GE Africa, the U.S. African Development Foundation (USADF) and the U.S. Agency for International Development (USAID) on Monday, August 10, 2015, disclosed that an additional USD 1.1 million has been awarded to 11 companies across Ethiopia, Tanzania, Kenya, Nigeria and Ghana.
Oromia International Bank (OIB), one of the private banks in Ethiopia, made 248 million Birr profit in the last fiscal year. The profit is 12 percent higher than the bank’s performance during 2015/2016.
Oromia International Bank (OIB) posted a 71.9 percent rise in annual profit. The bank's profit for the year ended on June 30, 2013 totaled 77.5 million birr, Fortune reported.
The Bank’s return on average equities rose to 17.34 percent from 14.8 percent. The bank also managed to mobilize a total deposit of close to 3.1 billion birr, a 44 percent rise from earlier a year, Fortune reported citing the bank's annual audited report.
Oromia Insurance Company (OIC) has introduced a new scheme to pay compensation for livestock before the drought season, Addis Fortune reported.
Oromia Insurance Company (OIC) disclosed it has made compensation payments worth 1.6 million Birr for farmers who lost their cattle as a result of El Nino phenomena which occurred last year across Ethiopia. The insurance company effected the payment to 1,470 farmers around Guji and Borena Zones in Oromia.
