Dashen Bank Becomes Latest to Join National ID Programme Registration


Dashen Bank Becomes Latest to Join National ID Programme Registration

The executives of Dashen Bank signed an agreement with representatives of the National ID Office last week, availing the Bank's branch network for registration efforts. It is the latest in the industry to strike a deal with the office under the auspices of the Prime Minister's Office. Others include the state-owned Commercial Bank of Ethiopia (CBE), the Cooperative Bank of Oromia (CBO), and the Bank of Abyssinia. The National Bank of Ethiopia (NBE) has also agreed to work with the ID office, and the Ethiopian Postal Service Enterprise jumped on board earlier this month. Banks are eager to see the dallying programme get moving in order to meet the central bank's recently updated "know-your-customer" (KYC) directive, compelling them to verify their clients' data and consolidate multiple accounts under one unique ID.  The task has been a challenge due to the absence of a national ID system and biometric data, which make it difficult to identify duplicate accounts. Earlier this month, the Ministry of Innovation & Technology floated a tender for 315 biometric registration kits for the ID programme. Officials hope to see 70 million citizens registered by the end of 2025. A kit costs between 2,000 and 3,500 dollars.


Radar

Abyssinia Bank Strategic Moves Pay Off, Driving Profit Growth

The Bank of Abyssinia (BoA) enjoyed another profitable year, amassing 4.23 billion Br net profits, an increase of 10.5pc from last year. The Bank announced total assets of 222.3 billion Br, surging by 17.3pc. Total deposits mobilised through the year climbed by 33.97 billion Br to 192.51 billion Br, while loans and advances reached 167.7 billion Br. However, the bank exhibited a nominal decline in its foreign currency earnings totalling 424 million dollars. Earnings per share also showed a ma...


Radar

$100m Project Mulls Public Transportation Make-Over

A 100-million-dollar project aims to manufacture over 5,000 diesel-powered and electric public transport vehicles for the capital. The proposed project was launched hoping to replace the ageing vehicles and improve safety, efficiency and quality across the city's urban transport system. Last week saw an MoU inked between executives of Multiverse Enterprise Plc and Addis Abeba Minibus Associations and was held at Vamdas Entertainment near Megenagna. The agreement includes plans to replace 15,000...


Radar

Safaricom Soars with 6.1 million Customers

Safaricom Ethiopia reported significant commercial growth in the first six months of the 2025 fiscal year (April to September 2024), with notable increases in both mobile (GSM) and M-PESA services. The company's network and services reached a population coverage of 46pc, growing from 30pc in the previous year. This expansion was supported by the addition of over 1,000 network sites, bringing the total to more than 3,000 across the country. Safaricom Ethiopia saw a surge in its customer base,...


Back
WhatsApp
Telegram
Email