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Wegagen Bank, Gift Real Estate Partner to Promote Diaspora Homeownership

Jun 29 , 2025

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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 underlined the initiative’s role in enabling citizens to become homeowners through better financial access. The partnership is said to be a step forward in addressing Ethiopia’s growing housing demand while attracting foreign currency through diaspora engagement.

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