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.
OiLibiya, one of the fuel suppliers in Ethiopia, opened 17 additional gas stations with an outlay of 75 million Birr. The gas stations are opened by joining hands with Ethiopian businesses, which took the total of OiLibiya gas stations in Ethiopia to 167.
Reports of the last four years of the Growth and Transformation Plan (GTP) revealed revenues from oilseed surpassed what coffee managed to bring to Ethiopia. During the 2013/2014 fiscal year, oilseed brought U.S. $ 920 Million which was U.S. $ 201 Million up when compare to revenues from coffee.
Ethiopia’s export revenue from oil seeds, pulses and spices took another hit for a third consecutive year as global price falls. The export revenue suffered from the consistent global prices fall which the Ministry of Trade (MoT) and commodity exports plan to avert it by expanding export volume and meeting export targets.
Omo Bank announced that it was able to collect a revenue of Birr 1.5 billion during the 2021/2022 fiscal year. The bank also distributed loans which total Birr 3.5 billion. In addition, its total assets have reached Birr 12 billion.
