City Admin Annuls Condominium Lottery Draw


City Admin Annuls Condominium Lottery Draw

Addis Abeba Mayor Adanech Abiebie has annulled the outcome of a lottery drawing for the transfer of condominium units that took place earlier this month. The decision came less than a week after the latest round of lottery draw for over 25,000 units. Officials say discrepancies in the digital drawing system and the lottery process were behind their decision to scrap the results. Less than 80,000 eligible individuals who have saved up the minimum downpayment for units built under the 20/80 and 40/60 housing programmes were entered into the lottery. Hundreds of thousands of hopefuls were left out. A committee comprising officers from the Information Network Security Agency (INSA) and the National Intelligence Service found that close to 100,000 people had illegally entered the draw by accessing the digital lottery system. It is the latest hiccup in the tumultuous saga of the city's low-cost housing scheme. Hundreds of thousands of residents have been waiting to receive units for over a decade after depositing down payments with the state-owned Commercial Bank of Ethiopia (CBE).

[ssba-buttons]

Radar

Bank of Abyssinia Signs Partnership with Droga Cooperative

Bank of Abyssinia has entered into a partnership agreement with Droga Health & Financial Savings and Credit Cooperative to provide financial support and services for its members. The agreement was signed yesterday at the Bank's headquarters. The deal aims to strengthen collaboration between the two institutions, enabling cooperative members to access tailored banking services. It was signed by Wosenyeleh Abera, Deputy CEO for Customer Relations and Marketing at the bank, and Zelalem Yilma...


Radar

Wegagen Introduces Real Time SWIFT Tracking

Wegagen Bank has launched a new mobile app feature enabling customers to track international SWIFT payments in real time. The bank is the first in Ethiopia to introduce an online SWIFT payment tracking system. By integrating SWIFT Global Payment Innovation, customers, particularly those involved in import-export trade, can monitor cross-border transactions using a Unique End-to-End Transaction Reference (UETR) directly from their smartphones. To use the service, customers select the SWIFT...


Radar

National ID, Zambia Partners to Expands Program Reach

The National ID Program has signed an agreement with Zambia's counterpart to provide consulting services for the development of software that will issue digital IDs. It is the first time the institution has extended its expertise beyond national borders, a sign of growing recognition for its rapid progress. Program officials described the partnership as a milestone in their effort to position themselves as a regional player in digital transformation. The collaboration is expected to center...