CBE to Strengthen Multi-Faceted Support for Manufacturing Sector: CBE President

Addis ababa: Commercial Bank of Ethiopia (CBE) will continue to bolster its comprehensive support for the manufacturing industry, bank's president, Abe Sano said. Senior officials from the National Manufacturing Industry Council recently conducted field visits to various production facilities in Sheger, Bishoftu, and Adama. These visits were designed to provide a firsthand understanding of the bottlenecks facing the sector and to facilitate swift solutions through the Council's mandate.According to Ethiopian News Agency, Abe, who serves as a member of the Council, informed ENA that the bank remains committed to deepening its assistance. He noted that by identifying the specific challenges within the industry, the bank is providing critical support through both financing and foreign currency allocations. The president highlighted that industrial financing currently commands the largest share of the bank's total loan portfolio.More than 45 percent of the bank's total credit is dedicated specifically to the manufacturing sector, Abe said. While acknowledging that manufacturers continue to seek additional financial resources, Abe indicated that the bank has recognized the need to sharpen its focus and expand its capacity to meet this demand. He reaffirmed the bank's commitment to enhancing its overall financial reach to ensure the sector's continued growth.