Zemen Bank Rolls Out Cash Deposit ATMs

May 14 , 2022


Zemen Bank has deployed automated teller machines (ATM) that enable clients to deposit cash. The two machines are installed at the Bank's main branch on Tito Street in the Casanchis and its banking centre on Africa Avenue (Bole Road). The state-owned Commercial Bank of Ethiopia was the first to deploy the technology in late 2019. Zemen netted 953 million Br in profits last year, a 28pc increase from its previous performance. The Bank saw its assets climb 36pc to 25.1 billion Br over the same period. Its paid-up capital stood at 2.75 billion Br at the end of the last financial year, a little over half of the central bank's updated minimum threshold. Zemen's executives are awaiting the finalisation of construction on a 1.2 billion Br, 31-storey headquarters building in Senga Tera, Addis Abeba's financial district. Hibret and Nib banks have already inaugurated their buildings neighbouring Zemen's on Ras Abebe Aregay Street.


Radar

DREARY LANES

A street lamp around Addis Abeba Stadium melds into the concrete backdrop emblematic of the capital's ageing infrastructure. Over the past few years, Ethiopia's electric grid has been subject to destruction and theft, subjecting the public treasury to hundreds of millions in losses. Nearly half of the country's population does not have access to electricity. A series of projects by the World Bank has contributed to the slight but essential upgrade to the nation's grid, including a 500 million do...


Radar

PLUMPY HUMPS

A trio of donkeys drag along the main road in front of Menlik School around the Arat Kilo area. While the four-legged domestic animal is a venerated member of the Ethiopian labour force, its skin and meat are increasingly valued in the international markets. Rhong Chang, a donkey slaughterhouse operating in Assela Town, Oromia Regional State reopened its services after a seven-year break two years ago. Public outroar has often accompanied the entrance of donkey abattoirs into Ethiopia since anot...


Radar

IMPROMPTU AISLES

A bustling market emerges under a bridge in the boroughs of the Bole Michael area. Addis Abeba City Administration has launched a series of aesthetic initiatives embalmed in themes of beautification and urbanisation that have removed thousands of shops built with makeshift tents. Above a quarter of Addis Abeba's labour force is engaged in the informal economy, which while often associated with connotations of illegality, remains a sizeable employer in emerging economies across the world. Calibra...


Back
WhatsApp
Telegram
Email