4 January 2013

Eritrea: Insurance Firm Distributes Shares Sale Forms

Asmara — The National Insurance Corporation of Eritrea (NICE) has distributed forms as regards sale of shares, which opportunity has become claimable for nationals as of January 1st.

Mr. Zeru Woldemichael, the Manager of the Corporation, explained that the form is accessible at the head office or its official website www.nice-eritrea.com, and that applicants should attach related bank advice with filled forms. Accordingly, the Corporation has opened special accounts at the Housing and Commerce Bank, as well as the Commercial Bank of Eritrea so as to serve the purpose.

Pointing out that one share is being sold at USD 7, Mr. Zeru disclosed that individuals can buy up to 50,000 shares, while businesses and Associations can purchase up to 500,000, given 20 as the smaller permissible number of shares for sales. The currency of transaction is the USD and payments should be done through the new accounts at the two Banks, he added.

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