Banks Report Deposit Bonanza

Jul 11 , 2021

Awash Bank, one of the largest private banks in Ethiopia, collected more than 100 billion Br in aggregate deposits by the end of the just-ended fiscal year, opening 100 branches throughout the country in 2020/21. The Bank has also provided 87.1 billion Br in loans and had nearly a billion dollars in forex inflow over the same period. Its paid-up capital hit 8.2 billion Br. Meanwhile, the Bank of Abyssinia collected around 41 billion Br in deposits, registering 2.5 million new customers. In the announcement it made last week, the Bank reported a growth in earnings from forex, loans disbursed, deposits, and gross profits.



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...



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...



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...