Ethiopia's Berhan International Bank has joined Premium Switch Solutions (PSS), with the acquisition of 4.8 million Ethiopian birr worth of shares.

Berhan Bank was officially welcomed into the partnership at a ceremony at the Hilton Hotel, on Thursday, June 27, 2013. Berhan can now access a network of 60 ATM machines owned by PSS and leased to the three original founding banks. It will also have access to the services of the 200 ATMs that are expected to be procured by Awash, Nib and United banks in the coming year.

PSS is established in 2010 by Awash, Nib and United banks for the joint use of ATM and POS services. Ethiopian banks can use the resources PSS  either by paying a one-time membership fee of 1.5 million birr or becoming a shareholder.

Berhan bought shares of PSS after four months of negotiations to become 16th shareholder and fourth bank to join PSS.

Source: Fortune