Rammis Bank Holds First General Assembly

Oct 2 , 2021


Rammis Bank, which will provide interest-free banking services, held its first general assembly last Saturday, announcing it has successfully met the minimum capital requirements enforced by the central bank. Rammis has collected a paid-up capital of 724 million Br, almost quarter of a billion higher than the minimum requirement that is applicable until the end of this month. It is one of dozens of banks under formation that were given a three-month period to start operations with half a billion Birr in capital and reach seven billion Birr within a seven-year period. Once securing a license, it will be the third interest-free banking service provider, next to ZamZam and Hijra. There are 20 private banks in Ethiopia, with the latest entrant being Goh Mortgage bank.


Radar

BLOOM-MELON

Addis Abeba strives to be a city of distinction with a glamorous look. But lately, most parts of the city are overwhelmed by informal street vendors. Underneath the bridge around La Gare, commonly known as Lagahar, a street vendor sells pieces of watermelon from a mobile pushcart. Watermelon is a flowering plant species with more than 1,000 varieties worldwide. It lowers high blood pressure and cholesterol levels when taken regularly. Ethiopia exported 483tns of watermelon to Djibouti in 2018, w...


Radar

THE CITY'S PULSE

Since its establishment during the reign of Emperor Haile Selassie, Meskel Square, on the interseciotn of Africa, Ras Mekonen and Jomo Kenyatta avenues, has been one of the landmarks of Addis Abeba. Having been the site for public gatherings, rallies and festivities like (Meskel celebration), the Square laid out a somewhat classy atmosphere to the city and has become a recreational centre with a mesmerizing look. Following the Beautifying Sheger Initiative, the refurbishment of the Square was in...


Radar

SOOTHING RIDES

Addis Abeba's Stadium neighbourhood has been home to driving and cycling trainees for decades. Homeless children favour the location for its open spaces and high traffic. They ride rented bikes around on a school day. Pangs of hunger are numbed out by riding in circles on top of colourful bikes for the children. They were escaping vicious cycles of poverty on top of bicycles, if only for minutes...