PM Abiy Ahmed inaugurates CBE’s new 53-story headquarters at the cost of 303.5 million USD.

February 14, 2022

The Commercial Bank of Ethiopia, formed in 1942, started with only two branches. It was established with a one million Maria Theresa capital in 1942 and currently has a 1.1 trillion ETB in assets, 3.4 million customers, and 1,795 branches. It is the largest commercial bank in Ethiopia and operates two branches in South Sudan. It aims to re-open in Djibouti and open in Dubia and DC for the Ethiopian diaspora.

The bank is the first to introduce modern banking to Ethiopia and the first bank in Ethiopia to introduce ATM services for local users. It is the first bank to introduce Western Union Money Transfer Services and works with over 20 money transfer agents such as Atlantic International, Xpress Money, and Money Gram. CBE has a dependable and continuing relationship with internationally recognized banks worldwide.

The new state-of-the-art headquarters has 53 floors, a total area of 165,476.4 square meters, and is above 209 meters tall. It took nearly six years to complete and is located around Ras Desta Damtew Street. The inauguration took place on February 13, which also happens to be the day of CBE’s 80th anniversary.

The building’s layout, functionality & technology come close to the designs of several banks in the US. The building consists of areas open to the public, such as an exhibition area, cafeteria, sighting area, shopping mall, cinema, gymnasium, spa, children entertainment, restaurant, and game areas.

Henn Architekten, a German firm, designed the tower back in 2011 but didn’t start construction until 2015 due to the bank not getting approval from the state. This headquarter is the 3rd tallest building in Africa, the tallest in East Africa, and CBE is currently among the largest banks in East Africa.

You May Also Like…

Dinaw Mengestu

Dinaw Mengestu

All Our Names (Knopf, 2014), How To Read the Air (Riverhead, 2010), and The Beautiful Things That Heaven Bears (Riverhead, 2010) are Dinaw Mengestu's three books, all of which were named New York Times Notable Books (Riverhead, 2007). Mengestu is an Ethiopian native...

UN Women launches its third Strategic Plan in Uganda

UN Women launches its third Strategic Plan in Uganda

UN Women is an international organization that focuses on ending violence against women and girls (VAWG) and creating Gender Equality & Women Empowerment. It collaborates with several local & international organizations and private & government sectors to...

Tsion Haileselassie – Photographer

Tsion Haileselassie – Photographer

As young professionals in the creative industry, it is usual to see people exploring their talents and their true passions through time, regardless of what they have learned in the past few years. Some people stop learning, some do it while learning and others do it...

Ethiopia releases the Online Trade Registration and Licensing System

Ethiopia releases the Online Trade Registration and Licensing System

Ethiopia’s Ministry of Trade and Regional Integration launched the Online Trade Registration and Licensing System (OTRLS) to provide several benefits, such as reducing physical registration, saving time, and avoiding confusion with its detailed information for each...