Lion Bank Reveals Micro Loan App

Jan 1 , 2023

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.



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