Banking Industry Profits Near 50b Br

Aug 13 , 2022

The banking industry netted close to 50 billion Br in profits in the last financial year, according to a report from the National Bank of Ethiopia (NBE). The report lauds "remarkable" growth in deposit mobilisation and credit disbursement. Bank assets have soared to 24 trillion Br, while deposits are up to 1.7 trillion Br. Governor Yinager Dessie (PhD) said the financial sector has continued to perform despite challenges. Among these was a four-month suspension on collateralised loans the central bank enacted in late 2021. Digital banking has also grown, with the number of mobile banking users topping 43 million. The industry has welcomed close to half a dozen entrants in recent weeks, including Tsehay, Amhara, and Ahadu banks.



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...