One of the private banks in Ethiopia, Nib International S.C., had launched Visa Card service starting from August 24, 2015, Capital reported.

Kibru Fondja, President of Nib International Bank S.C. stated the Bank launched the service after fulfilling all of the requirements set by Visa Multinational Financial Service Corporation.

According to the President, since Ethiopia is the destination of many tourists from all over the world, accepting Visa Card makes the country a convenient destination.

Nib Bank was founded a decade ago by 717 shareholders with a paid-up capital of Birr 27.6 million Birr. Currently, it has 3,925 shareholders and with 1.3 billion Birr paid-up capital.

Source: Capital