ZamZam Bank Strikes a Pact to Digitise Pilgrimage Packages


ZamZam Bank struck a deal with Link All Technology S.C. for a product that links to travel agencies and hotel bookings during travels to Saudi Arabia last week. Dubbed Guzo le-Umrah, the product is expected to assist customers who have saved in Mudarabha Hajj & Umrah accounts to facilitate pilgrimage arrangements. Kedir Bedewi, the vice president of the Bank, pointed out that the expansion of branches has to go in tandem with digital banking to warrant operational efficiency. Over 400,000 people from Ethiopia are estimated to yearly partake in the journey to Mecca in Saudi Arabia. Yenus Abdi, the CEO of the tech Company, and Melkia Bedri, president of the Bank, signed the memorandum of understanding at the Al-Nahari Hotel, Ethio-China Street.


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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...


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$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...


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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,...


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