Ethiopian Business Review

Businesses and individuals obtain guarantees by purchasing insurance policies from insurance companies in case unexpected accident happens. This helps them to mitigate risks and lessen damages. Insurance companies also get insured by reinsurers to mitigate unexpected risk portfolios. Ethiopian insurance companies have been purchasing reinsurance from cross-border reinsurance providers, which has been costly and potentially fraught with illegal practices. Recently however, the National Bank of Ethiopia (NBE) has issued a new directive which enables the establishment of reinsurance companies locally. The new directive will have implications for the economy in general and the insurance industry in particular. As EBR Staff Writer Yoseph Mekonnen writes, the possibility of heavy-handed government regulation and potential pitfalls in establishing it won’t make implementing the directive an easy task.

Monday, 16 June 2014 06:00
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In a speech before the UN General Assembly last December, Nigeria’s Finance Minister, Ngozi Okonjo-Iweala, said that “this is the right time for pursuing intensive international action against illicit financing in developing countries, which undermines the domestic resource mobilisation effort and become a matter of major concern due to the scale and negative impact on Africa’s development and governance agenda.”

Monday, 16 June 2014 03:00
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Despite its long rooted history and significant in Ethiopia’s culture and economy, coffee, Ethiopia’s largest export item is losing its dominance due to continuous price decline in the international market, which leads to a decrease in export revenue from the bean.

Wednesday, 16 April 2014 06:00
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