In the aim of avoiding burning currency, which is the traditional way of destroying currency in Ethiopia, National Bank of Ethiopia (NBE) installed a machine that will change tired bills to inputs for brick manufacturing.

The machine is installed at the central bank’s head office, which is one of the sites where it burns old currencies. In addition to the head office, NBE burns majority of its old currencies at Wonj town.

The new machine was purchased from the German manufacturer G&K Medizinische System (GMBH) and has the capacity of destroying a total of 2,100 Kilograms of old notes in two and a half years.

In related development, NBE intends to establish a banknote and security printing factory in Ethiopia. In pursue of this it has announced a tender to hire consultant that will carry on a feasibility study.

Ethiopia goes to European countries for the sake of replacing old notes. The NBE usually goes to England and France for the printing of new banknotes.

Source: Fortune