Oromia Insurance Company (OIC) reported a 239% rise in gross profit in the 2012/13 fiscal year, Capital reported.
OIC, established about four years ago, earned 28.1 million birr profit before tax in the reported period. The company's report presented to the general assembly indicated that, the insurance company earned 20.2 million birr net profit after tax and legal reserve.
Add a comment Add a commentThe Ethiopian Federal Transport Authority (FTA) started implementing a new regulation which classify transport companies into five categories, Fortune reported.
The classification will be based on the capacities of the transport companies and is intended to create a transparent and modern administrative system, according to Fortune.
Add a comment Add a commentElilly International Hotel, a new five-star hotel was inaugurated on Saturday, November 23, 2013, Capital reported. The 154 rooms hotel includes a penthouse and two presidential suites.
Elilly International Hotel also have a swimming pool, spa, gymnasium, night club and restaurants.
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BravoCom PLC, opens its first flagship store for Tecno smartphones on Monday November 18, 2013 around Bole Medhanialem, The Reporter reported.
General Manger of Bravocom PLC, Levi Girma, told The Reporter that the concept behind the shop is to provide consumers with a new experience when shopping for smartphones. “Traditionally, consumers purchased mobile devices from small shops with salespeople sitting behind a counter.
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Nyala Insurance S.C (NISCO), reported a 32.4 percent rise in net profit in the 2012/13 fiscal year, Capital reported.
NISCO grossed 70.2 million Ethiopian birr and earned 57.5 million birr net profit after tax, a 2.7 million birr increase compared with its performance a year earlier.
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