EthSwitch Moves Into New 12-Storey Headquarters in Casanchis

Jun 8 , 2025


[ssba-buttons]

EthSwitch, the national payment switch, has acquired a 12-storey headquarters in Casanchis, near Bambis Supermarket and behind Enat Bank’s head office on Guinea Conakry Street. The company had previously been operating from rented offices. Owned by all commercial banks, the central bank, microfinance institutions, Payment Instrument Issuers (PIIs), and Payment System Operates (PSOs), EthSwitch serves as a central hub for routing electronic transactions between payment methods and financial institutions. It plays a critical role in enabling interoperability, supporting faster, safer, and more reliable digital payments. The new facility is expected to enhance operations by housing key infrastructure including a Data Center, Network Operations Center (NOC), and Shared Operations Center (SOC), allowing for 24/7 monitoring, improved security, and scalability. It also eliminates annual rental costs of 42.9 million Br, freeing up resources for innovation and strengthening system resilience. The move aligns with EthSwitch’s goal of becoming “Africa’s best-in-class payment network by 2035” and supports strategic efforts to boost efficiency, collaboration, and responsiveness to digital innovation. However, financial expert Ameha Tefera (PhD) expressed concerns about performance, noting a decline in profit per transaction. He attributed this to rising expenses and suggested a review of product lines, as general and administrative costs have outpaced revenue growth. EthSwitch’s investment underscores its commitment to secure and affordable financial services, reinforcing its role as the backbone of digital payments and financial connectivity.


Radar

Construction Sector Faces 'Serious Trouble,' Minister Warns

The construction industry in Ethiopia is in "serious trouble," said Chaltu Sani, Minister of Urban & Infrastructure Development, citing major challenges with finance, competitiveness and material costs. Speaking at the opening of the BIG 5 Construct Ethiopia expo and the inaugural East African Infrastructure & Water Expo at Millennium Hall last week, Chaltu stressed the need for concerted efforts from government, private sector, and international partners to support the 67 billion dol...


Radar

Wegagen Bank, Gift Real Estate Partner to Promote Diaspora Homeownership

Wegagen Bank S.C. and Gift Real Estate Plc. signed a Memorandum of Understanding (MoU) on June 23, to offer housing loans for homebuyers, with a special focus on the Ethiopian diaspora. The agreement enables eligible diaspora members to access loans covering up to 80pc of a home's value at reasonable interest rates. The bank's Deputy CEO Kidane Gebreselassie noted the deal will promote the real estate sector and expand homeownership options. Founder and CEO of Gift Real Estate, Gebreyesus Igata...


Radar

Jimma University Signs Sports Science Agreement to Strengthen National Programmes

Jimma University has signed a four-party Memorandum of Understanding (MoU) with the Ethiopian Academy of Sciences, Derartu Tulu Sports Training & Research Institute, and the Oromia Youth & Sport Bureau to advance Ethiopia's sports science and training capacity. Signed on June 26, the agreement includes joint research, shared facilities, and hosting of national and international competitions. It is expected to strengthen youth development, public health, and national pride through coor...