ATMIS honours military, police officers
African Union Transition Mission in Somalia (ATMIS), on Saturday honoured outgoing top officers from the military and police components who played an important role in the transitioning of the mission from the former African Union Mission in Somalia (AMISOM).
The 74 officers, included Sector Commanders, Staff Officers attached to the ATMIS Force headquarters and Individual Police Officers (IPOs), who have successfully completed their tour of duty, were honoured at a medal and farewell ceremony in Mogadishu, presided over by the Deputy Special Representative of the Chairperson of the African Union Commission (DSRCC) for Somalia, Fiona Lortan.
Lortan commended the officers for their invaluable contribution to peace and stability in Somalia, particularly during the transition phase from AMISOM to ATMIS.
“Your contributions have been invaluable and your wealth and depth of knowledge will be missed” said Lortan.
Debt service suspension initiative between Ethiopia and the Saudi
Debt service suspension initiative between Ethiopia and the Saudi Fund for Development is signed.
Minister of Finance Ahmed Shide met with Ambassador of Saudi Arabia in Ethiopia Fahad Alhumaydani and delegates from the Saudi Fund for Development. They discussed on matters related to boosting the economic cooperation between the two countries. On the occasion, a memorandum of understanding on debt service suspension initiative is signed.
The insurance giant, Ethiopian Insurance Corporation, registers gigantic performance
The insurance giant, Ethiopian Insurance Corporation, registers gigantic performance in the just-ended financial year. Claim payment spikes by 327 percent.
The state-owned company disclosed that in the 2021/22 financial year it secured 1.3 billion birr that expanded by 17.1 percent of the preceding year.
In the year the company underwriting result was 1.8 billion birr that increased by 29.1 percent from the performance attained in the 2020/21 financial year.
Its revenue from investment and others sources has also stood at 528.3 million birr with 10.3 percent year on year growth.
The gross written premium for the year has increased by 7.3 percent to reach 6.5 billion birr.
However in the year the claim settlement has been spiked by 327 percent to stand at 5.4 billion birr.
EIC’s CEO Netsanet Lemessa, said that even though the amount of claims paid was significantly increased compared with the preceding year it was still 33.7 percent lower from the projection that the company set for the year
