Dashen Conveys Buy Now Pay Later

Jan 14 , 2023


[ssba-buttons]

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

Korenti, Agelegel Microfinance Ink EV Financing Deal

Korenti Auto Trading PLC has signed a strategic agreement with Agelegel Microfinance to provide accessible financing options for electric vehicle (EV) buyers. The partnership seeks to ease EV ownership by offering fair pricing and loan packages with affordable rates. The initiative supports Ethiopia's push for clean transport and aligns with national sustainability goals. Korenti's managing director said the move reflects the company's commitment to expanding electric mobility. Customers can now...


Radar

NBE Leads Week-Long Bank Supervision Application Forum

The National Bank of Ethiopia (NBE) is hosting a week-long Bank Supervision Application (BSA) User Group meeting that began on July 7, 2025. The BSA system, developed by a pan-African consortium of central banks including the NBE, automates supervisory work for financial regulators. NBE will take over the rotating BSA chairmanship in September. Opening the session, Frezer Ayalew, Director of Bank Supervision, stressed the need for modern tools to handle growing regulatory demands amid cyberse...


Radar

Six Fuel Companies Banned, Seven Warned, Authority Noted Illicit Activity

The Ethiopian Petroleum & Energy Authority has taken disciplinary action against 13 fuel distribution companies for illegally trading 2.8 million litres of fuel outside the digital system in the past two months. Six firms face a one-month suspension from the fuel import and trading market, while seven others received final warnings and must rectify their operations within a month. Director General Destawe Mekwanant (PhD) said the companies failed to monitor fuel stations and ensure proper...