Amhara Bank Offers Shares for Subscription

Aug 17 , 2019


The currently under-formation Amhara Bank started selling shares on August 17, 2019, with an official launching ceremony that was held at Sheraton Addis Hotel. Chaired by Melaku Fenta, former director-general of the then Ethiopian Revenues & Customs Authority, the under-formation Bank set the par value of a share at 1,000 Br. The minimum number of shares a shareholder can buy is 10 and a maximum of 100,000 shares. The under formation bank got a permit to sell shares from the National Bank of Ethiopia last month. Along with Amhara Bank, Gadaa Bank and Goh Morgage Bank have started selling shares to start conventional banking services. Five more banks have also secured under formation licenses from the central bank to start full-fledged, interest-free banking services. During the 2017/18 fiscal year, the 17 commercial banks operating in the country raised their capital to 85.8 billion Br. The banks also mobilized 298.2 billion Br from deposits.


Radar

BRIDG-EATERIA

They say, "Where there is traffic, there is business." It reflects the colour of Addis Abeba roads and roundabouts. Around Bole, commonly known as the Ring Road, vendors serve tea and snacks underneath a bridge. Owing to these selling methods allow pedestrians and drivers to get the service they need while walking and driving. Despite that, such practice has become a frequent encounter in the heart of the city streets. The most common purpose of a ring road is to reduce traffic volumes in the ur...


Radar

WALKWAY DISPLAY

Pedestrian walkways around Addis Abeba are growing smaller by the day, competing to gain a foothold in the public spaces. The city, which prides itself as Africa's political and diplomatic capital, becomes a showcase of contrast. Beauty and affluence wrestle destitution and poverty to claim space. Vendors have displayed their second-hand outfits, shoes and luggage for sale on a roundabout in front of the Ministry of Education, up at the Arat Kilo area...


Radar

TRAILER HOMES

Retired city buses were once converted to bakery outlets retailing bread supplied by ‘Sheger Bakery' during their twilight zone. The city administration had used Anbessa City buses as its retail shops before formal outlets replaced them. Sheger Bakery, touted as the largest bakery and flour factory with the potential of baking two million loaves of bread daily, was to cater for millions of people in Addis Abeba with a subsidized bread supply but failed to live up to expectations. The old city...