CBE Teams Up with Local Real Estate Firm

Feb 27 , 2021


The Commercial Bank of Ethiopia has signed a memorandum of understanding with Gojo Bridge Housing to provide mortgage financing for the real estate company's housing project. The Bank announced the commencement of registration for prospective homeowners who had reached an agreement with the company during the signing ceremony held at the Hyatt Regency last week. Gojo has started architectural design works for 1,000 houses across four sites in Addis Abeba. The company plans to build over 100 apartment buildings with a total of 10,000 units this year and expand to 100,000 units within five years. Interested buyers are expected to form an association and make an initial deposit of 350,000 Br at the Bank. CBE has provided more than 15 billion Br in credit to 107,000 customers for housing including condominium house owners.


Radar

FAINT & FADING

A shoe cobbler in the Cherqos area clenches tightly at the needle, keeping the dying trade afloat. The ragged tent protecting the vendor from the scorching sun above will soon be a relic if the City administration's beautification campaign is fully realised. Addis Abeba has represented a centre of commerce and culture for the multitude that flock every year from all corners of Ethiopia in its 137-year history. With the informal sector accounting for nearly half of the capital's employed and cons...


Radar

PICTURESQUE LONGINGS

A street vendor around the Stadium area sells high-quality images depicting Ethiopia's diverse tourist attractions. Ethiopia is lauded as a land of man-made and natural wonders with tourist attractions all over the region. However, the constant conflict has rendered too much of its vast heritage inaccessible over the past few years. While many expected a rebound from the two billion dollars lost in tourism revenues in 2022 after the November peace deal, the dawn of another conflict has cast an u...


Radar

ECONOMY CLASS

A cow around the Qera area is transported to a nearby dairy farm as the demand rises during the holiday season. While Ethiopia has the largest cattle population in the continent at over 50 million, animal products appear to be a rare delicacy in the everyday diet of citizens. A recent report by the United Nations indicated that over 80pc of Ethiopians do not eat a healthy diet. High costs compounded by expensive undersupplied animal feed, contraband and hefty taxation play a major factor with a...


Back
WhatsApp
Telegram
Email