Dashen Bank Moves to Cushion Rising Travel Costs

Aug 11 , 2024


A new card program offering financing options for travel expenses was availed last week. Dashen Bank has introduced two new card programs designed to cater to the needs of travellers and shoppers. The Travelers Club Card offers financing options for travel expenses, while the Shoppers Club Card provides cashback rewards and exclusive benefits. The services were launched at the Bank's headquarters on Sudan St. Executives hope Dashen Bank’s travel financing option could offer some relief to customers facing increased travel costs. It comes as Ethiopian Airlines has announced that international ticket prices will fluctuate based on daily exchange rates. Cardholders can enjoy up to 10pc cashback on purchases and discounts at partner hotels, resorts, and entertainment venues. Membership tiers, ranging from basic to platinum, are determined by initial deposit amounts, starting at 50,000 Br.


Radar

Parliament Nods for Cabinet Appointments

Federal legislators have approved five cabinet-level positions last week with a member of Parliament (MP) voted against and two abstentions were counted. Gedion Timotheos (PhD) leads the charge as the new minister of Foreign Affairs, filling in Taye Asqeselassie's shoes, where he stayed briefly before becoming the country's president. With law degrees from Addis Abeba and Central European universities, Gedion was previously Attorney General and Minister of Justice. Joining him in the redev...


Radar

Abyssinia Group Eyes Expansion with IFC Funding

Abyssinia Group of Industries (AGI), a leading East African steel producer, is poised for significant expansion owing to a proposed investment from the International Finance Corporation (IFC) which is considering a financing package of up to 50 million dollars, including parallel loans in local currency. Headquartered in Kenya, AGI operates two steel plants in Ethiopia, six in Kenya, and has mining activities in Uganda. AGI currently produces 660,000 metric tons of steel annually and employs...


Radar

Fitch Acknowledges Easing Financial Pressures, Enhanced Macroeconomic Stability

Fitch Ratings has upgraded Ethiopia's Long-Term Local-Currency Issuer Default Rating (LTLC IDR) to 'CCC+' from 'CCC-', citing easing financing pressures, improved macroeconomic stability, and increased confidence that local-currency obligations will not be part of the ongoing debt restructuring. This positive development comes as the government implements key reforms and secures renewed concessional external financing. The ratings agency has taken note of the introduction of a market-based ex...


Back
WhatsApp
Telegram
Email