Ethiopia: OIC Launches New Insurance Scheme for Vulnerable Livestock
Oromia Insurance Company (OIC) has introduced a new scheme to pay compensation for livestock before the drought season, Addis Fortune reported.
Ethiopia: OIC Paid 1.6 Million Birr as Compensation for Farmers
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.
Ethiopia: OIC Posted 28.1 Million Birr Profit for FY 2012/13
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.
Ethiopia: OiLibiya to Open 17 Gas Stations
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.
Ethiopia: Oilseed Revenue Surpass Coffee’s
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.
