Wednesday 04th March 2015

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Interview
Commerzbank testing the waters in Ethiopia PDF Print E-mail
Monday, 23 February 2015 05:50

Commerzbank is a leading international commercial bank with branches and offices in more than 50 countries BASED IN Germany. The core markets of Commerzbank are Germany and Poland.
Commerzbank finances more than 30 percent of Germany’s foreign trade and is the unchallenged leader in financing for SMEs. In total, Commerzbank boasts approximately 15 million private customers, as well as one million business and corporate clients. The bank, which was founded in 1870, is represented at all the world’s major stock exchanges. In 2013, it generated gross revenues of more than EUR 9 billion with approximately 54,000 employees on average.
The Commerzbank opened a representative office in Ethiopia in October 2007. The office’s main target is to maintain close contacts with the National Bank of Ethiopia, local banks and other institutions. The office will also perform representative functions and carry out market research. Commerzbank’s Chairman of the Board of Managing Directors Martin Blessing on February 6, visited Ethiopia and met with officials of the country. During his visit he talked to Capital’s Groum Abate about the purpose of his visit and what office have been doing so far. Excerpts;

Capital: What is your main purpose of visit?
Martin Blessing:
Personally, it’s my first time in Ethiopia. But Commerzbank started doing business here in 1958, so for 57 years. We opened an office here in 2007, and actually it has been a very successful development. If you look at the numbers of your country, its growth has been fantastic over the last couple of years. And as one of the major trade banks in Europe but also globally, we are happy to be here in Africa. We have just opened our 7th office in Africa last week in Abidjan, and being in Africa we see one of our most successful places. Add a comment

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The need for integration PDF Print E-mail
Monday, 23 February 2015 05:49

The IGAD Business Forum was held last weekend in Djibouti where Chamber of Commerce representatives from each IGAD countries were in attendance. The importance of regional integration and the way forward, as well as the establishment of an arbitration center in Djibouti were the major discussion points. Youssouf Moussa Dawaleh, President of Djibouti’s Chamber of Commerce and organizer of the forum spoke to Capital about the outcome of the Forum as well as the status of the arbitration center.
Capital: Tell us about the IGAD Business Forum that was held this week. What were the discussion points and what was the outcome?
Youssouf Moussa Dawaleh:
We held this meeting to discuss the economic integration of the region and we discussed and approved the establishment of the Arbitration Center that we will launch in Djibouti’s Chamber of Commerce. Add a comment

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