Lion Insurance, a key player in Ethiopia’s insurance sector for 17 years, has achieved a major milestone by surpassing Birr 1 billion in premium revenue for the first time. The company’s total premium revenue reached Birr 1.173 billion, marking a 41 percent increase compared to the previous year.
Lion International Bank saw a 47.6 percent rise in yearly profit after tax to 111.29 million birr, partly as a result of growth in income earned from service charges and commissions, Fortune reported.
The bank's earning from service charges and commission fees grew from 45.03 million birr to 61.21 million birr, while gains from foreign exchange dealings only increased by 4.9 percent to 27.86 million birr.
Lion International Bank (LIB) S.C is to launch agent and mobile banking services, Addis Fortune reported.
Di Yuan Ceramics Plc. made its first export from Ethiopia to Somaliland on May 08, 2018 selling 4,000 square meters of ceramic fields.
According to the company’s Sales Manager, William Wieng, the effective marketing chain the company built led to a USD 1 million worth ceramic order from four African countries-Somaliland, Kenya, Djibouti and Sudan.
BEAKA Total Trading PLC and L-Net Technology Group PLC, Ethiopian companies, secured licenses to produce high grade alluvial gold in Gambella and Benishangul Gumuz Regional States, respectively.
