JIMMA UNIVERSITY

ATTACHMENT REPORT ON WEGAGEN BANK

NAME :ISMAIL ALI

ID.NO : EU -0320

DEPARTMENT : ACCOUNTING AND FINANCE

COURSE : PRACTICAL ATTACHMENT

DURATION : 10 days

Jimma ethiopia

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ABSTRACT

This practical attachment's main goal is to evaluate the performance of the wegagen bank
branch. The degree to which the wegagen bank jimma branch is carrying out its vision and
mission, as well as the organization's effectiveness in relation to its goals. The purpose of this
practical attachment was to broaden students' knowledge and provide them the opportunity to
contrast what they had learned in class thus far with their practical experiences. To generate
students that are highly competent, independent, engaged, change agents, and effective problem
solvers. The investigation of wegagen Bank of Ethiopia's equal participation with other banks in
achieving its vision, purpose, and target is another goal.

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Acknowledgment

First and foremost, I want to express my sincere gratitude to the Almighty God for continuing to
support me, keep me alive to this day, and allow me to finish my internship. My sincere gratitude
is to (Ms. Lemlem kebede) of Wegagen bank jimma branch, jimma university department of
Accounting and Finance, For inspiring and guiding me throughout my internship

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 Contents page

ABSTRACT....................................................................................................1

Acknowledgment.........................................................................................2

PART ONE: ORGANIZATIONAL REPORT.............................................................6

1.1 Background of the Wegagen Bank.........................................................6

1.2. Cardinal issues missions, vision,

and objective of the Wegagen Bank.............................................................6

1.2.1Mission.............................................................................................7

1.2.2. Vision..............................................................................................7

1.2.3.Objective..........................................................................................7

1.2.4. Value...............................................................................................8

1.3. Organizational structures.................................................................9

PART TWO:- ACTIVITY REPORT..........................................................................10

2.1 Background of the department/division where you have been working.....10

2.2. Objectives and major responsibilities .........................................................10

2.3 Your responsibility and major activities of as member of department........10

2.4 Performances evaluation of your activities....................................................11

2.5 Problems encountered on the job and remedial action I have taken...........11

2.6 Problems encountered by the department and suggested solution.............12

PART THREE:- SWOT ANALYSIS OF THE ORGANIZATION STRENGTH...............13

3.1 Strength of wegagen bank.........................................................................13

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 3.1.2 Weakness of wegagen bank...............................................................13

3.1.3 Opportunities:......................................................................................13

3.1.4 Threats:................................................................................................14

3.1.5 Problems observed that affect the organization

at current time and its critical issues...........................................................14

3.2 Suggested solutions or measures to be taken to solve or at least minimize the

problems................................................................................................................14

PART FOUR: LESSON LEARNED ..........................................................................15

4.1 Rationales of practical attachment................................................................15

4.2 Significances of practical attachment.................................................15

4.3 Relevance of the organization and my activities............................................16

4.4 Major problem that I faced during the attachment........................................16

4.5 Suggested solutions during the practice...................................................16

PART FIVE :PERFORMANCE OF THE INSTITUTION IN DELIVERY.......................17

5.1 Branch Network Expansion.......................................................................17

5.2 Digital Banking Services...........................................................................17

5.3 Financial Performance.............................................................................17

5.4 Loan Services..........................................................................................17

5.5 Customer Service.....................................................................................17

PART SIX: CONCLUSION AND RECOMMENDATION..........................................18

6.1 Recommendation and Conclusion.................................................18

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INTRODUCTION

I have been joined the practical attachment to gather practical experience and submit the report
regarding the practical knowledge. An attachment is a professional learning experience that
offers meaningful, practical work related to a student’s field of study or career interest. An
internship gives student the opportunity for career exploration and development, and to learn
new skills. It offers the employer the opportunity to bring new ideas and energy into the work
place, develop talent and potentially build a way for future full-time employees. A quality
attachment;; provides a clear job/project description for the work experience, orients the student
to the organization, it’s culture and proposed work assignments and helps the student develop
and achieve learning

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 PART ONE: ORGANIZATIONAL REPORT

1.1 Background of the Wegagen Bank

Wegagen Bank SC was established on the 11th of June 1997 It came to life as a result of the
entrepreneurial wit of sixteen 16 founding members who recognized the critical role that
financial institutions would play towards creating a sustained economic development and were
able to put in an initial paid-in capital of Birr thirty million (Birr 30 Million).

