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.


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Abyssinia Bank Taps to Digital Loan Solution

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ROLLING CREDIT

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SPREADING HORIZONS

Left) Elias Woldu and Mesnbet Shinkute sign a Memorandum of Understanding on behalf of the Ethio-American and Addis Abeba Chamber of Commerce & Sectoral Association, respectively. Some estimates put the number of Ethiopian diaspora living abroad at over two million people, larger than the population of several small nations. Continued economic and political deprivation has forced many to leave the country for better opportunities. While migration to other countries is still high, the number...