Ethiopia’s largest bank to open branches in Sudan and Somaliland

[Jacaylbaro]

August 20, 2008 (ADDIS ABABA) — The state owned commercial bank of Ethiopia(CBE) is considering of opening branch offices in neighboring Sudan and Somaliland where bilateral trade relation is thriving in a higher rate.

 

“CBE wants to open branches offices in southern Sudan and Somaliland capital towns of Juba and Hargessa” Ayele Chernet, public relation within the bank told reporters.

 

The Sudan, Somalia and Somaliland are the top three African nations that import Ethiopian products on substantial amount.

 

According to the official CBE wants its share from the growing market along the border towns of Somaliland and also in Juba where oil companies are vying with each other for hydro carbon resources.

 

Business transaction in Juba is growing with new oil discoveries and the mushrooming exploration projects booming.

 

Currently a number Ethiopians in search of better jobs are migrating to Sudan, a country where relatively a fast economic growth is registering.

 

The 66 year old Commercial Bank of Ethiopia is the largest bank in Ethiopia that has about Birr 49 billion in assets, accounting for perhaps somewhere between 70% and 90% of the commercial banking market.

 

The bank has some 8000 employees who staff the headquarters and 205 branches positioned in the main cities and regional towns, including 45 branches in Addis Ababa.

 

1958 the State Bank of Ethiopia established a branch in Sudan that the Sudanese government nationalized in 1970.

 

 

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[Hassan6734]

I had no idea that famine stricken Ethiopia had a bank, let alone a national bank.

[Jacaylbaro]

You are too behind my friend or you are in a state of denial .........

[Hassan6734]

They are very poor, their national bank depends on how much food stamps they receive each year.

 

90% of them don't even have toilets and defecate all over the streets and their own backyards is their place of toilet.

 

They are a very dirty people, who do not have a bath nor wash their hands.

[Jacaylbaro]

That has nothing to do with having a national banks sxb.

 

Every existing country has a National Bank regardless of the condition of its people.

[NGONGE]

Originally posted by Hassan6734:

They are very poor, their national bank depends on how much food stamps they receive each year.

 

90% of them don't even have toilets and defecate all over the streets and their own backyards is their place of toilet.

 

They are a very dirty people, who do not have a bath nor wash their hands.

And they are occupying YOUR country.

[nuune]

^^^ Also 70 yrs old Ethiopian Airline, which flies all over the world

 

 

And who said the country is poor, it is not, you gota see it on your own eyes and travel between their highlands

[Fabregas]

. [/qb]

And they are occupying YOUR country. [/QB]

 

and n0t ur country too?

[ilax]

Originally posted by J.a.c.a.y.l.b.a.r.o:

[QB] August 20, 2008 (ADDIS ABABA) — The state owned commercial bank of Ethiopia(CBE) is considering of opening branch offices in neighboring Sudan and Somaliland where bilateral trade relation is thriving in a higher rate.

 

Is it a recognition of the so call 'Somali land ; or purely economic relation?. Yes, I know, Ethiopia has some 'dilomatc' presencei Hargeisa and also ethiopian Airline flies to Hargiesa on weakly basis.

I see , Ethiopia is striving to bush hard for the self-proclaimed SL, but this is part Meles'school of thought of 'two states solution, for the political turmoil of Somalia.

However, opening Ethiopian commercila bank in Hargeisa won't add that much on the fading self-independence.