Established under the banking proclamation of Licensing and Supervision, Proclamation No.
84/1994, the Bank was registered with the National Bank of Ethiopia on April 30, 1997. The
Memorandum and Articles of Association of the Bank were signed on April 15th, 1997 and
registered with the Addis Ababa Bureau of Trade, Industry and Tourism on April 15, 1997,
Registration Number 1/34/4/89.

The Bank, as it started back then, operated through its Head Office located in GofaSefer, Addis
Ababa. In October 2017, Wegagen moved to its 23 Storey Headquarters Building in front of
Addis Ababa Stadium, RasMekonnen Street.

1.2. Cardinal issues missions, vision, and objective of the Wegagen Bank

1.2.1 Mission

Maximize stakeholders' value by providing diversified banking services through competent and
motivated employees and up-to-date technology.

1.2.2. Vision

Aspiring to be a champion of excellence in banking business in Ethiopia.

1.2.3. Objective

➤ Maximizing profitability through increased efficiency.

To contribute to the general economic development efforts of nation.

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Enhance growing market share.

➤ Provide differentiated, varied and value added banking services,

➤Increasing employee satisfaction and developing their skill.

1.2.4. Value

-We do the right thing, even when no one is watching;

✓ Integrity

-We keep our word and honor our commitments;

-We maintain confidentiality and privacy of all.

✔Customer Satisfaction

-We strive to excel our business and satisfy our customers.

-we are committed to offer the highest quality service to our customers and aspire to be branded
with quality in the minds of our customers and the General public

✔ Employee satisfaction

-we are committed to employee training and professional growth

-we distinguish our employees as valuable organizational resources

-we recognize our employees for their achievements

-we are committed to anticipate and respond to internal and external changes through constant
improvement and adaptation

✓ Learning organization

-we strive to establish a culture that nurtures individual and group learning

✔Teamwork and collaboration

-we recognize the importance of teamwork for our success

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-we support one another and work co-operatively

✔Public trust

-we understand that the sustainability of our business depends on our ability to maintain and
buildup public confidence

✔ Value for money

-we deliver the same level of service for less cost, time or effort.

-we deliver a better service or getting a better return for the same amount of expense.

✔ time or effort

-we use resources carefully to save expense, time or effort

✔ Decentralization

-we are committed to delegate operations and decision-making responsibilities

✓ Corporate citizenship

-we value the importance of our role in national development endeavors

-we abide by the laws of Ethiopia and other countries in which we do business

-we care about the welfare of the society and the environment

1.3. Organizational structures

The structure of an organization consists of the coordination of the individuals and collective
departments within the organization to collaboratively reach a final and shared goal in the most
effective and efficient manner.

In order for the organization in question to reach its full potential, wegagen bank maintains
a clear and consistent balance between the organization and the people employed within the
organization, as it is through the successful interaction between these two aspects of a business
that the necessary and effective structure can be achieved and maintained. The structure of

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wegagen bank may be very similar to a regular organization, depending on the size of the bank.
Wegagen Bank is governed by the Board of Directors consisting of a Chairperson, a Vice
Chairperson and seven Directors. The overall management is entrusted to the management team
which comprises the Chief Executive Officer, who is appointed by the Board of Directors, eight
chief officers and twenty three Director

Organizational
Structure of
Wegagen Bank
Jimma Branch

PART TWO: DAILY ACTIVITY

2.1 Background of the department/division where you have been working

Customer service officer department is one of the sectors of wegagen bank jimma branch It
performs its duties and responsibility by setting specific and feasible goals and objectives which
support to speed up customer satisfaction and profit maximization of the bank. More than 14

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employees make up this department, each of whom works 8 hours per day and is responsible
for something on their own.

Wegagen bank at JIMMA branch has both technical staff and supporting staff.

Types of job Female Male

Manager 1 0
Permanent employee 6 8
Contract worker(security) 3 4

2.2. Objectives and major responsibilities as well as activities of the department or division.

➤ To smoothly implement integrated banking solutions in customer service process,

➤ To have single source of reference to perform.

➤ To determine duties and responsibilities that each employee at all level in the Customer
service process.

➤ To provide efficient and quality service to its customers.

➤ To ensure standardization and uniformity in the customer service process.

