Thursday, 29 December 2022, Addis Ababa, Ethiopia (EEG): Ethio-Engineering Group (EEG) and Awash Bank (AB) signed here today a Memorandum of Understanding (MoU) meant to work and cooperate together.
When EEG CEO Ambassador Meseganu Arega inked the agreement on Behalf of the group, Tsehay Shiferaw, AB CEO reciprocated the same on behalf of the bank.
‘EEG is engaged in various manufacturing areas. Yet, the shortage of currency that was encountered nationwide has impacted the group too. We believe, therefore, that Awash Bank will help a lot in alleviating this shortage , ‘’ the Ambassador said adding that EEG , with all its huge potentials , is eager and committed to work together towards meeting our common goals .
The agreement not only facilitate the provision of loans and foreign currencies, but also bolster the sisterly relations of the two organizations by broadening services wherever we are, Tsehay said. All need to contribute positively to the realization of our common goals, he added.
Included in the agreement are opening up banking branches inside industries under EEG and , making the service accessible to all by installing Automated Teller Machines (ATMs ) .The agreement is said to facilitate also loans both to the management and staff at reasonable interests .
A manager has been appointed so as to cement relations between and among the two organizations.
AB has been pioneer, for the last twenty eight years, in the private banking Sector. It has been awarded for excellence in 2022 in the global banking service.
In attendance of the agreement, among others, were EEG Resource Sector deputy main CEO Kifele GebereMariam and AB Board of Directors Chairperson, Dr. Dibaba.
AB, with a vision of becoming the first choice world class bank, started banking operations on February 13, 1995.