Melaku Sissay, Nile Insurance’s CEO for the, resigned from his position that he held since last years. His resignation came a week after the company presented its performance report for its shareholders. The Insurer has also confirmed that the company’s board of directors replaced Melaku by the claims manager, Hailu Mekonnen. The board’s appointment has also been approved by the National Bank of Ethiopia.
Oromia Insurance Company SC (OIC) disclosed it had paid a total of 380,000 Birr as compensation for farmers. The claims by the farmers were made following the drought Ethiopia experienced last year as a consequence of El Nino phenomenon.
Ethiopian Spice Extraction PLC disclosed it is ready to commercialize animal feed and pesticide extracted from Abyssinian Mustard, which is commonly known as “Senafich” in Ethiopia. The new extract is said to have been named “Detoxicated and Defatted Ethiopian Mustard Mill” and it has a competitive leverage and potential to reduce protein deficiencies sustained in the livestock and poultry sector.
Add a comment Add a commentEthiopian National Defense Construction Enterprise and Construction Materials Manufacturing Enterprise has joined hands with Legendary MegaCrop, an infrastructure development firm from the United States (US), to establish a company that will produce modern construction materials. The company will be established in Ethiopia and the US based firm will have an initial investment of 10 million USD.
Add a comment Add a commentEthiopia will inaugurate its newly built 25,155 seater Woldia Stadium early next month. The stadium is built at an outlay of 567 million Birr and it took 4 years to finish it.
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