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United Insurance Secures Disputed Multi-Million Birr

borkena December 5,2018 After three weeks of controversy, the Ministry of Labour & Social Affairs has bestowed domestic workers’ insurance coverage, estimated at 300 million Br, to United Insurance. The signing was planned to take place three weeks ago but was suspended as competing insurance companies filed grievances over the tender procedure. Ministry of Labour […]

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Abay Bank’s sees record high profit of Birr 419 million, up by 68% from the previous year

ADDIS ABABA (Semonegna)–The Board of Directors of Abay Bank S.C. has reported, as per the IFRS reporting requirement, that the bank registered 419 million birr gross profit for the fiscal year (FY) ended on 30th June 2018, which represents a 68% growth over the previous year’s record of 249 million birr. During the year ended […]

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Berhan Bank raised its paid-up capital to Birr 1.7 billion in FY 2017/18, a 20 percent increase

ADDIS ABABA (Berhan Bank S.C.)–Berhan Bank has conducted its 9th Ordinary Annual Shareholders’ Assembly on 10th November 2018 at the Millennium Hall in Addis Ababa. The Bank’s Board Chairman, Ato Gumachew Kussie  disclosed that the Bank has ended the year 2017/18 heralding glorious results in major areas of its operations proving to be one of the […]

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United Bank’s FY 2017/18 profit surged by 42.81%, amassing Birr 706.98 million profit before tax

United Bank SC conducted its 10th extraordinary and the 20th annual general meeting of shareholders at the Addis Ababa Hilton Hotel on October 25, 2018. ADDIS ABABA– United Bank S.C. delivered a commendable performance in terms of yielding good operational and financial results as well as in laying the foundation for greater growth opportunities in […]

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Ethiopia’s pop star Teddy Afro donated 1 million birr to Burayu massacre victims

https://www.borkena.com/wp-content/uploads/2018/09/Teddy-Afro-_-Burayu.mp4 borkena September 20,2018 Teddy Afro, Ethiopia’s most celebrated pop star, donated 1 million Ethiopian birr to victims of Burayu massacre today. He has also visited the victims including those who are displaced. “What we have done is nothing compared to the magnitude of the crisis. We did it just to do what we can […]

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CBE Birr and Amole: Mobile phone-based money transfer platforms by Commercial Bank of Ethiopia and Dashen Bank

Government-owned Commercial Bank of Ethiopia and the the leading private bank in Ethiopia, Dashen Bank, have recently launched mobile phone-based money transfer platforms called CBE Birr and Amole, respectively. Commercial Bank of Ethiopia launches mobile money platform: “CBE Birr” Commercial Bank of Ethiopia (CBE) has officially launched its mobile money services dubbed CBE Birr after […]

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National  Bank Announced 688b Birr Banks Deposit

National Bank of Ethiopia has announced a 688 Billion birr commercial banks deposit amount. Various measures are taken to increase banks deposit accounts, according to Muluneh Ayalew, Director, Monetary. & Financial Analysis Directorate at National banks of Ethiopia, adding that this measure is part of the bank service expansion process. The increased interest rate is […]

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Tigiray Regional State Dedicate 5m birr to Victims of the Bomb attack

Tigray Regional state condemns the bomb attack which happened at Meskel Square and donates 5 million birrs to support victims of the attack, according to Ethiopian News Agency. The regional government condemns any ethnic-based harm or attack, according to the statement issued after a day-long cabinet summit. Such attacks focused on ethnic identity are illegal […]

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Car Seller Collects 410m Birr Embark Scam  Business

A man with a legal trade license opening an office in Hawassa city has collected 410 million Birr from 300 people and hide himself committing business scam, according to Sheger FM. The man collected this amount of money from people different parts of the country, promising to deliver the various type of vehicles ranging from […]

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