Dashen Bank, EagleLion to Roll Out Credit Platform

Apr 30 , 2022

Dashen Bank has inked a deal with fintech firm EagleLion System Technology to introduce a credit-based application. Dubbed “DubePay”, the app will allow businesses to sell goods and services to consumers on a 'buy now, pay later' basis. Bank executives say that clients will be able to use the app to buy everything from household commodities to vehicles. Registered merchants will be able to use the platform to collect receivable payments and analyse users' transaction history. EagleLion is the company behind CashGo, a digital remittance platform working with the Bank of Abyssinia. Last month, central bank regulators ordered the Bank to stop using the platform. Dashen Bank remains one of the largest private commercial banks. It netted 1.73 billion Br in profits last year, recording a 12pc growth.


ZamZam Bank Joins Commodity Exchange Payment System

The pioneering full-fledged interest-free commercial bank, ZamZam Bank, has become the 24th financial institution to join the Ethiopian Commodity Exchange's (ECX) payment system. CEO of the Exchange Wendemagegnehu Negera signed the deal with the President of the Bank Melika Bedri last week. According to the CEO, joining the platform which has around 11,000 accounts registered and has transacted over 386 billion Br so far, will allow a reliable mechanism whereby traders can be certain that pay...


AfDB, ADF to Chart Transformation Path at Diamond Jubilee

The African Development Bank (AfDB) and the African Development Fund (ADF) are gearing up for a major joint meeting in Nairobi, Kenya, expected to draw around 4,000 participants. The event, taking place at the Kenyatta International Conference Centre in late May, will focus on "Africa's Transformation," a theme reflecting the continent's ongoing pursuit of economic and social development. "Despite progress over the years, Africa's transformation remains incomplete," said Vincent O. Nmehielle...


Big Art Sale Returns to Addis

The annual Big Art Sale returns to Addis Abeba this weekend. Over 100 artists are expected to showcase their original works and prints at the Hilton Addis. What's Out Addis in partnership with the Hilton Hotel is behind the event that showcases the works of over 100 artists. Big Art Sale has been around for the past 18 years showcasing paints and prints. According to organisers, it offers a chance to meet the artists and enjoy a variety of art forms with a dedicated Kids' Corner and food and...