Ethio-Re Appoints United CEO as Chairperson

FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers New TRADE AFRICA New

Ethio-Re Appoints United CEO as Chairperson

Apr 16 , 2022

Facebook

Twitter

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.

Radar

Ethiopias Capital Market Sets Sights on Talent Strategy

A new strategy to strengthen the human capital foundation of Ethiopia's emerging capital market is taking shape. Led by FSD Ethiopia in partnership with iCapital Africa Institute and the Nairobi Securities Exchange, the initiative is focused on building the skills, expertise, and institutional capacity needed to support the Ethiopian Capital Market Authority (ECMA). The second round of consultations took place on April 23 at Best Western Hotel, drawing key stakeholders including ECMA Director...

National Bank Upgrades Core Financial System to Global Standard

The National Bank of Ethiopia (NBE) has officially upgraded the Ethiopian Automated Transfer System (EATS), the country's Real-Time Gross Settlement (RTGS) platform, to align with the ISO 20022 messaging standard, effective March 29, 2025. Handling more than 3.5 million transactions a year worth over five trillion Br, EATS is a critical component of the country's financial ecosystem. It enables real-time, high-value settlements among 35 financial institutions, including commercial banks and m...

Spice Supply Hits 41,000tns in Nine Months

The South West Ethiopia Coffee, Tea, and Spices Authority has announced that over 41,000tns of spices were supplied to the central market in the first nine months of the current fiscal year, reflecting the region's growing role in the country's spice economy. The region is cultivating spices on more than 90,000 hectares of land, with major contributions coming from turmeric, cardamom, ginger, and black pepper. For the full fiscal year, the authority aims to supply more than 56,000tns of spice...

News Alert