CBE Extends Loan Repayment to Condo Owners

Apr 17 , 2020

The Commercial Bank of Ethiopia (CBE) has extended the loan repayment period for condominium house owners by three months to ease the burden on the borrowers due to Novel Coronavirus's (COVID-19) impact on the economy. During the period, the Bank stood to collect half a billion Birr in loan repayments from these borrowers between April and June. Over the past couple of years, the Bank gave 74 billion Br in loans for housing projects in the capital and regional cities and towns. Furthermore, it has provided more than 15 billion Br in credit to 107,000 customers for housing. The Bank, which donated 10 million Br to the Ministry of Health a few weeks ago, has also frozen all pending foreclosure processes on the properties of borrowers who have defaulted.


Mobile Apps Streamline Container Handling

A Chinese private logistics company availed its multilingual mobile applications designed to streamline container handling processes for local businesses. Dubbed arl-shipping.com, the apps are available in Amharic, Oromo, Somali, and Tigrigna, with a competitive monthly fee. Company managements aim to tackle inefficiencies by scanning truck license plates, container IDs, and other details, reducing manual data entry and the potential for errors. Users can also record gate movements with times...


Private Investment Takes Flight in Aviation Industry

Local private operators received the green light last week to expand their services beyond charter flights, offering regular passenger and cargo options. This move by the Ethiopian Civil Aviation Authority is expected to boost the air transport sector, attracting private companies to invest in air travel services. The Authority is partnering with private investors to improve air transport infrastructure by building over 21 new airstrips and helipads in previously underserved areas. Officials...


Safaricom Ramps Up Network Expansion with Locally Made Poles

Safaricom Ethiopia has initiated a three-month procurement process to acquire a total of 68 poles from Woda Metal, the first telecom pole manufacturer in the country. The initial batch of 13 poles was delivered last week, marking a milestone as the first use of domestically produced poles in Ethiopia's telecom sector. Wim Vanhellputte, CEO of Safaricom Ethiopia, praised the high quality and affordability of Woda Metal's poles, which will be crucial for their network expansion goals. The co...