Amhara Bank Celebrates a Milestone with 6b Br Paid-up Capital

Jun 24 , 2023


Amhara Bank celebrated its one-year operation with six billion Br paid-up capital, trailing Awash, Abyssinia and Dashen, the veterans in the industry. It was able to garner 19 billion Br deposits from over a million customers and loan 15 billion Br. Henok Kebede, the bank president, indicated that they were able to integrate 72 branches with a core banking system in 45 days of launching, which he attributed as a milestone. Under his leadership, Amhara Bank has expanded to 260 branches and recruited over 4,500 employees. Amhara Bank celebrated its anniversary at its headquarters around the La Gare area, Addis Abeba’s financial district, with a few of its over 140,000 shareholders. The  Bank, with the moniker “the people’s bank”, has Melaku Fenta as its board chairperson, who is reputable among the business community and credited with reforming Ethiopia’s tax regime, boosting the tax-to-GDP ratio to 12.7pc.


Radar

DREARY LANES

A street lamp around Addis Abeba Stadium melds into the concrete backdrop emblematic of the capital's ageing infrastructure. Over the past few years, Ethiopia's electric grid has been subject to destruction and theft, subjecting the public treasury to hundreds of millions in losses. Nearly half of the country's population does not have access to electricity. A series of projects by the World Bank has contributed to the slight but essential upgrade to the nation's grid, including a 500 million do...


Radar

PLUMPY HUMPS

A trio of donkeys drag along the main road in front of Menlik School around the Arat Kilo area. While the four-legged domestic animal is a venerated member of the Ethiopian labour force, its skin and meat are increasingly valued in the international markets. Rhong Chang, a donkey slaughterhouse operating in Assela Town, Oromia Regional State reopened its services after a seven-year break two years ago. Public outroar has often accompanied the entrance of donkey abattoirs into Ethiopia since anot...


Radar

IMPROMPTU AISLES

A bustling market emerges under a bridge in the boroughs of the Bole Michael area. Addis Abeba City Administration has launched a series of aesthetic initiatives embalmed in themes of beautification and urbanisation that have removed thousands of shops built with makeshift tents. Above a quarter of Addis Abeba's labour force is engaged in the informal economy, which while often associated with connotations of illegality, remains a sizeable employer in emerging economies across the world. Calibra...


Back
WhatsApp
Telegram
Email