are numbed out by riding in circles on top of colourful bikes for the children. They were escaping vicious cycles of poverty on top of bicycles, if only for minutes...