Dashen Bank, one of the long-established and most profitable private financial firms in the country introduces easy way for access to finance for those who are neglected.
The new scheme that introduced in collaboration with EagleLion System Technology, a ‘Dube Pay’ platform developer would allow customers to use the app and acc credit services for goods that they shall not possess with in a single payment.
As per the short term loan scheme customers who are backed by different guarantees like salary or other collaterals shall own goods or services they wanted and settle their arrear gradually.
The bank that is pioneer on introducing financial technologies in the country said that it will continue providing modern and suitable financial products for the market.
Experts stated that the new scheme will allow expanding access to finance in the country that is one of the poorest among peer countries in Africa.
Frezer Ayalew, Director for Banking Supervision Directorate of National Bank of Ethiopia, recently said that there is about 350,000 credit accounts in the country which is a drop in the ocean when compared with the 72.3 million deposit accounts registered in the various financial firms.
Of the stated credit accounts, 44 percent of the borrowers are duplicating borrowers of the entire banking sector credit.
When it comes to the number from the borrowers 0.6 percent only takes the great chunk of portfolio.
Through the new scheme trading houses shall promote their products and services for potential customers on the ‘Dube Pay’ platform, while customers who want to possess the commodities or services shall access it on credit scheme.