Ethiopia’s Wegagen Bank has inaugurated its headquarters in the capital Addis Ababa an event that was attended by government officials.
The 33 storey building has been constructed at a cost of 800 million Birr.
However, construction cost of the building is expected to rise when finishing is done. “Overal cost of the building is expected to go up when additional interior and furnishing works are done said Fikru Woldetensie, Marketing and Corporate Communication Directorate Director of Wegagen Bank.
The building build on 1800 square meter of land has eight elevators accommodating 88 individuals in an escalator at a time.
Several modern building technologies like air conditioning, public addressing, and fire and safety systems, have already been installed.
The design and project consultancy work was undertaken by a local company, ETG Design and Consultant plc. While structural design was carried out by another local building consultant MH Engineering plc.
Completion of the building was behind schedule due to redesigns and shortage of construction materials. It has three underground parking floors with a capacity of over 100 cars.
The building is located near Addis Ababa stadium at the heart of the capital city. The project construction was spearheaded by China Jiangxi Corporation for International Economic and Technical Cooperation.
Wegagen Bank is one of the most profitable banks in Ethiopia. In late 2016 it announced a profit of 478.5 million birr before tax.