ADDIS ABABA – The Commercial Bank of Ethiopia (CBE) announces that it has resumed providing complete financial services in the Tigray region.
CBE reopened the first branch two months after the signing of the peace deal between the federal government and TPLF ending the two-year conflict in the north.
Top officials of the two sides also met last Friday in the presence of Prime Minister Abiy Ahmed who later directed the National Bank of Ethiopia (NBE) to send 5 billion Birr to Tigray.
“We are back to full business”
By dispersing the money that the central Bank sent to the region via its branches in Mekelle and other cities, CBE said in a statement that it resumed complete banking services in the region on Tuesday.
“Great thanks to all who have helped us, we are back to full business at Mekelle and surrounding cities,” the President of CBE Abie Sano also said on the same day.
The president said 31 branches reopened on Tuesday morning providing complete banking services to their customers in Abiy Adi, Mai Lamin, Samre, Gijet, Haiqi Meshal, Work Amba, Atsbi, and Agula.
Later that day, 16 more branches in Adigrat, Wukro, Freweyni, Hawzen, Adi Gudom, Hiwane, Addishu, Mehoni, Maichew, and the surrounding areas also resumed operations, as per CBE.
According to the state-owned financial giant, almost all of its branches in the region are now receiving money sent from abroad and locally as well as depositing money.
“We also have completed preparations to resume services in some areas as soon as the restoration work to telecom infrastructures there is completed,” the bank’s statement read.
The Federal government and the TPLF signed the Cessation of hostilities agreement, brokered by the African Union, in South Africa’s Pretoria city on November 2, 2022.