Berhan Bank Introduces m-POS Service

Jun 12 , 2021

Berhan Bank has taken a step in availing cashless services following the launch of a mobile POS (m-POS) service in collaboration with Santim Pay last week. An m-POS is a smartphone or tablet that can perform the tasks of a cash register or a traditional POS machine wirelessly. Santim Pay developed the system in six months and it is interoperable with the ATMs of any of the commercial banks. Santim Pay is one among dozens who rushed to attain a payment operators license after the central bank issued a directive permitting private companies to join the sector in 2020. Berhan Bank recorded a net profit of 551.6 million Br over the last fiscal year while its paid-up capital increased to just under 2.5 billion Br.



Street vendors around the Shola area take a rest in the shades of the capital's newly planted trees. Upon reporting on its 10-month performance before Parliament, the Agriculture Minister, Girma Amentie indicated that up to 43pc of the arable land in the country has been rendered acidic. This requires large amounts of limestone to be imported from abroad; the tight forex crunch has not allowed the Ministry of Finance to fund the endeavour easily. Following the rallying call of the Prime Minister...



Residents of communal houses around the Weji area hang their clothes on the fences outside. Textile manufacturing accounts for 87pc of Ethiopia's products from industrial parks. Expulsion from the African Growth & Opportunity Act (AGOA) due to the war in the North resulted in Ethiopia being expelled from the preferential trade act. Most companies choosing to rent sheds within the industrial parks do so out of a desire to access the duty-free privileges provided for African countries. Ethiopi...



Vendors put traditional beauty products from the Somali Regional State for sale around Mexico area. In November of last year, the Ministry of Finance banned imported goods under 38 categories, including cosmetics, packed foods, and furniture, from accessing letters of credit. The move resulted in the tripling of costs for cosmetic items like lipstick and nail polish. As Ethiopia ran a 14 billion dollar merchandise trade deficit last year due to import bills hiking by 26pc , a tight clampdown on...