5 membership seats of Ethiopian Commodity Exchange (ECX) has been sold at a bid floated for the public. The highest bid price was 2.5 million Birr while the lowest was 2 million Birr. Nonetheless, the highest bid shows decline when compared to previous auction, which attracted a bid price of 2.8 million Birr.
Lucy Insurance S.C., one of Ethiopia’s private insurance companies, has registered a net profit of 13.3 million Birr. The insurance company’s performance shows a 57 percent increase but earning per shares have declined to 166 Birr from 247 Birr when compared to 2014/2015 fiscal year.
Add a comment Add a commentAwash Insurance Company (AIC) disclosed it has made a net profit of 91 million Birr during 2015/2016 fiscal year. The profit made by AIC, which is among the biggest insurers in Ethiopia, shows a 41 percent increase in net profits when compared to the 2014/2015 fiscal year.
Add a comment Add a commentBedisa Group, a Turkish giant established half a century ago, is negotiating to acquire 75 percent of a sugar project in Ethiopia at an outlay of a little over 1 billion USD. The sugar project is Beles Sugar Project, which is found in Amhara State.
Add a comment Add a commentAgriculture and Rural Development Bureau of Tigray State, one of the 9 federal division of Ethiopia, forecasted 28 million quintals of crop will be harvested from this season.
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