Afro Bank Joins Burgeoning Industry

January 31 , 2021


Afro Bank Joins Burgeoning Industry

Afro Bank S.C., an under formation Bank, has commenced floating it shares for public subscription. The Bank is offering 750,000 shares with a par value of 1,000 Br. Potential shareholders will have to acquire a minimum of 100 shares to be part of the venture, while the upper limit on share subscription is set at five percent of the floated capital, as per the central bank's regulations. The Bank is just one of over a dozen currently under formation including the likes of Tsehay, Jano, Ahadu, Amhara and Damota banks among others. Currently, there are 17 commercial banks in the country in addition to the Development Bank of Ethiopia, a specialised state-owned development financial institution and the National Bank of Ethiopia, the country's regulatory bank.


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Youth in the National Theatre area are waiting for the bus to start moving. They have found a handle to grab and accelerate them ones its starts moving as they ride their skateboard. Although skateboarding is nearly unheard of in Ethiopia, over the past few years, young people have developed a taste for it. Safety, though, leaves a lot to be desired...