Ethiopian Business Review

Fikru Tsegaye

Fikru Tsegaye

Fikru Tsegaye holds MBA in Marketing and MA in Human Resource and Organizational Dev’t. He is currently working at Ethiopian Insurance Corporation as Marketing and Strategic Management Team Leader. He can be reached at

Website URL:

Ethiopia’s current economic progress, as well as its future development prospects, could open the door to more business opportunities and challenges. With that comes the increased possibility of risk and warrants the emergence of insurance and reinsurance businesses in Ethiopia. Herein lies the question: shall Ethiopia shoulder all the risk exposure or share it with other continental or global risk carriers? The topic of cultivating proficient insurers and reinsurers begins here. 

The Ethiopian Health Insurance Agency, a new establishment designed to change the nation’s health insurance platform, is almost ready to launch the first ever health insurance scheme in the country. Its goal is to escalate the health service coverage in order to speed up sustainable health care financing that augments equitable admittance to enhanced health services by means of cross-subsidization. 

In the name of liberalization, and because of relatively easy entry barriers, financial institutions have sprouted up all over the country. With just not more than two decades almost seventeen insurers, seventeen banks and thirty one micro financial institutions, of varying capabilities have joined the sector. Among these, state financial institutions most of which emerged from the old planned economy maintain a massive physical presence and top-heavy market share.