2merkato

Ethiopia’s national Electronic Fund Transfers has seen interest from a dozen international information technology companies and their domestic partners.

The switch system for the national EFT is a technology that will allow customers to transact money from nearby ATMs with payment cards from any bank that is part of the system by centralizing the card payment system of all banks linked to the national payment system of the central bank explained Bizuneh Bekele, General Manager of EthSwitch SC.  

EthSwitch was established last year with an initial capital of 80 million birr equally contributed by all banks operating in Ethiopia. The board of the company is chaired by Berhanu Bekele, General Manager of United Bank.

Ethiopia's National ID Program has extended its partnership with MOSIP (the Modular Open Source Identity Platform) via the signing of a memorandum of understanding (MoU). The partnership enables the NIDP to perform extensive field tests and a pilot rollout with a goal of 100,000 registrations using the Ethiopian National ID solution.

Ethiopia’s oil import bill for the current fiscal year is going to go down by USD 600 Million, which is an estimated 21 percent of the overall import bill.

Aba Samuel Hydroelectric Power Plant, the oldest hydroelectric power plant in Ethiopia, is going to restart operation in two years time after 40 years.

Ethiopia’s Omo Kuraz Sugar Factory II is planned to go operational by 2017, according to the report of Walta Information Center (WIC).