EthSwitch S.C has opened the financial proposals of the two companies,  – BPC Banking Technologies BV and Compass Plus Limited (Great Britain) on May 7, 2013, for the award of a turnkey contract for the supply and implementation of a National Electronic Funds Transfer (EFT) Switch Clearing Settlement and Reconciliation System.

The Company is set to announce the winner in “a very short period of time,” according to Bizuneh Bekele, Chief Executive Officer of EthSwitch S.C.

EthSwitch floated a tender for the turnkey supply and implementation contract of a Switch system, and the supply and implementation of card issuance and card management systems, in February 2012. The bid announcement has attracted fourteen companies in April 2012.

After a long evaluation process, conducted by a bid committee constituting representatives from shareholders, including the National Bank of Ethiopia, the committee proceeded to open the financial proposals.

EthSwitch S.C was formed in 2011, as a consortium of all banks operational during the establishment of the company to provide a national switch system for financial institutions.

Source: Fortune