Hibret Bank Broadens Choice for Online Ticket Booking


Hibret Bank Broadens Choice for Online Ticket Booking

Clients with accounts at Hibret Bank now have a broadened choice in buying tickets online, with the addition of services to online booking it has been offering in partnership with Ethiopian Airlines for four years. Last week its executives signed with GuzoGo, a travel booking application, allowing its clients to buy tickets online from a carrier of their choice and place using the Hibir Mobile Banking app. Travelers are not to be subject to service fees, and the tickets are issued immediately upon completion of the transactions. Sol-Get Travel is the parent company that owns the GuzoGo travel application and businesses such as Nahoo TV and Rosetta Real Estate. Earlier this month, it launched CashGo, a remittance and crowdfunding application, in partnership with Bank of Abyssinia. Hibret's services with Ethiopian Airlines remain as options, company officials said. Hibret Bank posted 893.9 million Br in net profit during the past fiscal year, and its paid-up capital also expanded massively by 40.7pc to 3.2 billion Br over the same period.


Radar

Abyssinia Bank Taps to Digital Loan Solution

The Bank of Abyssinia (BoA) is moving forward to provide banking solutions facilitating microloans. The Bank has hired an Indian-based tech vendor Newgen Software Company, that bagged the international bid on December 22, 2022. Over 10 companies have shown interest in the bid floated by the bank four months ago. The solution provider has committed to completing the project in six months with Yonas Daniel, regional manager for Newgen, and Menbereselassie Gebrekidan, procurement director at Aby...


Radar

ROLLING CREDIT

Bank of Abyssinia rolls out banking services on a truck around Meskel square in the capital. With less than half of Ethiopian adults having access to bank accounts, financial inclusion is a major issue. The central bank revealed in August 2022 that 8,944 commercial bank branches exist in the country. The 30 commercial banks currently in operation offer credit services to less than 400,000 customers charging an average of 17pc interest on asset-backed loans...


Radar

SPREADING HORIZONS

Left) Elias Woldu and Mesnbet Shinkute sign a Memorandum of Understanding on behalf of the Ethio-American and Addis Abeba Chamber of Commerce & Sectoral Association, respectively. Some estimates put the number of Ethiopian diaspora living abroad at over two million people, larger than the population of several small nations. Continued economic and political deprivation has forced many to leave the country for better opportunities. While migration to other countries is still high, the number...