Ethiopia: Hibret Bank's 37-Storey HQs Inaugurated
Hibir Tower, Hibret Bank's headquarters, a 37-storey building built at a cost of 2.8 billion birr, located in the financial district of Addis Ababa, Ethiopia, has been inaugurated.
Ethiopia: Hibret Insurance Achieves a 60% Profit Increase
Hibret Insurance has reported a net profit of Birr 525.27 million for the 2023/24 fiscal year, reflecting a 60.62% increase over the previous year. This was announced at the company’s annual general meeting of shareholders held this week.
Ethiopia: Hibret Insurance Reports Billion-Birr Profit in 2024/25 Fiscal Year
Hibret Insurance stated that it recorded a profit in the billions of birr during the 2024/25 fiscal year, according to a report presented at the company’s annual shareholders’ meeting.
Ethiopia: Hijra Bank and Rays Micro Finance Enter Agreement on Sahaypay
Hijra Bank agrees with Rays Micro Finance to utilize Sahaypay mobile money, the fastest growing mobile money system in Ethiopia. The customers of the two financial institutions will be able to transfer finance once the agreement starts being implemented. Rays Micro Finance implements Real Time Gross Settlement System (RTGS) to transfer money across banks.
Rays Microfinance Institution S.C. was established on in 2014. It finances goods, machineries, equipment, livestock trade, agriculture, construction, and small industries. Hijra Bank currently has 250,000 customers.
Source: The Ethiopian Herald
Ethiopia: Hijra Bank Becomes ECX’s 20th Payment Partner
Ethiopian Commodity Exchange (ECX) and Hijra Bank signed an agreement to partner on payment service systems. Hijra has become ECX’s 20th payment system partner. ECX is working to create modern and reliable payment system with a view to building a swift and advanced payment system. It also aims to make the payment system more accessible to traders including farmers, sellers, and buyers.