2.3 Your responsibility and major activities of as member of department

✔ Account opening

✔ duties related to customer service

✔ Opening account

✔ Pay cash and receive cash

2.4 Performances evaluation of your activities

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As a department member, I am also accountable for carrying out the department's duties.
When I was a participant at the wegagen bank , I performed the following specific actions as an
apprentice based on those general activities.

➤ I supported employees by opening accounts for more than 25 customers.

➤ I make sure the customer's name, date, and signature are correctly filled out.

➤ I provided several services for the department and the clients.

➤ I complete a task on time and honestly by according to the guidelines and rules.

2.5 Problems encountered on the job and remedial action I have taken Problems encountered
on the job

# I put in a lot of time studying, learning, and preparing for my careers; however, the true
challenge comes once all my knowledge is put to the test in a real-world situation. When
undertake my very first working experience while participating in the Attachment, and are often
expected to participate at the same level as an organization's full-time employees, this can lead
to stress or feelings of being overwhelmed, which may deter some individuals from realizing my
true potential in my career.

# Getting confused because I didn't get enough guidelines or directions.

# Fear to ask questions, I am not even sure which of my colleagues will help me or will

they feel disturbed. I feel hesitant in interrupting them.

# The hierarchy in the organization was difficult to understand during the first few days.

Since I need to be clear about whom I am reporting and who is reporting to whom.

Suggested solutions

The way to combat those overwhelming feelings is to keep an open line of communication
between me, employer, and my internship program advisor. Additionally, if I am unsure of how

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to complete a certain task, it won't hurt to ask the employees or a colleague for help. Generally,
freely ask questions where I get confused, try to blend in with the office people, and socializing
with colleagues will help me to adjust to the office and the work too.

2.6 Problems encountered by the department and suggested solution

The working environment is the most crucial demand of the department. The lighting and the
ventilation in the room is not good enough.

Therefore, create a space where all feel welcome and supported for employees to stay
motivated, improving ventilation and air filtration is important for the office to ensure fresh air
is coming in and existing air is cleaned and keeping a space well-lit with white light and with the
right color temperature is important for better working environment within the department.

Problems with poor customer management in some employees. Hence, ensure all customer
service personnel are adequately trained and updated on the latest industry trends and best
practices. This will ensure that they can provide quality service to clients and deal with any
complaints effectively and timely. Some employees have computer skill gap, so it is better to
give advanced digital training.

PART THREE:- Strength, weakness, opportunity and treat (SWOT) analysis of the organization
Strength

3.1 Strength of wegagen bank-

# Services that are safe and trustworthy and are adapted to the needs of the clients;

# It prioritizes the public interest; Decentralized working environment;

# Innovative Culture: it enables WBE to create distinctive goods and services that satisfy the
needs of their clients;

# Economies of scale are the cost benefits that wegagen bank achieves as a result of size;

# the bigger the volume, the greater the benefits;

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# Technology: Due to its superiority, wegagen bank is better able to satisfy the needs of its
clients than rivals;

3.1.2 Weakness of wegagen bank

# Competitive market

# Investment in research & development

# Comparatively low pay compared many private banks

3.1.3 Opportunities:-

# The level of income is steadily rising.

# Population growth

#New products and Services

# Growing economy

New Technology

The goal is to establish a world-class wegagen bank by 2025.

3.1.4 Threats:

✔ Increase in labor costs

✔ Growing competition

✔ External business risks

3.1.5 Problems observed that affect the organization at current time and its critical issues

Has faced some challenges relating with e- payment service. Among the challenges Security,
Standardization, Regulatory and Legal Issues, Infrastructure, Heavy Investment Costs, and

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Socio-Cultural Challenges are the serious ones. And it affected the development of the service as
expected.

3.2 Suggested solutions or measures to be taken to solve or at least minimize the problems.

✔ Increase the awareness of society

✔ Building infrastructure's

PART FOUR: LESSON LEARNED

4.1 Rationales of practical attachment

The rationale of practical attachment includes it enhances Cross-training which allows us to

experience and practice different work-related skills. Job guidance provided by the practical
attachment program creating confidence in the students. The students develop confidence to
join the industry being multi-skilled and competent enough. This does not only enhance
employee skills but also gives companies the benefit of having employees who can perform
more jobs, The attachment also gives employees a better appreciation of what co-workers do
and how their own jobs fit in with the work of others to achieve company goals.

