Anbesa City Bus Service Enterprise, one of the state owned enterprises in Ethiopia, received 16 million Birr compensation for insurance claims. The payment was made by another public enterprise Ethiopian Insurance Corporation (EIC) on April 20, 2016.

The claim by Anbesa was made for the loss of busses and property by an accidental fire that happened 2 months ago at Mekanissa Anbessa Bus Garage. The fire accident is said to have caused around 46 million Birr damage. Yet when the accident took place, Anbesa only insured one third of its damaged propertie.

Acting CEO of Anbesa, Leul Hailu, commenting on the matter said, “We did not fully cover the insurance of all the buses, which has caused us to lose millions of Birr”.

The cause of the accident is still not known and Addis Ababa Police Commission is investigating it.
Everyday 470,000 people use the service Anbesa gives with its 420 operational buses working in different parts of the city.

Source: Fortune