2merkato

Ethiopian Employers’ Federation (EEF) and Ethiopian Employers’ Confederation (EEC) were united by the Ministry of Labour and Social Affairs (MOLSA). Ethiopian Employers’ Federation was established 20 years ago which makes it 19 years older than the confederation. Since the latter’s establishment, the two employers’ rights advocates were in a dispute over the seizure of power by leaders of the employers’ associations and the federations.

Labor Ministr Dr. Hirut Woldemariam said, “The split has created inconvenience for the operation of the government. By unifying the two institutions, we aspire to have a strong employers’ confederation.”

EEF’s President, Ato Tadele Yimer and EEC’s President, Ato Getahun Hussien signed the agreement. The new confederation will start operation within fifteen days.

Source: Addis Fortune

Ethiopia secured close to Birr 152.7 billion in 2017/18 fiscal year through multilateral agreements with the World Bank, African Development Bank, European Investment Bank, European Union, and United Nations, as well as bilateral agreements with China and other countries. The total foreign Aid and grants secured in the past fiscal year showed a 54.48% increment than the previous year.

Ethiopian Insurance Company, which is a state-owned company, said it earned a gross profit of Birr 946.3 million in 2017/18 fiscal year. General insurance services contributed to 96 percent of the profits while the company’s insurance coverage worth birr 2.2 trillion. It also registered net underwriting of 1.1 billion and paid Birr one billion for claims.

Ethiopia and Singapore agreed to tighten their trade and investment relations. The two countries held discussions during the third Ministerial Exchange of Experiences Forum which is held every two years between Singapore and sub Saharan African countries.