Bunna Bank and Kacha Digital Financial Services have launched a pre-salary loan service, Abol Demoze, aimed at addressing the financial needs of salaried employees.
This innovative service allows employees to access up to 33% or 50% of their salary digitally before payday through the Kacha mobile application. With a flexible installment repayment option, Abol Demoze is designed to provide financial relief during cash shortages, making payday stress a thing of the past.
Country Trading PLC, a company with 35 years of experience in real estate, trading, manufacturing, electronics, and duty-free retail, has opened its second duty-free store, Millennium Duty-Free, at the Skylight Hotel in Addis Ababa.
This new store follows the success of Country Trading’s first duty-free outlet at Bole International Airport, further establishing the company’s presence in Ethiopia’s market.
Abdusalam Kemal, Chairman of Hijra Bank’s Board, discussed the bank’s evolution from community-focused services to leveraging technology for greater impact. He stated, “Since our inception, we’ve shifted from serving the community to using technology to enhance our services.” Abdusalam noted that HalalPay reflects the bank’s dedication to its community and highlighted its significance.
Dawit Keno, CEO of Hijra Bank, described HalalPay as a valuable solution for individuals seeking interest-free financing. “This is a gift to the generation,” Keno remarked, emphasizing the platform’s potential to change financial transactions.
The National Bank of Ethiopia (NBE) has granted operational licenses to five new Independent Foreign Exchange Bureaus, marking a significant step in the country’s financial sector liberalization. The bureaus, which met the minimum requirements outlined in the NBE’s Foreign Exchange Directive No. FXD/Ol/2024, are:
Eagle Lion System Technology, a technology company in Ethiopia, has announced the launch of TeleTV, the country’s first online cinema platform, in collaboration with Ethio Telecom. The platform aims to modernize Ethiopia’s movie rental industry by allowing users to stream and rent Amharic films digitally.
The TeleTV service enables users to easily rent movies by downloading the app or visiting the website at www.teletv.et. Starting July 5th, 2024, two recently released Amharic films, “Kelelitu Sidist Sat” and “Tizita,” will be available for rent on the platform.
Mintesinot Nigussie Asfaw
Eden Teshome