The National Bank of Ethiopia (NBE) is decentralizing its power, moving beyond its headquarters in Addis Ababa to establish four new regional branches.
In a major step toward modernizing the country’s financial oversight, the central bank has confirmed that construction is now underway in Bahir Dar, Jimma, Hawassa, and Dire Dawa.
The expansion isn’t just about new buildings; it’s a strategic play to tighten the leash on regional financial institutions.
By establishing a physical presence in these high-growth cities, the NBE aims to facilitate smoother money distribution and provide real-time regulatory supervision.
According to Eyob Gebreyesus, NBE’s Vice Governor for Corporate Services, these branches will be “modest but high-tech,” focusing heavily on advanced currency handling and digital infrastructure.
The road to completion hasn’t been without turbulence. The projects have faced a “dual-track” coordination challenge, where delays in civil engineering often clash with the setup of sophisticated technology systems.
Local unrest in Bahir Dar and site acquisition hurdles in two other cities have already pushed timelines back by up to a year. Despite these setbacks, the NBE has now deployed onsite representatives to each location to ensure the final push meets the central bank’s high-tech standards.