State Giant CBE Inaugurates $303m HQ


State Giant CBE Inaugurates $303m HQ

Nearly 304 million dollars and six years of construction later, the state-owned Commercial Bank of Ethiopia (CBE) has inaugurated its new headquarters in Addis Abeba. The 48-storey building on Ras Desta Damtew Street was erected by the China State Construction Engineering Corporation Ltd. Laying on an 18,000sqm plot, the HQ comprises three separate buildings. The main edifice, which is officially the tallest building in the country, contains four underground layers that will serve as parking space with the capacity to hold 1,500 vehicles each. The other two structures are 11 and 13 storeys high. Altogether, the headquarters boast a floor space of 150,000sqm.  The CBE's executives plan to lease the 47th floor to an upscale dining establishment and open the highest floor to the general public as a destination for sightseeing, offering a 360 degree view of the capital. The state-owned giant is the latest to open a headquarters in the Sengatera area, known as the Wall Street of Addis Abeba. Nib and Hibret banks have also inaugurated their respective HQs, with Zemen Bank expected to do the same in the coming months.

[ssba-buttons]

Radar

Bank of Abyssinia Signs Partnership with Droga Cooperative

Bank of Abyssinia has entered into a partnership agreement with Droga Health & Financial Savings and Credit Cooperative to provide financial support and services for its members. The agreement was signed yesterday at the Bank's headquarters. The deal aims to strengthen collaboration between the two institutions, enabling cooperative members to access tailored banking services. It was signed by Wosenyeleh Abera, Deputy CEO for Customer Relations and Marketing at the bank, and Zelalem Yilma...


Radar

Wegagen Introduces Real Time SWIFT Tracking

Wegagen Bank has launched a new mobile app feature enabling customers to track international SWIFT payments in real time. The bank is the first in Ethiopia to introduce an online SWIFT payment tracking system. By integrating SWIFT Global Payment Innovation, customers, particularly those involved in import-export trade, can monitor cross-border transactions using a Unique End-to-End Transaction Reference (UETR) directly from their smartphones. To use the service, customers select the SWIFT...


Radar

National ID, Zambia Partners to Expands Program Reach

The National ID Program has signed an agreement with Zambia's counterpart to provide consulting services for the development of software that will issue digital IDs. It is the first time the institution has extended its expertise beyond national borders, a sign of growing recognition for its rapid progress. Program officials described the partnership as a milestone in their effort to position themselves as a regional player in digital transformation. The collaboration is expected to center...