The Ethiopian Evangelical Church Mekane Yesus Pension, Insurance and Investment Commission inaugurated seven story building at Mekane Yesus Mekanisa compound on June 1, 2017.
The commission has been investing in different financial sectors for years and recently started diversifying its investment which real estate is one of them.
This multipurpose building was built with 20 million birr and at the moment all rooms are rented out for different business purposes and started generating income. The 4th floor of this building is occupied by the commission for office use. Additionally, there are two major projects that are underway.
These are eight story building in bole sub city with 65 million birr budget and a seven story multi- purpose building with 85 million birr budget in Hawassa town. “This inaugurated building was started later than the two projects but since it was a smaller project, it was completed first” said Rev. Abraham Mengesha, Chair person of Pension, Investment and Insurance board and President of Central Ethiopia Synod.
The Mekanisa project foundation stone was laid in April 24, 2014 and the project took less than three years for completion.
Pension, insurance and Investment Scheme was established in 1972 with a responsibility of securing pension benefit to the permanent Church employees and their legal heirs. The commission sees to it that life and accident insurance is being effected for the permanent and contract employees of the Church. The contributions come from the employer as well as the employee which the Church gives 24 hours insurance for her employees.
The Board of Pension Insurance and Investment Commission, which was started only as a pension and social security scheme to the employees of the Church has now grown and added employees’ group accident and life Insurance scheme, vehicle insurance scheme, and property Insurance scheme.
All this investments are insuring the sustainability of pension benefit payment for the retired permanent employees of the church.
“I am very happy for what God has accomplished in me and for the trust the PIIC Board put in me” said Mr. Gumachew Kussie, Commissioner of Pension, Insurance and Investment of the Church expressing his feeling about the completion of the building.
Rev. Yonas Yigezu President of the Church blessed the building so that it can be for the Glory of God and the benefit of all people.
It is a great pleasure to see that people who served God and the society during their young age are now been taken care of by the Church this way.