Ethiopian Insurance Company (EIC) decided to raise its authorized capital to 592 Million Birr. Currently the company’s paid up capital lies at 383 Million Birr and the plan is pay the 209 Million Birr difference in three years time.
Ethiopian Investment Commission (EIC) and the Ministry of Finance (MoF) vowed to create a solid and permanent EIC-MoF aftercare platform for Chinese companies. The institutions organized an aftercare workshop today together with the Chinese Commercial Councilors Office.
The state owned giant Ethiopian Insurance Company (EIC), suffered a decline in its insurance coverage decreasing down to 8.4 Billion Birr in the just ended budget year. The decline in insurance coverage resulted in the Insurer’s overall market share to drop to 41 percent.
Amhara Industry Parks Development Corporation leased 35.58 hectares of developed land to eight companies in Bure Integrated Agro Processing Industrial Park (IAIP). The companies have a collective capital of Birr 5.4 billion and are expected to employ 1,989 citizens.
Oromia Industrial Park Development Corporation (OIPDC) inked agreements with eight local and foreign companies that would join Bulbula Integrated Agro Industrial Park. The companies will be engaged in tomato processing and the production of avocado oil, animal fodder, and dairy products.
