Commercial Bank of Ethiopia (CBE) has awarded Birr 16.4 million bid for the supply of 2,000 Point of Sale (POS) terminals to IT vendor SS Communications, according to Addis Fortune.

Ephrem Mekonnen, Communications Director at the Bank stated the tender for the provision of POS terminals was floated in February 2015 and opened on March 10, 2015.

The previous bid for the provision and installation of the POS terminals was cancelled as the bidders were found unqualified.

CBE’s POS terminals had facilitated 228,903 transactions valued Birr 553 million in the last nine months of 2014/2015 budget year.

The current POS terminals will be installed in four months, thus meeting the target of the bank to install 2,000 POS machines for this budget year.

CBE is the first bank in Ethiopia to introduce Automatic Teller Machines (ATM) and POS terminals. The bank currently operates 10,000 POS machines and 627 ATMs.

Source: Addis Fortune