Magazine date:
Apr 2009 For the first time, Ethiopian farmers became owners of their own private insurance company: Oromia Insurance Company.
This new company, endowed with a capital of 7.7 million USD, 2.4 million USD of which is paid up, has opened 10 subsidiaries in the country, namely in Addis Ababa, Adama, Dire Dawa, Woliso.
The farmers, who have pooled up within cooperatives, control more than 17% of the capital (1 300 000 USD). This initiative has generated more than a 100 jobs in the insurance sector.