Enat, TDP to Back SMEs

Dec 10 , 2018


[ssba-buttons]

Enat Bank, one of the youngest banks in Ethiopia, and the Trade & Development Bank (TDB) have reached an agreement to support export-oriented Small & Micro Enterprises run by women. The TDB will give a guarantee fund to Enat and the loan guarantee fund will be disbursed for the entrepreneurs through an association like Ethiopian Women Exporters Association. “The agreement is aimed at helping Enat Bank scale up its impact, share risk and reach more SMEs,” says Admasu Tadesse, TDB president. The agreement enables SMEs to gain advice and credit enhancement facilities, according to their agreement. TDB launched the program in Zimbabwe in October and plans to expand the program to other member states, including Burundi and Kenya. Established in 1985, TDB, formerly the PTA Bank, is a multilateral, treaty-based development financial institution with assets of five billion dollars.


Radar

Bank of Abyssinia Signs Partnership with Droga Cooperative

Bank of Abyssinia has entered into a partnership agreement with Droga Health & Financial Savings and Credit Cooperative to provide financial support and services for its members. The agreement was signed yesterday at the Bank's headquarters. The deal aims to strengthen collaboration between the two institutions, enabling cooperative members to access tailored banking services. It was signed by Wosenyeleh Abera, Deputy CEO for Customer Relations and Marketing at the bank, and Zelalem Yilma...


Radar

Wegagen Introduces Real Time SWIFT Tracking

Wegagen Bank has launched a new mobile app feature enabling customers to track international SWIFT payments in real time. The bank is the first in Ethiopia to introduce an online SWIFT payment tracking system. By integrating SWIFT Global Payment Innovation, customers, particularly those involved in import-export trade, can monitor cross-border transactions using a Unique End-to-End Transaction Reference (UETR) directly from their smartphones. To use the service, customers select the SWIFT...


Radar

National ID, Zambia Partners to Expands Program Reach

The National ID Program has signed an agreement with Zambia's counterpart to provide consulting services for the development of software that will issue digital IDs. It is the first time the institution has extended its expertise beyond national borders, a sign of growing recognition for its rapid progress. Program officials described the partnership as a milestone in their effort to position themselves as a regional player in digital transformation. The collaboration is expected to center...