Welqait-Tegede and Setit-Humera Zone says designation of branch banks under Shire CBE district is “politically motivated.”


Mereja Media

The Welqait-Tegede and Setit-Humera Zone said the latest decision by the Commercial Bank of Ethiopia (CBE) to categorize its branches in Wolkait, Humera and other areas under Shire CBE district is “politically motivated.”

In a letter signed by Eshete Demelew, administrator of the zone, the zonal administration demanded the CBE to rectify the transgression and provide the banking services under the Gonder district as it has been doing for the last two years.

It is not clear that the exercise was an executive order from federal government authorities or purely a decision from CBE officials.

The bank’s decision has created confusion and alarmed residents in the stated areas. The branch banks designation issue in Wolkait is getting traction among a considerable number of Ethiopians on social media.

“For any financial institution, it is obligatory to respect the social, traditional and common values of the community in which it operates. Failing to do so will pose a big problem to the business entity,” the letter reads.

Denouncing the banks move to engage in such ‘shameful’ exercise in a clandestine way, the zone said the decision is tantamount to denying the identity question of the Welkait-Tegede Amhara identity.

The CBE’s decision is totally “political motivated” and is against customer based business operations, the zone said.

The zone warned that it would engage in mobilization of the Amhara and justice – loving people across the country to go against the bank’s’ wicked activities if it is not rectifying the wrong doing in time.

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