Commercial Bank of Ethiopia (CBE) awarded Impact Technologies Plc a 75.2 Million Birr contract for the supply of 4,267 cash counter machines. The tender was floated in January 2014 and it was for the supply of three different kinds of cash counters.

The first type was Teller Cash Machines (TCM) for which 3,409 units were needed. The other types of counters are Heavy Duty Currency Vacuum Counters, for the purpose of detecting counterfeit currency and counting large volumes of cash, and Multi Currency Counter Machines. 74 of the earlier types of cash counters and 784 of the later were what CBE demanded for in its tender.

In response to this tender, twelve companies made an offer. This included Ethiopian Trade Contracts Plc, Hussein Web Gate Plc and Impact Technologies.

Three months ago at the financial opening, Impact had the lowest offer for all the three types of cash counters tender. The offer was 42.4 Million Birr for Union brand TCMs, 28.6 Million Birr for a Korean Brand of Heavy Duty Currency Vacuum Counters dubbed Eagle 1000, and 4.18 Million Birr for the Multi Currency Counter with a Chinese Speed Tech brand.

Impact Technologies is a company established in 2005 between three individuals. It currently supplies mechanical and IT products, which includes generators, laptops, computers and metal detectors. It is also known for supplying counting machines for Awash International Bank, Oromia International Bank, Anbessa International Bank and the Development Bank of Ethiopia, during the past four years.

According to the General Manager of Impact, Endalkachew Bezu, the deliver for the products will take place in 120 days of the signing of the contract.

Source: Fortune