United Overhauls Management Strategy

Feb 9 , 2019


[ssba-buttons]

United Bank, one of the 16 private banks, has announced that it has launched its long-term strategic road map, becoming the fifth private bank to initiate the same strategy. The Bank hired Deloitte Consulting to redesign a 12-year management strategy, Strategy 2030, for an estimated cost of 21 million Br to 25 million Br. The global consulting firm took 10 months to prepare the strategy. In the road map, the Bank, established in 1998 and currently operating more than 244 branches, aspires to become one of the top five private banks in East Africa. The Bank decided to revise the strategic plan to capitalise on the growth opportunity that has presented itself in Ethiopia and the positive economic developments happening regionally and globally, according to the statement from the bank. The strategic document has undergone different draft approval processes by management and the board of directors and was finally approved for implementation with the goal of achieving regional prominence by 2030, according to the statement.


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...