Enat Bank Share Company financed Ride hailing vehicles started giving services on Thursday.
The new 2022 Model Mitsubishi automobiles were purchased by a loan facilitated by Enat Bank, according to the statement from Hybrid Designs, Ride parent company.
To secure this loan, drivers have deposited 30% of the loan at Enat Bank and the repay back period is five years.
Ermias Andargie, President of Enat Bank said, “The loan provision will be continuous to address other diligent Ride service providers,” adding, “There’s also a plan to provide mortgage.”
Samrawit Fikru, CEO of RIDE Ethiopia called Ride members to open a saving account at Enat Bank to become beneficiaries of long and short term loans.
RIDE as well as its parent company Hybrid Designs, was founded by an IT professional and entrepreneur, Samrawit Fikru. She is one of the Ethiopian women who have created and succeeded in their own career through determination and hard work.
The establishment of Enat Bank marks a unique point in Ethiopian and African banking history. Women’s own 64 percent of the bank, and compose many major leadership positions from the senior bank management to the Board of Directors.
The founders succeeded in their vision through commitment and hard work, and are prepared to continue to nurture the bank. The founders believe after Enat succeeds in Ethiopia, it can be expanded across Africa.