Page 9 - Abyssinia Business Network ABN August 2019

But in Ethiopia especially at
the capital, Addis Ababa a new
architectural beauty is emerging
with an ever-increasing building
construction. At the heart of
the metropolis locally known
as “senga tera” mainly private
banks are taking shapes and
lines, creating a financial hub
like that of Wall Street in the
US.

Wall Street is the home of several
market exchanges and is also
the catch-all phrase referring
to America’s financial industry.
Less than a mile in length, Wall
Street is located in New York
City’s Lower Manhattan area
and gets its name either from
barriers erected for security in
the 1600s or from the name of
Dutch settlers who lived there.

A marketplace developed near
the barriers and grew to include
people who auctioned or traded
bonds. Today, Wall Street is
home of the New York Stock
Exchange and the NASDAQ,
which are the world’s largest
exchanges. The Wall Street area
also hosts the New York Board
of Trade and the New York
Mercantile Exchange. Large
financial firms have offices in
the area; further enhancing Wall
Street’s standing as the center of
the financial world.

Ethiopia’s or our “Wall
Street” could be located at an
approximately circular spot that
stretches nearly from Meskel United Bank HQs under construction
Square, or opposite to the old
National Stadium where the Ethiopian National Bank HQs Abyssinia, Nib, United and Zemen as
magnificent Wegagen Bank to the ongoing construction of well as other financial institutions have
headquarters is erected, to the Commercial Bank of Ethiopia. been erecting their unusual, fabulous
place called ‘Mexico Square’, In this vast site several private and splendid Headquarters.
or ‘Senga Tera’and through the banks like Awash, Dashen,
Abyssinia Business Nework ነሃሴ 2011 / August 2019 07