Policy Bank Allows Machine Rentals


[ssba-buttons]

The Development Bank of Ethiopia lifted the ban on the rental of leased farm machinery to third parties for agricultural mechanisation. The system enables borrowers to own the machines when they complete paying the loan. But borrowers have not been allowed to rent the machines to a third party before. “This procedure is now changed,” said Teshome Alemayehu, vice president of the Small & Medium Enterprises Financing at DBE. “In order to boost the agriculture mechanization, the Bank lifted the ban.” Currently, the borrowers are mainly farmers unions. “The bank facilitates lease financing for individuals who want to rent or buy the machines,” said Teshome. “We have full capacity to deliver service to those who want the lease finances.”


Radar

Construction Sector Faces 'Serious Trouble,' Minister Warns

The construction industry in Ethiopia is in "serious trouble," said Chaltu Sani, Minister of Urban & Infrastructure Development, citing major challenges with finance, competitiveness and material costs. Speaking at the opening of the BIG 5 Construct Ethiopia expo and the inaugural East African Infrastructure & Water Expo at Millennium Hall last week, Chaltu stressed the need for concerted efforts from government, private sector, and international partners to support the 67 billion dol...


Radar

Wegagen Bank, Gift Real Estate Partner to Promote Diaspora Homeownership

Wegagen Bank S.C. and Gift Real Estate Plc. signed a Memorandum of Understanding (MoU) on June 23, to offer housing loans for homebuyers, with a special focus on the Ethiopian diaspora. The agreement enables eligible diaspora members to access loans covering up to 80pc of a home's value at reasonable interest rates. The bank's Deputy CEO Kidane Gebreselassie noted the deal will promote the real estate sector and expand homeownership options. Founder and CEO of Gift Real Estate, Gebreyesus Igata...


Radar

Jimma University Signs Sports Science Agreement to Strengthen National Programmes

Jimma University has signed a four-party Memorandum of Understanding (MoU) with the Ethiopian Academy of Sciences, Derartu Tulu Sports Training & Research Institute, and the Oromia Youth & Sport Bureau to advance Ethiopia's sports science and training capacity. Signed on June 26, the agreement includes joint research, shared facilities, and hosting of national and international competitions. It is expected to strengthen youth development, public health, and national pride through coor...