District Gives Title Deeds for 28,000 Municipal Houses

FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers New TRADE AFRICA New

District Gives Title Deeds for 28,000 Municipal Houses

Jan 26 , 2019

[ssba-buttons]

The Addis Ketema District Office gave title deeds to 28,000 residents of municipal homes. The title deeds were transferred to the residents by Ephrem Admasu, Addis Ketema District head, last Friday in the presence of wereda officials. It helps the administration to control squatting in the city, while residents will have legal documentation over the houses they reside in, according to Ephrem. One of the 10 districts of the city, Addis Ketema covers more than seven square kilometres in the northern end of the city and has approximately 271,000 people, according to a 2011 estimate.

Radar

EthSwitch Sees Record Profit, Expands Digital Payment Reach

EthSwitch, the national switch operator, reported a record 1.4 billion Br gross profit for the fiscal year ending June 2025, a 34pc increase from last year's 1.06 billion Br. The performance was driven by a sharp rise in interoperable transactions, reflecting the country's growing embrace of digital payments. Person-to-person (P2P) transfers led revenue generation with 902.6 million Br, nearly half of total income, followed by ATM transactions contributing 825.1 million Br. Overall revenue cl...

Lion Bank Delivers Robust Results, Rewarding Shareholders

Lion International Bank S.C. posted a profit before tax of 1.8 billion Br for the last fiscal year, marking a 94pc surge from the previous year. The announcement was made during the bank's General Assembly held last week at the Sheraton Addis Hotel. After provisions and taxes, the bank registered a net profit exceeding 900 million Br, with shareholders earning 27pc per share. Deposits climbed by 23pc to 44 billion Br, up from 35.6 billion Br, while total loans and advances reached 36.2 billio...

Berhan Bank Lifts Earnings as Reforms Ease Forex Strain

Berhan Bank reported a 28.1pc growth in its latest fiscal year, buoyed by economic reforms and relaxed forex directives. The Bank's total deposits climbed to 44.5 billion Br by June 30, 2025, up 7.6 billion Br from the previous year. Net profit distributed to shareholders rose by 36pc, while total income reached 10.3 billion Br, marking a 61.4pc increase. Interest income accounted for nearly 59pc of total earnings, driven largely by the repeal of the National Bank's 70pc forex surrender rule...

News Alert