Lion Bank Reveals Micro Loan App

Jan 1 , 2023


[ssba-buttons]

Lion Bank clients enjoy accessing microcredits through an application dubbed Alegnta. The App has already started giving service to the Bank's employees starting four months ago, providing loans without collateral at a maximum of 2,000 Br. Bank President Daniel Tekeste implied the technology would provide relief when pockets are empty during the last days of the month. With 12,000 shareholders, the Lion has a paid-up capital of 2.6 billion Br, boasting 280 branches. Daniel revealed the micro-credit provision application at a Memorandum of Understanding signing ceremony between Lion Bank and Shirshir Addis Business Group. The co-founder and CEO of Shirshir, Bereket Baysa is excited about the new partnership. The company exports coffee, cattle, and oil seeds and imports cars and textiles. It has expanded its services with a 2,000hct farm in Gambella Regional State. Bereket also announced the construction of a 46,000 sqm electric car assembly plant in Debre Birhan. He said that they are working on substituting the need for fuel with the plant expected to hire 3,000 people.


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...