Ethiopia: Wegagen Bank Launches Digital Loan Service

Wegagen Bank has introduced a new digital loan service called “Efoita,” designed to benefit various segments of society.

The service is primarily intended to support business expansion and provide working capital for entrepreneurs in micro, small, and medium enterprises. It also aims to offer emergency loans to salaried employees.

The launch of this digital loan service is intended to provide financial access to many individuals with entrepreneurial ideas who lack the funds to realize their dreams.
To benefit from the digital loan service, customers must first open an account at the Bank. They can then download the Efoita mobile application from the Play Store and submit their loan requests through the app.

Wegagen Bank currently operates 438 branches nationwide, with 388 ATMs, 436 payment processing (PAS) machines, 4,700 agents, and offers internet and mobile banking digital services.

Source: Sheger FM 102.1

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