This attachment has great importance behind it. It is primarily planned to check how the
theoretically learned courses and gained knowledge and skills are applied in real world
environment. It is also aimed of evaluating how relevant and applicable theoretically courses
learned are in real world it also looks into challenge and opportunities' prevailing in the real
world and; to suggest some possible solution in the real world.

4.2 Significances of practical attachment

The practical component of my study has been very beneficial to me. The following are some
examples of how practical connection is relevant: -

1. It allows me to combine my theoretical knowledge with practical skill development because

many operational aspects of the bank are related to the theoretica 1 knowledge I gained from
my studies.

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2. It facilitates my application of what I have learned in the classroom.

3. 1 can overcome the disparity between my study-related practical abilities and theoretical
knowledge through practical work

4. It improves knowledge and comprehension of matters pertinent to a certain field of study

5. It improves students' ability to conduct research.

6. It improves students' ability to handle difficulties or problems they encountered in class or

with their practical work.

7. It enhances employability skills of the students.

8. It supports the growth of students' critical thinking, decision-making, and self-esteem skills.

4.3 Relevance of the organization and my activities

The organization and my activity have much relevance to my study. In my stay of Customer
Service department, I have learned that how one person cans harmonious work with the other
Employee in each department. I know how to apply the lecture class in real world or a practical
work. It also encourages me how to identify any problem and give the solution.

4.4 Major problem that I faced during the attachment

✔ There was less communication between the University and hosting Company (WBE) and this
lack of communication left me to deal with challenges on my own, as there was no one from
the department to intervene.

✔The obtained data will differ from one employee to other

✔ Uncooperative attitude of some employee.

✔ Inadequate work to do during the Attachment

✔ Getting confused because I didn't get enough guidelines or directions.

4.5 Suggested solutions during the practice

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* The University should ensure that Practice attachment is done in a professional and
systematic manner in which hosting institutions are genuine collaborating partners. There
should be better collaboration and communication between hosting institutions and the
Camps.

* Socializing with colleagues will help me to adjust to the office and the work too.

* Freely ask for adequate work

PART FIVE :PERFORMANCE OF THE INSTITUTION IN DELIVERY

5.1 Branch Network Expansion.

✔ Wegagen Bank has expanded its branch network across Ethiopia, increasing accessibility for
customers in both urban and rural areas.

5.2 Digital Banking Services

✔ The bank has invested in technology to enhance its digital banking services, including mobile
banking and online platforms, making transactions more convenient for customers.

5.3 Financial Performance

- Assets and Deposits: The bank has seen growth in total assets and customer deposits,
reflecting increased trust and customer base.

- Profitability: Wegagen Bank has reported consistent profitability, indicating effective

management and operational efficiency.

5.4 Loan Services

✔ Wegagen Bank offers various loan products for personal, business, and agricultural purposes,
contributing to the financial inclusion of different segments of society.

5.5 Customer Service

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✔ The bank emphasizes customer satisfaction and has implemented measures to improve service
delivery, including staff training and feedback mechanisms.

PART SIX: CONCLUSION AND RECOMMENDATION

6.1 Recommendation

The following recommendations are made for the involved organs based on the results of the
practical attachment:-

1. The length of the practical attachment period should be increased by the university.

2. Excellent customer service helps WBE compete with private banks. The bank has to provide
its customers more modern banking services, especially e-banking services.

3. Research and development should receive the proper emphasis from WBE.

4. WBE should move to mobilize and gather resources from the nation's expanding economy.

5. The university needs to allocate enough money for practical attachment.

6. The university needs to strengthen ties with the organizations where the attachment was
undertaken.

7. Since employee satisfaction is one of the bank's core objectives, WBE should, like other
private banks, provide its employees higher salaries. However, higher salaries may also
discourage skilled and experienced workers from leaving for private banks.

6.2 Conclusion

The attachment confirms that fostering strong relationships between universities and employers
provides significant benefits for students, universities, and society at large. Many Ethiopian
higher education institutions do not give their students opportunities for practical attachment.
Instead, they put more emphasis on teaching the theoretical side of things, which makes it
difficult for students to find work once their academic careers are over. On the other hand, a lot
of difficulties and issues were seen at the businesses where the practical attachment took place,
and being aware of these issues can help students improve their problem-solving abilities.

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Conducting practical attachments is crucial for society as a whole, for students, universities,
companies, and for employers.

Reference

www.wegagen.com
www.linkedin.com

Some oral data from the employee

Direct information from the organization's manager.
Data from the organization's written documents.
From employees of organization.

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