Awash Opens Three Full-fledged IFB Branches

Jan 18 , 2020

Awash Bank has opened three new full-fledged interest-free banking branches, pushing the total number to four. Bole Michael, Sebategna and Berbere Tera are the new branches that will offer exclusively interest-free banking services. The Bank opened its first full-fledged interest-free banking service in Bethel, Addis Abeba in November 2019. Awash named the interest-free banking service 'Ikhlas', which is roughly translated as "sincerity, purity or isolation." The Bank, which has about 180,000 IFB customers, has mobilised 3.3 billion Br in deposits through the service. The Bank has been providing interest-free banking services through a separate window at all of its 430 branches. Plans have also been mapped out to open more branches in Nekemt, Jimma, Shashemene, Bale Robe, JiJiga, Adama, Dire Dawa, Harar, Halaba and Deli.


Addis Chamber Embarks on Leadership Forum

A leadership forum where prominent executives will share their experiences in the business environment is organised by the Addis Abeba Chamber of Commerce & Sectoral Association (Addis Chamber) and SAK Training & Consultancy Firm. Headlining Arega Yirdaw (PhD), president of Unity University, who is expected to address the fortunes and adversities of the leadership ecosystem and share insights into his cascade of experiences, the first round is expected to set off at the Inter-luxury H...


Wegagen Bank Launches its Mobile App

Embracing the digital realm, Wegagen Bank officially launched its mobile banking application last week. The App was inaugurated in Dire Dewa City, with Yehwalashet Zewdu, vice president of the Bank Enterprise Services, showcasing its service that provides secure and seamless financial services. According to Yehwalashet, Wegagen Mobile meets the evolving needs of its clientele in Amharic, English, Afan Oromo, Tigrigna and Somali languages. Incorporated in 1997, Wegagen Bank has grown to become...


Zemen Bank Joins IFC's Trade Finance Program with $30m Boost

Zemen Bank has secured a 30 million dollar trade finance guarantee from the International Finance Corporation (IFC) to boost the trade finance operations. A member of the World Bank Group, IFC has welcomed Zemen as the newest member of its Global Trade Finance Program aimed at supporting exports and imports. Signed by Dereje Zenebe, president of Zemen Bank and Madalo Minofu, country manager of IFC, the trade financing is part of the one-billion-dollar Africa Trade & Supply Chain Finance P...