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Ethio telecom Introduces Loyalty Scheme, Online Retail Platform

Apr 30 , 2022

The state-owned Ethio telecom has launched a customer loyalty programme and an online retail platform ahead of impending competition from Safaricom Ethiopia Plc. The 'Ashamtele' customer loyalty programme allows subscribers to win incentives and rewards based on points collected from using telecom services such as voice, internet and SMS. Subscribers can use the 'Telegebeya' web-based sales platform to buy mobile devices, modems, and broadband terminals. The platform is being rolled out in Addis Abeba, where users can pay for their products through Telebirr and have the goods delivered. The state-owned operator's Telebirr mobile money platform has garnered over 17 million subscribers since launch in May 2020. It has facilitated transactions worth over eight billion Birr.

Radar

Electricity Bills Get the VAT Jolt

The new Value Added Tax (VAT) has begun implementation on electricity consumption and various service fees affecting customers who use more than 200 kilowatt hours of electricity per month. Based on a directive from the Ministry of Finance, the tax will be applied to the excess amount of electricity consumption above 200 kilowatt hours. The Ethiopian Electric Utility (EEU) began implementing the VAT on bills starting from November though both prepaid and postpaid customers will have to pay V...

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Radar

Gadaa Bank Expands Reach, Faces Lending Constraints

Gadaa Bank closed its first full fiscal year of operations with a net profit of 90.2 million Br. The 18-month-old Bank held its annual general assembly at Millenium Hall on Africa Avenue last week where the board announced that during the year, the Bank opened 15 branches and now has 85 operational branches. “Due to recently enacted policy measures on credit by NBE and unmet resource mobilization during the fiscal year, the Bank was unable to make loan disbursements,” stated Wolde...

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Radar

Oromia Bank's Branch Expansion Weighs on Profits

Oromia Bank reported a 47pc decline in net profit to take in 840.9 million Br for the past fiscal year. Interest income grew by 21pc to reach 7.19 billion Br while personnel expense grew by 36pc to hit 3.16 billion Br. The opening of 72 new branches, bringing the total to 575, led to a four percent growth of deposits to 56.4 billion Br. The profits are “unsatisfactory against our ambitious moves,” said Assefa Seme (PhD), board chairperson. “The deviation is primarily attributed to our aggr...

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