Three Banks Raise 70m Br for Dine for Nation

Oct 3 , 2020


Awash, Dashen and Abay banks have purchased tickets worth 70 million Br to attend a gala dinner Prime Minister Abiy Ahmed (PhD) will be hosting to raise funds for the redevelopment of tourist destination sites across three regional states. Awash and Dashen banks both bought three tickets each worth a total of 60 million Br, while Abay Bank bought one ticket for 10 million Br. Last month, Yinager Dessie (PhD), the governor of the National Bank of Ethiopia, called a meeting with the president of all commercial banks to discuss a fundraising gala dinner. Costing 10 million Br and five million Birr a plate for VVIPs and VIPs, respectively, Dine for Nation will be held to raise half of the six billion Birr needed to develop tourist sites at Gorogora in Amhara Regional State; Wonchi in Oromia Regional State; and Koisha in Southern Nations, Nationalities & People's Regional States.


Radar

Abyssinia Bank Strategic Moves Pay Off, Driving Profit Growth

The Bank of Abyssinia (BoA) enjoyed another profitable year, amassing 4.23 billion Br net profits, an increase of 10.5pc from last year. The Bank announced total assets of 222.3 billion Br, surging by 17.3pc. Total deposits mobilised through the year climbed by 33.97 billion Br to 192.51 billion Br, while loans and advances reached 167.7 billion Br. However, the bank exhibited a nominal decline in its foreign currency earnings totalling 424 million dollars. Earnings per share also showed a ma...


Radar

$100m Project Mulls Public Transportation Make-Over

A 100-million-dollar project aims to manufacture over 5,000 diesel-powered and electric public transport vehicles for the capital. The proposed project was launched hoping to replace the ageing vehicles and improve safety, efficiency and quality across the city's urban transport system. Last week saw an MoU inked between executives of Multiverse Enterprise Plc and Addis Abeba Minibus Associations and was held at Vamdas Entertainment near Megenagna. The agreement includes plans to replace 15,000...


Radar

Safaricom Soars with 6.1 million Customers

Safaricom Ethiopia reported significant commercial growth in the first six months of the 2025 fiscal year (April to September 2024), with notable increases in both mobile (GSM) and M-PESA services. The company's network and services reached a population coverage of 46pc, growing from 30pc in the previous year. This expansion was supported by the addition of over 1,000 network sites, bringing the total to more than 3,000 across the country. Safaricom Ethiopia saw a surge in its customer base,...


Back
WhatsApp
Telegram
Email