ADDIS ABABA - Berhan Bank has decided to shelve its ambitious plan for a 50-story landmark tower near Mexico Square. Instead, the Bank will move forward with a 16-story transitional headquarters to be built on Tesema Aba Kemaw Street, near Goma Kuteba.
The new project, estimated to cost 1.2 billion Br, will be financed from the Bank’s existing 8.5 billion Br capital. The architectural design, budgeted at 5.1 million Br, has already been commissioned, with construction expected to take two years to complete.
The shift marks a strategic move by Berhan Bank to balance growth ambitions with cost efficiency amid evolving market conditions.