Commercial Bank of Ethiopia (CBE), organized a consultative meeting aimed at removing market barriers.

Leather and textile exporters who took part in the meeting brought up bottleneck challenges they exhibited with regards to export. These included shortage of foreign currency, access to finance and complex banking service delivery. While the leather companies mentioned decline in prices of leather goods on the global market as a challenge for their export market, textile companies raised problems related to supply of raw materials.

Representatives of the Ministry of Agriculture present at the meeting responded to questions raised pertaining to them, vowing to meet the companies’ demand for raw materials. They also called on financial institutions to make loans available for the companies.

Representatives of the Ministry of Trade and Industry, for their part, acknowledged the challenges raised by the companies will serve as an input as they seek solutions for them. Moreover, they pledged to work closely and in partnership with other stakeholders to find solutions for threatening challenges such as shortage of foreign exchange.

Bacha Gina, President of the Commercial Bank of Ethiopia, remarked that his bank will pay due attention for solving problems associated with shortage of foreign exchange, loans and banking service delivery.

Commercial Bank of Ethiopia (CBE) is the largest bank in East Africa, has over a thousand branches.

Source: Fana BC