The Institute of Ethiopian Standards (IES) has began work to implement a new system that allows manufacturers to purchase essential standards electronically. This shift from a physical to an online platform streamlines access to standards, potentially expediting the production process for Ethiopian manufacturers.
The Ethiopian Textile Industry Development Institute (ETDI) announced it is preparing to supply up to 100,000 trained personnel by the coming year.
The Ethiopian Insurance Association has requested permission from the National Bank of Ethiopia to enable a system to share credit information amongst insurance companies.
The insurance companies have need of such a system to check if clients are in debt to other insurers so as to help with the 1.7 billion birr of uncollected debt currently weighing down the industry. The association is proposing to collect the debt collectively owed to the sector within two years.
It is to be remembered that Ethiopia’s newly ratified ‘Insurance Business’ proclamation has made several changes to how the industry operates. The new proclamation prohibits insurance companies from providing policy coverage on credit according to a notification issued by the national bank in a circular signed by Temesgen Zeleke, Director of the Insurance Division Directorate at NBE.Vehicle owners in Ethiopia without third party vehicle insurance after the 10th of December will face disciplinary action. The deadline for registration was set by the Insurance Fund Office last September.
The Insurance Fund Office is in charge of setting tariff rates, preparing windshield sticker and certificates, handling emergency claims and third party claims for uninsured or untraced vehicles.
The office has delegated the Ethiopian Insurance Corporation to act on its behalf in all areas except for the setting of tariff rates.
A foundation stone has been laid for the construction of an international airport in the town of Gode, in eastern Ethiopia's Somali region. The new international airport is named "Miraad Leyli International Airport", named after a local martyr.
