NBE Drafts Bill to Append Movable Assets as Collateral

Feb 23 , 2019

The National Bank of Ethiopia (NBE) announced that it has drafted a new proclamation that will enable banks to take movable assets as collateral for loans and advances. The bill is on its final stages and will be legislated soon, according to Yinager Dessie (PhD), governor of the National Bank of Ethiopia. “It is expected to ease the problem of access to finance,” Yinager told journalists last week during his first media briefing since he became a governor. Movable assets such as vehicles and equipment can be used as collateral to access loans from the financial institutions. In the existing procedure, financial institutions have been taking fixed assets of the borrowers as a guarantee with the most probable value of a loan or an advance recoverable from the sale of the collateral during the loan or advance.



A street lamp around Addis Abeba Stadium melds into the concrete backdrop emblematic of the capital's ageing infrastructure. Over the past few years, Ethiopia's electric grid has been subject to destruction and theft, subjecting the public treasury to hundreds of millions in losses. Nearly half of the country's population does not have access to electricity. A series of projects by the World Bank has contributed to the slight but essential upgrade to the nation's grid, including a 500 million do...



A trio of donkeys drag along the main road in front of Menlik School around the Arat Kilo area. While the four-legged domestic animal is a venerated member of the Ethiopian labour force, its skin and meat are increasingly valued in the international markets. Rhong Chang, a donkey slaughterhouse operating in Assela Town, Oromia Regional State reopened its services after a seven-year break two years ago. Public outroar has often accompanied the entrance of donkey abattoirs into Ethiopia since anot...



A bustling market emerges under a bridge in the boroughs of the Bole Michael area. Addis Abeba City Administration has launched a series of aesthetic initiatives embalmed in themes of beautification and urbanisation that have removed thousands of shops built with makeshift tents. Above a quarter of Addis Abeba's labour force is engaged in the informal economy, which while often associated with connotations of illegality, remains a sizeable employer in emerging economies across the world. Calibra...