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Ethio-Re Appoints United CEO as Chairperson

Apr 16 , 2022

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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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Milkii App Disburses 25 Million Br in Collateral-Free Loans in Two Months

Oromia Bank's new collateral-free digital lending app, Milkii, has disbursed 25 million Br in loans without requiring collateral. Of this, 16 million Br has already been repaid, generating 1.4 million Br in revenue within just two months. Developed in partnership with Quantum Technology PLC, the app plans to make lending more accessible and inclusive, aligning with Oromia Bank's contribution to the Digital Ethiopia initiative. According to a press release, Milkii promotes financial inclusi...

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Ethiopia Partners with UK to Ease Shipping Bottlenecks

The Ethiopian Freight Forwarders & Shipping Agents Association (EFFSAA) and the British International Freight Association (BIFA) signed a memorandum of understanding (MoU) on May 27, 2025, at Hyatt Regency Addis Abeba, to address skills gaps, customs delays, and corridor inefficiencies in the freight and logistics sector. The partnership focuses on technical cooperation, training, and regulatory reform. With over 90pc of trade dependent on the Djibouti corridor, rising congestion, customs...

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Education Authority Sanctions Mishqen College for Rule Violations

The Education & Training Authority has issued a decisive directive last week, mandating legal action against Mishqen College for persistently defying regulatory orders and unlawfully continuing to offer higher education services. Mishqen College had previously been licensed to conduct undergraduate distance learning programs across multiple regions from 2019 to 2022. However, after serious regulatory breaches, the institution was ordered to cease all instruction, complete pending academic...

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