Monthly Archives: May 2018

INVITATION FOR BID

Bid No. PPA/—-/18

 

No. Description Lot
1 Furniture & Fitting Lot-1
2 Computer & Related Items Lot-2
3 Cash Counting Machine with different size, Foreign Currency Detector,  Exchange Rate Display,  and Electronic Calculator Lot-3
4 Generator, Metal Detector, and Fire-extinguisher Lot-4

 

  1. Wegagen Bank S.C. invites sealed bids from eligible Bidders for the purchase of different Office Equipment
  2. The bid document shall be obtained commencing February 12, 2018 from Procurement and Property Administration Office at 16th floor at Wegagen Tower, In front of A.A. Stadium, by paying non-refundable fee of Birr 300.00 (Three Hundred Birr) for each Lots during office hours.
  3. Presentation of copy renewed trade license, Tax Clearance Certificate, TIN Certificate, and VAT/TOT Registration Certificate is mandatory.
  4. Bid proposal shall be accompanied by Bank bid bond/CPO for Lot-1 and Lot-4 each Birr 50,000.00, and Birr 75,000.00 for each Lots 2 and 3 in the name “Wegagen Bank S.C”.
  5. The bidders need to present their financial and technical proposals for each Lot separately in wax sealed envelopes.
  6. Bid Documents must be deposited in the tender box prepared separately for each Lot for this purpose at Wegagen Bank S.C, Procurement and Property Administration, during office hours before February 26, 2018 at 4:00 PM. at the place mentioned under   1 above.
  7. Bid opening shall be held in the presence of bidders and/or their legal agents who wish to attend, on February 27, 2018 at 9:30 AM at the place mentioned under no. 1 above as follows.

 

Lot Opening Date Time
Lot-1 February 27, 2018   9:30AM
Lot-2 February 27, 2018   3:30PM
Lot-3 February 27, 2018   2:00PM
Lot-4 February 27, 2018 11:00AM
  1. Failure to comply with any of the conditions from (1) to (5) above shall result in automatic rejection.
  2. The winner suppliers shall summit 10% of the award amount in the form of Performance Bond Guarantee.
  3. For any inquire, please don’t hesitate to contact Procurement and Property Administration, on Tel. 011-872-08-89

          The Bank reserves the right to accept or reject the bid either partially or fully as found appropriate.

Wegagen Bank Introduces a new Core Banking System

Wegagen Bank Introduces a new Core Banking System

Wegagen Bank has introduced a new core banking system called Oracle Flex Cube which is aimed at significantly transforming its operational performance and customer service delivery to the highest level of efficiency.

This core banking system has been successfully implemented in all the 285 Branches and forex bureaus of the Bank since January 1, 2018. In an event organized to celebrate the successful implementation of the core banking system on January 16, 2018 Bank President Ato Araya G/Egziabher said that the new Core Banking system would bring about a dramatic improvement in the operational performance and service delivery efficiency of the Bank. He also called on all districts to utilize the full capacity of the technology and raise the performance and standard of service delivery in the Bank.

Wegagen Bank’s CIO and Project Leader Ato Alexander G/Egziabher said that the new Oracle Core Banking System project was completed within the schedule and budget which is quite a remarkable accomplishment in the Banking industry in the country so far, given the scope and the complex nature of the project.

He said that the data migration from the previous Core Banking to the latest version of 12.1 Oracle Flex Cube Core Banking System was conducted in 260 Branches and forex bureaus in a space of two days with unmatched effectiveness that has not also been experienced in the industry so far. The CIO lauded the extraordinary commitment of the project team members who were working late hours including on Sundays and holidays to finalize the project timely.

At every milestone of the project, the Bank has given recognition to the tireless effort of the team members which made the project a success. The project has involved around 50 full time and 30 on call basis Bank staff drawn from the IT and Operational units of the Bank.

Wegagen Awards Prominent Customers

Wegagen Bank awards important customers engaged in export business, International money transfer service and partners contributed to foreign currency earning through swift.

During the Bank’s annual Forex Day held at Capital Hotel and Spa on November 2, 2017 Board Chairman Teferi Zewdu said that the Bank has earned 425.5 million USD in the last fiscal year ended on June 30,2017.

 

The foreign currency earning of the Bank showed 60.3 percent increase from that of 2015/16 fiscal year amounting to 160 million USD, the Chairman said.

The Board Chairman expressed the Bank’s readiness to give a better service to customers and partners engaged in foreign currency generation with a view to increasing foreign currency inflow to the country.

 

On the occasion Ato Teferi and CEO Ato Araya Gebre Egziabher handed over accolades and certificates of recognition to prominent customers who generated large amount of foreign currency in the last fiscal year ended on June 30, 2017.

Wegagen Grosses Birr 708.1 Million Profit

Wegagen Bank declared that it earned a gross profit of Birr 708.1 million in the 2016/17 Fiscal Year ended June 30, 2017.
The Bank has officially announced this achievement in the audited annual report presented at the 24th Ordinary Shareholders’ meeting held at Hilton Addis Ababa on November 16, 2017.
Bank President Araya G/Egziabher on the occasion said that the Bank earned a net profit of Birr 532.1 million in 2016/17 Fiscal Year after paying a profit tax of over 175.9 million.

The Bank’s paid up capital which was 1.7 billion at the end of 2015/16 Fiscal Year, grew to Birr 2.1 billion in 2016/17 and the total capital including reserves reached Birr 3.4 billion. In addition, the Bank’s total asset rose to Birr 20.9 billion from Birr 16.1 billion at the end of 2015/16. In a similar trend, the total deposit mobilized reached Birr 15.6 billion while the total loans and advances increased to Birr 10.2 billion. The number of shareholders is now 3,192, while the number of employees stood at 4,148 as at April 30, 2018.