Addis Ababa, September 30, 2017 (FBC) – President Mulatu Teshome today inaugurated a 23-storey building built by Wegagen Bank S.C at a cost of over 805 million birr (approximately $34.5 million at current exchange rate).
After inaugurating the building rested on 1,800 square meters of land, the President said Ethiopian private banks, including Wegagen, have been contributing a lot for the economic growth of the country by serving as a source of finance for investors and businesses.
The President urged Wegagen Bank to strengthen its role of becoming an additional source of capital for investors engaged in socio-economic development sectors.
Teferi Zewdu, Chairperson of the Bank’s Board of Directors, said the new building, with a height of 107 meters, will help the bank achieve its vision of becoming one of the top ten banks in Africa by 2025.
Established in 1997, Wegagen Bank has a network of 211 branches of which 83 are in Addis Ababa and the remaining 128 are located in regional cities and towns of the country.