Corp’n Alters Rental Fees, Payment Modality

Jan 5 , 2019


[ssba-buttons]

The Federal Housing Corporation altered a rental fee increase it made on non-commercial units and extended payment modalities for commercial units. The Corporation slashed the fee it imposed on NGOs, government and civil societies by 58pc to 140 Br per square metre. The rental fee of units owned by embassies also saw a 42 dollar adjustment, setting a new price of 50 dollars a square metre. With the revised payment system, tenants of business units are required to pay one-third of the total increment this year and complete the entire rate in the next two years. “We have revised the previous tariff after discussing with the committee in detail,” Reshad Kemal, CEO of the Corporation, told journalists at his office. The Corporation’s decision to go with the new tariff on 6,128 commercial units faced a challenge from close to 500 tenants, who lodged their grievance at its gate. “If the tenants don’t agree with the new amendments, we’ll transfer the houses to those who are interested through a bidding process,” Reshad said.


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...