The banks in the Amhara region of Ethiopia are facing multiple operational and security challenges. If situation does not improve, many could stop operating in the troubled region. Since last year, Ethiopian military has been conducting operations against Fano militias in the region. Roads and businesses remain closed. Gojjam zone in Amhara is the worst hit zone due to the armed conflict.
In the North Gojam Zone, the branches of the Ethiopian Commercial Bank in Feresbet and other areas have been closed.
In the West Gojam Zone, Quarit City branch was recently closed. In East Gojjam zone, several CBE branches were closed recently. They have announced to resume work soon.
Delivery of cash to banks branches is also a major challenge. Fano fighters block roads or announce ban on movement of vehicles. Banks have been put under restrictions by the headquarter to spend not more than 500,000 birr in a day.
Read more..
NBE Introduces New Fuel Import Policy for Ethiopian Private Banks
More Stories
Drivers Demand Action Amid Fuel Shortages in Ethiopia
New Fuel Price in Ethiopia
Ethiopian Airlines Opens 20,000 Job Positions Across Ethiopia