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

USD 35.6248  34.9263 
EUR 39.9925  39.2083 
GBP 42.2175  41.3897 
CHF 35.9068  35.2027 
CAD 23.6332  23.1698 
AED 8.7765  8.6044