Lucy Insurance S.C., one of Ethiopia’s private insurance companies, has registered a net profit of 13.3 million Birr. The insurance company’s performance shows a 57 percent increase but earning per shares have declined to 166 Birr from 247 Birr when compared to 2014/2015 fiscal year.
Lucy Insurance S.C., the youngest insurer in the Ethiopian economy, declared it made a total of 4.2 Million Birr profit during the last fiscal year.
M-Pesa Safaricom has officially launched a digital fuel payment service at the Bole Total Energies gas station in Addis Ababa, enabling customers to pay for fuel directly through their mobile phones.
The Macro Economic Committee which was formed by Prime Minister Abiy Ahmed adopted a number of new economic rules.
A.P. Moller - Maersk opens a consolidation center at Modjo Dry Port in collaboration with Freights International (PABOMI) which is aimed at simplifying and optimizing apparel and lifestyle customers’ supply chains.
Carl Lorenz, Maersk’s Managing Director for the Eastern Africa Area, said “our integrated logistics offering is all about creating value for our customers. The new consolidation center in Modjo Dry Port saves our customers time and cost through consolidation, synergies and providing a single point of contact with greater visibility. Ultimately, the new facility will help to make Ethiopia a more attractive and competitive destination for sourcing goods for the apparel and lifestyle industries – key industries for job creation and growing the Ethiopian economy”.
