The Commercial Bank of Ethiopia (CBE) is working to open a branch in South Africa by next year.
The Bank has been undertaking research and other necessary studies to open a branch in South African, according to Bekalu Zeleke, president of the Bank.
According to the president, the Bank has also planned to open another branch in Khartoum, Sudan by the end of this fiscal year.
“This has a significant role to play in strengthening the competitiveness of the local banking industry and generating foreign currency,” Bekalu said.
The Bank is working with the School of Finance in Frankfurt, Germany to develop its staffs’ knowledge and competitiveness in the banking industry.
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