2merkato

The state owned Commercial Bank of Ethiopia (CBE) is on the final stage of its research to open branches in Washington DC, Dubai, South Africa and Djibouti.

The Commercial Bank of Ethiopia (CBE) released USD 500 million to the manufacturing sector. Experts in heavy industry said the amount was relatively high compared with the USD 300 million which was released in March; but it was still very small compared with the expectation and may be used to import a limited amount of inputs for several weeks of production with up to 20 percent production capacity. Representatives from Ethiopia’s manufacturing Industry said that they were forced to produce below their potential, at ten to twenty percent of their capacity, as a result of the hard currency shortage which led to the increase in prices and a deceleration in the economy.

The Commercial Bank of Ethiopia (CBE) and the Ministry of Innovation and Technology have signed an agreement to digitize payment collections for federal agencies.

Commercial Bank of Ethiopia (CBE) said its reserve has peaked to 242 billion Birr.

Commercial Bank of Ethiopia (CBE) awarded Impact Technologies Plc a 75.2 Million Birr contract for the supply of 4,267 cash counter machines. The tender was floated in January 2014 and it was for the supply of three different kinds of cash counters.