Wegagen Bank has inaugurated its tallest Headquarters
building, the most distinctive figure in Addis skyline with
its elegant architectural design built in the melting
pot of the city opposite to Addis Ababa Stadium.
Reinventing the iconic
The New Light in the Sky
Prosperity Business Women Account
This account is intended for women engaged in businesses in which they will be entitled to credit facilities for their businesses depending on their saving amount.
For working capital, the account holder should initially deposit 20% and additional 20% over a period of 6 months or more. Then, the Bank shall provide loan for the remaining 60% against a collateral or guarantee of NGOs that work for women economic empowerment.
To acquire vehicles and machineries or equipment, the account holder should initially deposit 20% and additional 20% should be saved over a period of one year or more and then, the Bank shall provide loan for the remaining 60% of the value.
To acquire business premises, the account holder should initially deposit 10% and additional 20% should be saved over a period of one year or more and then, the Bank shall provide loan for the remaining 70% of the value.
All the requirements for account opening and credit facilities stipulated in the Bank’s procedures will also apply.
The financed assets shall be held as collateral.
Features and Benefits
The customer shall maintain both
saving and current account simultaneously; the latter being used for check payment.
Higher interest rate will be
calculated on the saving account.
The interest rate for the loan
is as per the Bank’s credit terms and tariffs.
For those women who are not able
to meet the minimum saving amount and lack collateral backing, the Bank will provide finance for working capital against NGOs guarantee at least equivalent to 80% of the loan.