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Ethiopia: Ministry of Finance and Commercial Bank Introduce Government Procurement Card

Gov Procurement Card

The Commercial Bank of Ethiopia (CBE) and the Ministry of Finance have jointly introduced the Government Procurement Card (GPC) to facilitate digital purchasing within government institutions.

The GPC is a prepaid card specifically designed for approved vendors, enabling government entities to conveniently acquire goods and services. Its implementation aims to enhance the efficiency and transparency of the procurement process while mitigating financial fraud risks.

Abie Sano, the President of CBE, highlighted the successful completion of e-payment transactions amounting to Birr 3.3 trillion in the previous fiscal year. He emphasized that the introduction of the GPC will further expedite the transition towards digital payments in Ethiopia.

Eyob Tekalign, the State Minister of Finance, emphasized the government's commitment to realizing its digital transformation agenda. He stated that the GPC represents a crucial step in this endeavor, enhancing the effectiveness and transparency of government procurement processes. He further mentioned the government's efforts to expand digital payments in other domains, including tax collection and social welfare disbursements. He expressed how digital payments ccould contribute to reducing financial fraud and improving the efficiency of government services.

Currently, the GPC is accessible to 170 government institutions, with plans to expand the program to encompass all government entities in the upcoming months.

Source: The Ethiopian Herald

Image source: Fana BC