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.



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...



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...



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...