E-Passport Service Begins with Local Production Set for October


E-Passport Service Begins with Local Production Set for October

Immigration & Citizenship Services (ICS) has commenced e-passport issuance supported by an inventory of 1.5 million passports, with local production scheduled to begin in October. ICS invested 2.5 billion Br in telecom and data center infrastructure, and an additional 80 million dollar in document procurement. This included 1.5 million passports (50 dollars each), 300,000 alien passports and yellow cards (eight dollars each), and half a million emergency travel documents and laissez-passers (five dollars each) “This is a massive investment,” ICS Deputy Director-General Gosa Demissie told Fortune. Passport holders may continue to utilize their existing documents until expiration. Officials have announced that the e-passport service will maintain the current fee structure and assures delivery within a period of two months and 10 days. Toppan Security Ethiopia S.C., a joint venture established in 2023, has expedited e-passport printing at its 55 million dollar industrial security plant in Bole Lemi Industrial Park. The venture comprises Toppan Gravity (51pc), a subsidiary of Japan-based Toppan Inc., and Ethiopian Investment Holdings (EIH), through its subsidiaries, Berhanena Selam Printing Enterprise (BSPE) and Education Materials Production Distribution Enterprise (EMPDE). Brook Taye (PhD), CEO of EIH, described the arrangement as “one of the most important strategic investments to date.” At full capacity, the plant is expected to print over five million passports annually and will also implement a digital identity verification system. The e-passports feature an embedded chip that stores MRP data and biometric information, including facial recognition, fingerprints, and iris scans, increasing security.

[ssba-buttons]

Radar

EthSwitch Sees Record Profit, Expands Digital Payment Reach

EthSwitch, the national switch operator, reported a record 1.4 billion Br gross profit for the fiscal year ending June 2025, a 34pc increase from last year's 1.06 billion Br. The performance was driven by a sharp rise in interoperable transactions, reflecting the country's growing embrace of digital payments. Person-to-person (P2P) transfers led revenue generation with 902.6 million Br, nearly half of total income, followed by ATM transactions contributing 825.1 million Br. Overall revenue cl...


Radar

Lion Bank Delivers Robust Results, Rewarding Shareholders

Lion International Bank S.C. posted a profit before tax of 1.8 billion Br for the last fiscal year, marking a 94pc surge from the previous year. The announcement was made during the bank's General Assembly held last week at the Sheraton Addis Hotel. After provisions and taxes, the bank registered a net profit exceeding 900 million Br, with shareholders earning 27pc per share. Deposits climbed by 23pc to 44 billion Br, up from 35.6 billion Br, while total loans and advances reached 36.2 billio...


Radar

Berhan Bank Lifts Earnings as Reforms Ease Forex Strain

Berhan Bank reported a 28.1pc growth in its latest fiscal year, buoyed by economic reforms and relaxed forex directives. The Bank's total deposits climbed to 44.5 billion Br by June 30, 2025, up 7.6 billion Br from the previous year. Net profit distributed to shareholders rose by 36pc, while total income reached 10.3 billion Br, marking a 61.4pc increase. Interest income accounted for nearly 59pc of total earnings, driven largely by the repeal of the National Bank's 70pc forex surrender rule...