CBE Embarks on Digital Fuel Payment Platform

Aug 20 , 2022

The state-owned Commercial Bank of Ethiopia (CBE) has struck a deal with a local software developer for an application that would enable digital payments at fuel stations. Dubbed "Nedaj", the app developed by Eaglelion System Technology Plc over the past year will be able to integrate CBE accounts to allow users to transact payments for petroleum products. The Bank is rolling out a pilot project using over 1,300 vehicles it owns. Incorporated three years ago with 15 million Br in registered capital, Eaglelion has previously developed micro-credit and digital remittance platforms for Dashen Bank and the Bank of Abyssinia. The CBE has registered over 27.4 million accounts on its digital platforms. Its digital network comprises close to 40,000 CBE Birr agents and 68,000 merchants. The Bank operates over 1,800 branches and close to 2,800 ATMs.


Addis Chamber Embarks on Leadership Forum

A leadership forum where prominent executives will share their experiences in the business environment is organised by the Addis Abeba Chamber of Commerce & Sectoral Association (Addis Chamber) and SAK Training & Consultancy Firm. Headlining Arega Yirdaw (PhD), president of Unity University, who is expected to address the fortunes and adversities of the leadership ecosystem and share insights into his cascade of experiences, the first round is expected to set off at the Inter-luxury H...


Wegagen Bank Launches its Mobile App

Embracing the digital realm, Wegagen Bank officially launched its mobile banking application last week. The App was inaugurated in Dire Dewa City, with Yehwalashet Zewdu, vice president of the Bank Enterprise Services, showcasing its service that provides secure and seamless financial services. According to Yehwalashet, Wegagen Mobile meets the evolving needs of its clientele in Amharic, English, Afan Oromo, Tigrigna and Somali languages. Incorporated in 1997, Wegagen Bank has grown to become...


Zemen Bank Joins IFC's Trade Finance Program with $30m Boost

Zemen Bank has secured a 30 million dollar trade finance guarantee from the International Finance Corporation (IFC) to boost the trade finance operations. A member of the World Bank Group, IFC has welcomed Zemen as the newest member of its Global Trade Finance Program aimed at supporting exports and imports. Signed by Dereje Zenebe, president of Zemen Bank and Madalo Minofu, country manager of IFC, the trade financing is part of the one-billion-dollar Africa Trade & Supply Chain Finance P...