More than 175 branches of the Development Bank of Ethiopia will be opened in weredas and zones throughout the country.

(Addis Fortune)―The National Bank of Ethiopia (NBE) conducted its performance evaluation and next five-year plan with stakeholders during a two-day meeting, Nov.18-19 at Ghion Hotel. As an account of achievement in performance it was disclosed that commercial banks current savings have reached 375 billion birr, while insurers registered coverage of 1.7 trillion birr.

The central bank’s plan for five years also includes the requirement for banks to raise their savings by 30pc.

In the next five years the Bank has also planned to restructure the Development Bank of Ethiopia (DBE) making separate support sections for medium and large-scale investors and small and micro enterprise (SMEs).

In order to enable SMEs to access finance from where they are, without having to come to Addis Ababa, more than 175 branches of DBE will be opened in weredas and zones throughout the country.

Despite reporting achievements including increased foreign currency revenue, both Teklewold Atnafu NBE’s governor and Aster Mamo, minister of Public Service in charge of the Human Development Cluster emphasized  the need for striving to meet international standards and ensuring good governance and corruption.

Source: Addis Fortune
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