 FUTURE PROSPECTS |
The various natural and man-made difficulties the nation had encountered and continues to face notwithstanding, your Directors remain guardedly optimistic both about the country and our Company.
Regrettable as the present human tragedy and setbacks to the country's development efforts are, the conflict between the two countries appear to have rekindled and energized the spirit of Ethiopian unity to a level not seen in decades. Many believe that this will be a huge political capital/ energy which Government could subsequently redirect towards rapid economic and social development.
Our Company is a product of the new economic dispensation. It was born out of the collective will and determination of numerous individuals and enterprises committed to the ultimate success of a market-led economic regime. Three years down the road, these same investors re-affirmed their commitment by engaging their Company in long-term business, Life Assurance-a class of insurance not known to produce quick profits-and adopted a fitting slogan "UNIC-ETHIOPIA IS TOMORROW'S COMPANY TODAY!". If your Company sounds anxious and sometimes impatient, it is not because it is desperate for more business or more/quick profits. Rather, it is the realisation that so much more could be done were it not for the debilitating administrative red-tape it encounters in its efforts to undertake new investment projects (development of property at Tewodros Square, Life Line Solutions SC and United Bank SC).
During the financial year 1998 to 1999, the Company plans to focus more on consolidating and deepening the gains secured so far. Future expansion as regards new branches shall be co-ordinated with the expansion plan of the United Bank SC, expected to start operations in September 1998.
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| VOTE OF THANKS |
As in previous years, our numerous customers continued to repose their trust and confidence in our Company which was pivotal to its successful year of business. The Board, Management and Staff salute each and every one of them and renew their promise to strive more and better to prove worthy of their trust and confidence.
The Board and Management also extend their appreciation for all government and quasi government offices with whom our Company dealt in its normal course of business and from whom it received the required co-operation.
The Board and Management also wish to record their appreciation for the association the Company enjoys with its reinsurers and the mutually advantageous business relations it has developed with both domestic and international brokers.
The key resource in the Company's strive for excellence its manpower. Each and every one of them have performed commendably during the year. On behalf of all shareholders and on its own behalf, the Board expresses its sincere appreciation to the Management and Staff of the Company for a job well done. |
