Ethiopia: Forfeit for Future

The start of registration for the Addis Abeba Saving Houses Department Enterprise's (AASHD) 40/60 housing scheme, on Monday, August 12, 2013, was marked by long queues throughout various branches of the Commercial Bank of Ethiopia (CBE).

Tadele Ayele, 39, a tax collector at Gulele District lives in a kebele house in Wereda 7 of the same District. He registered for a two-bedroom mini-apartment, on Tuesday, at the CBE's Arada Branch. He is expected to pay 1,575 Br a month for five years, saving a total of 100,000 Br during that time. He and his wife each make 2,400 Br a month; he likens the commitment to donating blood.

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