Dashen Conveys Buy Now Pay Later

Jan 14 , 2023


Customers of Dashen Bank get to enjoy a credit service through an application launched last week. The Bank President Asfaw Alemu said the App gives access to buy goods and services through credit, allowing a later payment with interest. He implied anyone with a Dashen Bank account could get a credit based on the amount in the savings account. Asfaw said in partnership with Eagle-Lion System Technology, the Bank has turned the traditional deferred payment purchase scheme digital, during the official launching ceremony held at Sheraton Addis. Dubbed Dube Ale, the credit form is hoped to be an antidote to the infamous credit stopper quote, "Dube Yelem", according to Bank executives. Under Besufekad Getachew, the local EagleLion System Technology is working on easing the payment process by providing loans, hotel bookings and payments at gas stations through digital technologies. The company was incorporated two years ago with 15 million Br capital. Yonael Belete, manager for Boston Partners, said they have been working with the Bank for over two years, particularly on tech-based services. The App is expected to boost the customer base of business partners, enabling them to render a "buy now, pay later" method that would otherwise be constrained by the limited ability to pay upfront. Firehiwot Fisseha, marketing officer for Waryt Furniture, hopes the platform will allow customers who fall short to make a one-time payment.


Radar

Coffee Exports Bring in $1.5B in Third Quarter

Ethiopia has earned 1.5 billion dollars from coffee exports over the nine months of the fiscal year. The country had set a target to earn a little over a billion dollars by exporting 201,959tns of coffee during the same period. According to Adugna Debella (PhD), director general of the Ethiopian Coffee & Tea Authority, the export strategy continues to focus on major international markets, with the top 10 destinations, including Saudi Arabia, Germany, and the United States (SU), accounting...


Radar

Central Bank Holds Fourth Exchange Auction

The National Bank of Ethiopia(NBE) sold one dollar for 131.4961 birr in its recent auction. It was reported that 26 banks participated in this auction, which took place last week on Thursday. In a statement issued by the National Bank  following the auction, it was indicated that 70 million dollars was offered for the event. Subsequently, it was reported that 96 pc of the foreign exchange needs of the participating banks were met. In the previous auction, held 15 days ago, the bank had of...


Radar

City Registers 64,075 Births in Fiscal Year

The city has exceeded its birth registration target for the first nine months of the fiscal year, registering 64,075 children—71.15pc more than the set goal of 58,342. This success, with a registration coverage rate of 109.63pc, is largely attributed to the efficiency of the one-centre birth registration service system, which has been rolled out across health centres and courts. The total number of vital events registered, including births, adoptions, marriages, divorces, and deaths, reache...