Dashen Bank and EagleLion System Technology signed a Memorandum of Understanding (MoU) to establish a new mobile app, DubePay. The collaboration has a mission to shift the financial sector ecosystem which mostly serves large enterprises and only 10Pct of households, leaving the remainder without credit.

The application allows a DubePay user of any commercial bank to purchase items on credit from suppliers and merchants enrolled on the platform, including flight tickets, home appliances, apparels, electronic equipment, and others. Therefore, it was announced that it will provide modern services by removing traditional credit services.

Buy-now-pay-later (BNPL) is a short-term consumer financing method allowing customers to buy items and pay for them in installments with minimal or no additional costs.

Users can review their accounts by simply logging into the DubePay app and granting access to their account using the credentials supplied by the bank when the account was created. Bersufikad Getachew, Techpreneur and Owner of EagleLion, is known for his disruptive innovations in areas including education, hospitality, travel, and banking. He stated that “the application is accessible for both iOS and Android users and in five different languages.”

Once signed up, users may see their credit amount, minimum monthly payment, payment due date, payment summary, credit increment request, payment alternatives, and other features. Merchants can collect receivable payments and analyze transaction history.


At the FINTEX Furniture and Interior Design Expo held at Ethiopian Skylight Hotel, Melaku Alebel, Minister of Industry, stated that Ethiopians consume 70Pct of locally-made furniture. However, the bulk of raw materials used to manufacture locally are still imported. The expo, hosted by Prana Events and African Trade-Fair Partners showcased furniture, interior and construction finishing products, technologies, machineries, raw materials, accessories, and services to visitors and prospective business clients.

It was also stated that Ethiopia spent over USD78 million on furniture imports, especially from Turkey, China, and Malaysia during the previous five years. Semi-processed goods and raw materials are particularly imported. Melaku stated that the government is working towards using the nation’s forestry riches to guarantee supply to furniture and interior design operators.

Large furniture manufacturers such as Nazra, Salma, and Waryt took part alongside handicraft and bamboo furniture makers.

Along with the exhibition, the Ethiopian Furniture Manufacturers Association hosted a Panel Discussion, which has been a success in previous years, and other technical and professional concerns for collaboration and coordination were discussed.


Eye Equipment Handover by Ethio Lease

Following the successful completion of a lease agreement, at an event hosted at the Hilton Hotel Addis Ababa on March 25, Ethio Lease, Ethiopia’s first privately held equipment leasing firm, transferred a state-of-the-art Ophthalmic microscope worth more than ETB5 million to WGGA Eye Center.

The transfer of the ophthalmic microscope is part of a series of high-tech medical equipment leasing agreements made by Ethio Lease with medical and diagnostic centers throughout the country. The equipment enables WGGA Eye Center to perform advanced vision correction treatments and procedures for eye diseases and disorders, as well as diagnostics and comprehensive eye examinations.

Ethio Lease has been providing leasing services to alleviate equipment shortages in the agriculture, healthcare, energy, and food processing industries, as well as some in manufacturing. Since its inception, the company has signed leases worth USD25 million over the past two years, in support of the private sector and the country’s development while supporting key sectors, including healthcare, with a variety of crucial and high-quality diagnostic medical equipment, in combination with a full-service warranty including spare parts and maintenance.

“Today’s transfer of this state-of-the-art ophthalmic microscope is realistic proof of the solutions our firm offers to the private sector,” said Mr. Degol Gossaye, CEO of Ethio Lease, during the transfer ceremony.

“Working with Ethio Lease helped us boost our productivity and enabled us to be more flexible and creative with our resources,” stated Dr. Melaku Megistu , General Manager of WGGA Medical Services PLC. The advantages of this type of collaboration, particularly in our context, are enormous, and it should be encouraged and supported. “We are thankful for our partnership.”


The Ethio Health Exhibition and Congress took place as Ethiopia’s largest multi-disciplinary healthcare professional development forum with anticipations to gather in excess of 3,000 medical and trade professionals. It also provided an ideal platform for stakeholders to discuss various issues across the entire health care value chain while also providing opportunities for professionals to advance their competencies.


The Board of Directors of Ethio Lease SC announced that it has appointed Degol Gossaye as CEO as of January 27, 2022. Degol joined the capital goods leasing company as Vice President of Business Development and Marketing in August 2019. His predecessor Fregenet will be appointed to the Board and will continue to assist Ethio Lease’s management as a senior advisor to the CEO.


Top Employers Institute has officially announced the 2022 regional Top Employers with the Chinese giant recognised as a Top Employer 2022 in Northern Africa Region. The survey covers 6 human resource domains consisting of 20 topics including People Strategy, Work Environment, Talent Acquisition, Learning, Well-being and Diversity & Inclusion and more.


Marathon Motors launched Ethiopia’s very first electric vehicle charging station and the Hyundai Ioniq and Kona EV fully-electric automobiles at the Hyundai Marathon Motor Vehicle Assembly Plant in the outskirts of the capital. The two charging stations are capable of fully charging an electric Hyundai vehicle in 15 minutes and will give service to company employees already driving electrified Hyundai cars.


Abay Bank grew its gross profit to exceed last financial year by 80Pct to reach ETB1.15 billion—exhibiting a growth of ETB513 million.

The ten-year-old bank earned a total income of ETB3.4 billion, a 63Pct growth from last year with interest income constituting 72Pct. ETB2.3 billion was registered as expense, of which 54Pct were salary and benefits and 4Pct was disbursed as interest on deposits.

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