Nib International Bank awarded Ethiopian Exporters at an even held at the Addis Ababa Sheraton Hotel. The bank awarded 56 exporters with trophies and certificates which have been a significant customer base for the bank according to Amerga Kassa, president of NIB.
Foreign exchange from exporters is the most dependable source for the bank above other sources such as remittance, aid etc he noted.
The current shortage of foreign exchange is due to the significant gap between import and export trade in the country according to Amerga.
The trade transacted by the import sector in Ethiopia exceeds that of the export sector with the national import bill for the country last year adding up to 11 billion US dollars while the export earnings only added up to just 3.2 billion US dollars explained Amerga.He thanked exporters for choosing to work with NIB and invited them to further discussions with the board of directors of the bank as well as the management to enhance export activities.
The purpose of the event was to celebrate the exporters that have been working with the bank and to promote future discussion on ways to generate foreign currency said, Tafesse Bogale, chairman of the board of directors.
Source: The Reporter
