Habtemariam Shumgizaw, Chief Executive Officer of National Insurance Company of Ethiopia (NICE), has stepped down from his authority to retirement. His retirement is going to be effective from Saturday, November 1, 2014.
National Insurance Company of Ethiopia S.C. (NICE), one of the insurance firms in Ethiopia, lost its CEO, Tedros Bogale. His resignation, according to Fortune, is going to be effective from January 7, 2017.
Nigma Motors and Spare Parts Plc, a sister company of Nigma Agro Industry has begun assembling automobiles with 57 million Birr capital, Addis Fortune reported.
Nile Insurance S.C. reported Birr 560.5 million in pre tax profit for the 2024/25 fiscal year, a 16.6 percent increase from Birr 480.6 million the previous year, according to its annual report.
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.
