The President of the Commercial Bank of Ethiopia, Abiy Sano, confirmed that the bank will continue to enhance its comprehensive support for the manufacturing industry sector.

Senior officials from the National Manufacturing Industry Council recently conducted field visits to a number of factories in Shagar, Bishoftu, and Adama.

These visits aimed to gain a direct understanding of the challenges facing the sector and to facilitate the rapid finding of solutions through the Council’s authority.

The President, who is a member of the Council, stated that the bank remains committed to deepening its assistance.

He pointed out that the bank, by identifying the specific challenges facing the sector, provides crucial support through financing and foreign currency allocation.

The President confirmed that industrial financing currently constitutes the largest share of the bank’s total loan portfolio.

He clarified that more than 45% of the bank’s total loans are specifically allocated to the manufacturing industry sector.

He reaffirmed the bank’s commitment to expanding the scope of its financial services to ensure the continued growth of the sector.

Shagar

“Shagar” is not a widely recognized historical or cultural site. It is possible the name refers to a local place, a misspelling, or a less-documented location. For a more accurate summary, please verify the correct name or provide additional context, such as a country or region.

Bishoftu

Bishoftu is a city in central Ethiopia, located about 50 kilometers southeast of Addis Ababa, and is famous for its series of scenic crater lakes. Historically, it served as an important airbase for the Italian military during their occupation in the 1930s and later for the Ethiopian Air Force. Today, it is a popular resort destination known for its natural beauty, birdlife, and lakeside resorts.

Adama

Adama, also known as Nazret, is a major commercial and transportation hub in central Ethiopia. Historically, it served as a key market town for the Oromo people and later became a significant stop on the Addis Ababa-Djibouti railway, which spurred its modern growth. Today, it is known for its hot springs and as the capital of the Oromia Region.