SORAS forecasts shortfall in earnings

SORAS has predicted that its profit after tax will drop by as much as 20 percent or Rwf169.1m at the end of the year due to the global financial crisis and the credit squeeze on the local market. Last year, Rwanda’s oldest private insurance company posted Rwf845.7m in net earnings, up from Rwf308.6m in 2007, representing an increase of 40 percent. 
SORAS head offices in Kigali. (File photo)
SORAS head offices in Kigali. (File photo)
Times Reporter