Farmers Foresee Digital Payment Transactions

Dec 24 , 2022


Farmers are set to buy agricultural inputs such as fertilisers through the digital payment systems of the Commercial Bank of Ethiopia (CBE). The Bank has partnered with the Oromia Cooperatives Agency to enable the payment system, with officials signing an agreement last week. According to the officials, the system allows farmers to use CBE mobile banking and CBE Birr to buy inputs from the Agency and Unions in their respective areas after depositing 30,000 Br, allowing transactions without bank accounts or visits to CBE branches. The Bank's President, Abe Sano, said the system would help expedite the transactions in the agricultural sector, pledging to digitise the scheme fully next year. CBE has been providing loans to farmers in the region to purchase agricultural inputs for nearly three decades, with the total value of loans distributed now reaching 36 billion Br.


Radar

Standing Committee First Visit to Private Foreign Firm Garners New Era

Safaricom Ethiopia stated that it has become the first private foreign company to host a visit by a standing committee from the House of People's Representatives, with the Democracy Affairs Standing Committee touring the company's operations last week. Wim Vanhelleputte, CEO, presented the company's half-year results, showcasing growth in mobile and M-PESA services. Notable achievements include expanding 4G coverage to 46pc of the population, acquiring over 6.1 million active subscribers, and se...


Radar

Goh Mortgage Bank Registers 12-fold Gross Profit Increase

Goh Mortgage Bank reported gross profits of 83.4 million Br, a twelve-fold increase from last year's 6.4 million Br. At its general assembly last week, the bank announced total deposits of 1.02 billion birr, a 12pc increase from 30,530 deposit accounts, which grew by almost 40pc. Outstanding loans reached 1.55 billion Br, with 60pc directed to the construction sector and 19pc towards export-import activities. The bank mobilized 2.3 million dollars in foreign exchange during the year. Girum Ts...


Radar

Garment Maker Invests 200 million Br in Worker Welfare

Shints ETP Garment PLC, a South Korean enterprise operating inside Bole Lemi Industrial Park, inaugurated a 200 million Br recreational facility and daycare center. This state-of-the-art facility includes a tennis court, basketball court, soccer field, gym, and daycare center, with hopes of enhancing employee satisfaction and productivity. The company currently provides dormitory services for 5,500 workers and primary education for their families and plans to expand its dormitory capacity to 11...


Back
WhatsApp
Telegram
Email