TECH5, an innovator in the field of biometrics and digital identity management, announced it has become an international partner and technology supplier for the National ID Program (NIDP) of Ethiopia.
Arik Air, a Nigerian private airline, asked the Ethiopian Civil Aviation Authority (ECAA) for permission to start
flight services to Addis Ababa.
Over eight months have elapsed since Arik Air asked permission for traffic rights, Dr. Harol de Muren, director general of Nigerian Civil Aviation, said last week in Dare es Salaam at the 17th Aviation and Allied Leadership Conference.
A representative of Arik Air said that Arik Air’s delegation was in Addis Ababa last week to discuss the issue with officials of ECAA.
Paga, an aggressive Nigerian fintech startup acquired Apposit, a US software company with primary operations in Addis Ababa, Ethiopia. Apposit builds software to power innovative and high impact businesses in Africa.
Nile Insurance SC reported 41.72 million birr profit after tax in the 2012/13 fiscal year, Fortune reported citing the Company’s annual report.
Nile Insurance's profit after tax for FY2012/12 was up 24.85 percent, from 33.4 million birr a year earlier. Nile also recorded earnings per share of 445 birr.
Nile Insurance Ethiopia reported double digit growth in net profit for the 2011/12 fiscal year. The insurer announced that it earned 33.4 million birr in profits after tax which is 58.2 percent increase as compared to the revenue earned in the previous fiscal year. Earnings per Share also increased by 26.49 percent to reach 425.6 birr, it was reported.
Shareholders of the company discussed the decreasing market share that Nile has in the sector at the General meeting held to announce the financial report at the Addis Ababa, Hilton Hotel. It was particularly noted that insurers that had joined the sector after Nile were currently controlling a larger percentage of the market according to some data cited.
