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Ethio-Re Appoints United CEO as Chairperson

Apr 16 , 2022

Ethiopian Reinsurance (Ethio-Re) has appointed MeseretBezabih, chief executive officer (CEO) of United Insurance, as its board chairperson. NetsanetLemessa, CEO of the state-owned Ethiopian Insurance Corporation, will serve as vice chairperson. Meseret replaces Hailemariam Assefa, who had served the firm as board chairperson since 2019. Ethio-Re was incorporated in 2016 as the country's first reinsurance firm. It has recorded large profits for the past three years. In 2020/21, the firm netted nearly 195 million Br, up 30 million Br from its previous performance. Its gross written premiums rose by over a quarter to 1.14 billion Br last year. Claims paid and provided for fell slightly to 334.5 million Br.

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Dashen Bank Rolls Out Mobile Payment Solution

Dashen Bank has introduced a new digital payment service that allows customers to pay for fuel with ease using the Dashen Super mobile app. The service was officially launched on May 13 and is now available at every fuel stations. According to the bank, the Dashen Super app enables users to make payments in just three clicks, offering a fast and convenient alternative to traditional payment methods. Dashen Bank announced that it plans to expand the service across all fuel stations in the coun...

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Four Key Agreements Passed in Parliaments 29th Regular Session

In its 29th regular session of the fourth year, Ethiopia's 6th Parliament approved four key agreements: two loan deals, the establishment of a finance corporation, and an air transport agreement. Assistant Minister of State for Finance, Meseret Haile, introduced the proposed loan agreements and requested they be sent directly to a second reading for discussion and approval. Parliament accepted the request and proceeded with a detailed discussion on the draft proclamations. Members of Parli...

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New Pact Targets Rural Road Links, Food Security Goals

The Ministry of Urban Development and Infrastructure has signed an agreement with several federal institutions to launch a major project targeting rural connectivity and food security. At the signing ceremony, State Minister Yetmegeta Asrat represented the Ministry alongside officials from the Federal Ethics and Anti-Corruption Commission, the Federal Public Procurement and Property Authority, the Environmental Protection Authority, and Helvetas Ethiopia. A separate agreement was also signed...

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