Campaign Begins to Promote Use of Electronic Cash in Ethiopia

Shoppers who pay electronically will be rewarded in a campaign to promote use of plastic money in Ethiopia, according to The Daily Monitor.

Wegagen Bank, Oil Libya, Shoa Supermarket and the Great Abyssinia outlets joined hands for the promotion.

While shopping, customers who seek to pay using cards will be rewarded with discounts among other benefits.

Use of plastic money in Ethiopia is very minimal because of a number of reasons, one of it being late introduction into the country. ATM machines have been introduced by Commercial Bank of Ethiopia 13 years ago.

Only 1.5 million people were using ATM cards in Ethiopia by the end of June 2014, data from National Bank of Ethiopia indicates.

Eight out of 19 banks in Ethiopia currently provide ATM service with a network of 664 ATMs and 1,337 Point of Sales (POS).

Source: The Daily Monitor