Corporation Alters Commercial Units’ Rental Fee

Nov 21 , 2018


[ssba-buttons]

The Federal Housing Corporation announced it will soon make the first-ever rental fee revision on 6,635 commercial units. The alteration will be made for the first time since its establishment 43 years ago. The new revised rental fee will be announced in January 2019, after finalising the ongoing market assessment to set the new rates, according to Reshad Kemal, CEO of the Corporation. To amend the rental fee, the Corporation conducted surveys and studies across the districts in the city. The survey demonstrates that 65pc of the tenants have been paying the minimum fee of 65 Br per square meter for the commercial units and 95 Br per square meter for business units at a prime location, respectively. A rental fee for a square meter of privately-owned space around Global Hotel and Gotera Hotel stands 660pc higher than the same-sized plot owned by the Corporation. The Corporation administers a total of 18,153 units in Addis Abeba and Dire Dawa, out of which 37pc are rented for business firms.    


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...