Wegagen Bank has signed a memorandum of understanding (MoU) with Deluxe Properties to support diaspora communities in purchasing homes. The agreement was signed at Wegagen Bank's headquarters last week. Under the MoU, Wegagen Bank will provide financing to diaspora buyers of Deluxe Properties’ homes. The bank offers loans covering up to 80pc of the property's cost, with repayment terms spread over 25 years. The Bank stated the initiative supports the National Bank of Ethiopia's (NBE) mission to help diaspora associations achieve homeownership. Wegagen Bank’s Operations CEO, Kidane G/Mariam, and Deluxe Properties’ CEO, Goytom Birhanu, signed the agreement, aiming to make real estate more accessible and affordable for buyers, particularly those investing in under-construction properties.
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