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Press release on Mother Bank and Ride mutual agreement

#Ethiopia | Mother Bank and Hybrid Designs Plc have a good working relationship. Based on this and taking into account the economic impact of Ride drivers due to the economic downturn in the country, the Bank has provided various loan services that will benefit Rid drivers. These types of loans are maternal vision, maternal relief and maternity access.

Mother Vision:

This loan framework applies to visionary drivers enrolled in Ride and the loan will be used to purchase a new car. Therefore, to benefit from this loan, you need to save up to 30 percent of your car purchase per year. The loan period is up to five years.

Mother relief relief-

This loan is used to cover the annual tax, car repairs and related expenses for Rid drivers who will benefit from this loan. To be eligible for this loan, drivers must be a subscriber to Mother Bank for at least three months and have a permanent savings. With this loan service, riders can get loans of up to 10,000.00 (ten thousand) birr.

Mother-in-law

Rid drivers using this loan service can borrow up to 1000.00 birr (one thousand birr) for indirect operation. This is a loan that drivers use when providing Ride transportation services, where no interest rate is considered and only one birr per day is charged for the loan.

About Hybrid Designs

Hybrid Designs Plc was founded by a young entrepreneur, Samrawit Fikru, in 2007. It has contributed to solving the transportation problem, which is a major problem in Addis Ababa. In the process, it has updated the sector and introduced Ride. In the process of alleviating the city's transportation problem, the enterprise has created more than 50 billion birr worth of jobs in the country and created job opportunities for many.

About Enat Bank

Eleven years ago, it was founded by 11 female visionaries, especially in the country's banking system. The bank has more than 18,000 shareholders, of whom 64 percent are women. The bank's net profit last year was over 289 million birr and its paid up capital is over 1.5 billion birr.