Fikru TsegayeAugust 30, 20201729

Despite academic recommendations of integrated water management and sustainable development among countries sharing trans boundary rivers to achieve social equity, economic growth, environmental and ecological protection, there is always misunderstanding and sometimes conflict among upper and lower riparian countries. There have been such problems in the Nile basin in Africa, Tigris and Euphrates in the Middle East, Aral Sea basin in Central Asia, Parana basin in South America and Ganges basin in Asia. The fact remains that a uniform mechanism/convention to manage trans boundary water resources does not exist. Some water related customary and general principles of international law have, however, become the basis of major international conventions, treaties and agreements for trans boundary water resources cooperative management.

Fikru TsegayeAugust 15, 20203026
Calls for Innovative Insurance Products

The novel coronavirus (COVID-19) was recounted to have arisen from Wuhan in China towards the end of December 2019, and the first case has been reported in Ethiopia by the Federal Ministry of Health effective from 13 March 2020. In a bid to curtail the spread of the virus, various preventive measures have been put in place by the government and insurers have also introduced some insurance products. The measures taken by the Government, among others, include declaring a state of emergency and working on urging the public to wash hands frequently, maintain social distancing, place reliance on reliable and up-to-date information about the pandemic, wear masks and ensure isolation after infection or when in suspicion of infection. In addition to social and health-related measures, the State-Owned Insurer has pledged to place life insurance for health professionals in direct contact with COVID-19 patients.

Fikru TsegayeAugust 28, 20195580

We have shockingly witnessed Ethiopian artists seeking donations and financial support to cover emergencies such as medical or funeral expenses time and again. Most of them are either unable or unprepared to cover such costs which in turn have led many of them to untimely death, and public disgrace. If the art community could plan and negotiate affordable insurance coverage, they can avoid both ill-fated consequences. In a country of rich art collections and profound artists, underwriting suitable insurance for art and artists could indeed be in high demand.

Fikru TsegayeFebruary 17, 20195823

Considering the existing reality in the Ethiopian finance sector, one may propose that an excessive short-term focus by some boards of directors, corporate leaders and shareholders combined with insufficient regard for long-term strategy can cause an imbalance in the companies’ long term and sustainable growth. Particularly, shareholders represented by a board of directors typically affect company operations and decisions differently than other stakeholders concerned with the business.

Fikru TsegayeOctober 15, 20187444

Just like any other aspects of the economy, the insurance industry had been significantly affected by the overall economic and other policies existed in Ethiopia. Though the potential for growth is strong, the insurance industry is not delivering as expected due to structural bottlenecks and challenges at macro as well as micro levels.
Hence, to develop the industry, and achieve the growth envisioned, deeper understanding of the realities on the ground and enabling legal and regulatory framework is needed. On top of these, broader understanding of the industry perspective through the value chain, establishing industry conduct that will enhance consumer trust, identifying growth avenues and by crafting right strategies is also required. Above all liberalizing the sector in every aspect is needed to emancipate the industry.

Fikru TsegayeAugust 15, 20186460

In Ethiopia, the hospitality industry, which includes the hotel and tourism sub-sectors, has been registering progress. Official reports from the Ministry of Culture and Tourism show that the sector has never been better in terms of tourist flow and revenue. The sector is expected to record growth in the volume of inbound and outbound tourists in the years to come.

Fikru TsegayeJune 16, 20185337

Succession planning isn’t as straightforward as just christening one or more workers as surrogates, or enumerating a list of would-be substitutes. Rather, it is a strategic, planned and cognizant effort to cultivate future leaders who can ensure a business’s sustainability. Arguably the most critical decision a given board makes for a company’s future is electing a CEO. It must also be a standing board agenda item and the board should be kept appraised of development plans so that it assures that the organization’s future leadership needs are met. To everyone’s wonder, in Ethiopia’s financial sector most boards know least, or bother less as to how to choose their next CEOs.

Fikru TsegayeFebruary 1, 20187159
Opportunity, Threat for Insurance?

No country in the world, however well protected, can consider itself immune from political violence. Terrorism is evolving fast as networks and cells continue to look at new methods to inflict damage and cause panic. Under the current circumstances, politically motivated attacks and civil unrest in Ethiopia keep threatening business organizations. As a result, companies look to insurance protection—primarily political risk and terrorism coverage—to manage the exposure. The current eruption of political violence in parts of Ethiopia and the adverse human and financial cost, coupled with the swelling tendency of threats, is pushing the risk into uncharted territory.

Fikru TsegayeJuly 15, 20171673

Facts and figures show that the insurance density-cum-penetration level in Ethiopia is at the lowest point. While there are scores of factors, both from the supply and demand sides, one possible reason is dearth of research based insurance products and solutions that could meet the needs and socio cultural make up and religious standards of the society. The industry is highly dependent on conventional insurance products such as “motor” which constitutes the largest portfolio.

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