Former Ethiopian Army Bank to be established.
We have heard that the former Ethiopian Army Development and Relief Association, which has been in existence for more than three years, is planning to establish a bank to strengthen the association’s economy and increase the benefits for its members.
Berhanu Amare, 50, former president of the Ethiopian Armed Forces Development and Relief Association, told Ethio FM that for the past 27 years, the former Ethiopian army has been under increasing pressure to grow economically.
He said the bank, which will be formed by the former Ethiopian Army Development Association with more than one million members, will be called “Admas Microfinance”.
The president said the establishment of the bank will be announced next Sunday in the presence of the government and members of the association.
The former Ethiopian Army Development and Relief Association is involved in poultry farming, hotel training, security services, agriculture, and other activities to strengthen the association.
The association, which has 279 branches in Addis Ababa and other regional cities, said the establishment of the bank will help its members more.
During a telephone interview with our site, the President informed us that Admas Microfinance and other issues will be announced next Sunday.