Dashen Bank Boards Ethiopian Skies


Dashen Bank Boards Ethiopian Skies

A digital credit service that offers customers post-flight payment modalities for up to a year was launched by Dashen Bank and integrated into the Ethiopian Airlines application last week. The system is developed by Dashen's internal department and is integrated with the national carrier's FlyGate application, enabling credit limits of up to 600,000 Br while accessible by Ethiopian's mobile app for ticket purchases. Dubbed 'fly now, pay later', the system was launched at the Skylight Hotel. Yohannes Million, chief digital banking officer of the Bank expressed excitement over the new venture, lauding it as part of Dashen's aspirations to excel in the deployment and use of technology.


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Electricity Bills Get the VAT Jolt

The new Value Added Tax (VAT) has begun implementation on electricity consumption and various service fees affecting customers who use more than 200 kilowatt hours of electricity per month. Based on a directive from the Ministry of Finance, the tax will be applied to the excess amount of electricity consumption above 200 kilowatt hours. The Ethiopian Electric Utility (EEU) began implementing the VAT on bills starting from November though both prepaid and postpaid customers will have to pay V...


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Gadaa Bank Expands Reach, Faces Lending Constraints

Gadaa Bank closed its first full fiscal year of operations with a net profit of 90.2 million Br. The 18-month-old Bank held its annual general assembly at Millenium Hall on Africa Avenue last week where the board announced that during the year, the Bank opened 15 branches and now has 85 operational branches. “Due to recently enacted policy measures on credit by NBE and unmet resource mobilization during the fiscal year, the Bank was unable to make loan disbursements,” stated Wolde...


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Oromia Bank's Branch Expansion Weighs on Profits

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