Ethiopia: Bunna Bank Upgrades Itself

Bunna Bank, by employing 100 million birr, improved its servers and card-banking switches and is also prepared to introduce three new services; mobile, internet and agent banking. The Bank’s servers were upgraded by Oracle, an American software company while the switches were installed by M2M, a company which is based in Morocco and which specializes in secured electronic transactions processing solutions. The Mobile, internet, and agent banking services are currently being developed by Virmati Software and Telecommunication, a mobile and telecommunications contractor for the banking & finance industries.

According to the bank’s chief IT Officer, Ato Wolelaw Birhane, with the new development, the bank plans to open additional 50 branches, install 50 ATMs and increase its number of point of sale terminals to 450. The Bank currently has 174 branches, 45 teller machines and 50 point of sale terminals and operates with 1700 permanent employees.

The bank is also aiming to launch a personalized card issuance system and it is also plans to construct a new 30-storey head office at the Central Business District, on Ras Abebe Aregay Street.

Source: Addis Fortune

Exchange Rates

Selling
Buying
USD 32.9085  32.2632 
GBP 40.6422  39.8453 
EUR 35.7814  35.0798 
CHF 32.1971  31.5658 
CAD 22.3993  21.9601 
AED 8.1073  7.9483