However, this is false: the bank confirmed it does not provide this kind of loan service and warned customers of social media scammers. Written in Amharic, the post reads: "How many of us know that Ethiopian Commercial Bank has begun loans via mobile banking? "The bank facilitates loans through mobile banking services from 10,000 birr to 250,000 birr (from $180 to $450). The state-owned CBE is Ethiopia's largest bank and mobile banking is part of the services it offers. Scam postThe CBE has repeatedly warned customers on social media about fraudsters targeting the bank’s mobile banking division.

Source: Ethiopian News July 28, 2023 19:01 UTC