2merkato

Eyesuswork Zafu, veteran insurer, said last week that he would retire within two months from his position as the CEO of United Insurance. He has been the CEO of the insurance company for the last 17 years.

Eyesuswork, who is also the president of the Ethiopian Chamber of Commerce and Sectoral Associations, has been considering retirement from the insurance company for the last three years.

He said that although he would retire soon, he would continue to serve the company in the capacity of a councillor and an advisor. “As personal connections still matter in the insurance industry, I will be there to assist the company’s business.”

The Common Market for Eastern and Southern Africa Bank (PTA Bank) approved the 6 million US dollar loan requested by Access Resorts, Ethiopia. The National Bank of Ethiopia has also approved the loan according to sources.  

Access requested the loan for the renovation and upgrade work it expects to carry out on the former Imperial hotel.

The central bank approved the loan because Access was able to prove that it can pay back the loan in foreign exchange noted Alemayhu Kebede, Director of Change Management and Communications at NBE.

Ethiopia’s Ministry of Foreign Affairs (MFA) signed a Memorandum of Understanding (MoU) with Eastern and Southern African Trade and Development (PTA Bank) for the later to establish regional office in Addis Ababa.

Public enterprises administered by the Ethiopian Privatization and Public Enterprises Supervisory Agency earned US$8.1 million revenue from exports during the first quarter of the current Ethiopian fiscal year, the Agency said.

The Public Financial Enterprises Agency announced securing 3.9 billion birr in the first two quarters of the financial year in Ethiopia.

The agency exceeded the target revenue of 1.17 billion birr it had set for this period according to Dr. Sentayehu Woldemichael, General Director of PFEA.

The revenue raise is also significantly more than the 2.4 billion birr the agency was able to raise in the same period last budget year said Dr. Sentayehu.