First mortgage bank receives homely reception

In the presence of several ministers, governmental officials and the banking community, Goh Betoch Bank, the first private mortgage bank, held its official opening ceremony on Monday October 25, 2021 at the Sheraton Addis.
The inauguration ceremony was attended by the organizers of the bank, Chaltu Sani, Minister of Urban Development and Infrastructure, Aysha Hussein, Minister of Water Irrigation and Lowland Environment and Lense Mekonnen CEO of Federal Land Bank and Development Corporation.
The mortgage bank that received its license from the National Bank of Ethiopia in August is expected to be an alternative source of finance for the housing scheme, which usually access less than 10 percent from the total fresh loans in the financial industry.