Radar | Nov 21,2020
Dashen Bank has rolled out a data centre for nearly a quarter of a billion Birr. Installed by two local firms, the centre is expected to enhance networking and security systems at one of the country's oldest private commercial banks.
IPCOM Technologies, in business since 2010, built the data centre, while eSafe IT Solutions Plc, incorporated in 2017, installed the networking and security facilities. The two firms were among the seven companies that responded to Dashen's call for expression of interest a year ago. It took them eight months to complete construction and installation works, with the centre having the capacity to store five years of the Bank's data.
It comprises 46 racks, cooling systems, uninterruptible power supply (UPS) units, and generators. A single rack can host over 100 servers.
The centre requires close to 700kw of electric power to operate.
Incorporated with a paid-up capital of three million Birr, IPCOM bought the data centre components and hardware from Chinese tech giant Huawei. The company has previously been involved in similar projects at other financial institutions, including the Cooperative Bank of Oromia, Zemen Bank, and Amhara Credit & Savings Institution. Dashen Bank paid IPCOM 160 million Br.
Founded in 1987, Huawei has had a significant presence in the Ethiopian market over the past decade. It was behind Ethio telecom's data centre launched last year. It is also heavily involved in the state telco's 41 million dollars 5G network.
The data centre business is booming, as several are under development at the Addis Abeba ICT Park on the capital's eastern outskirts. Five companies, including Wingu.Africa, the Raxio Group, and RedFox Solutions, have broken ground on the construction of their facilities in the park. Wingu.Africa, an international data centre developer and subsidiary of a parent company incorporated in Mauritius, is owned by founders from Cyprus and the United Kingdom. Africa Capital Works, an investment fund, holds a stake in the company.
It began developing its data centre in Ethiopia two years ago on a 15,000sqm plot. The company has completed the first phase of its project; the second is underway.
“The market for data centres is enormous,” said Nicholas Lodge, chief strategy officer for Wingu.Africa.
Three months ago, Wingu.Africa signed lease agreements with five companies, including Goh Betoch Bank and the Bank of Abyssinia.
Dashen's new data centre is housed in its headquarters on Sudan Street, across from the National Bank of Ethiopia (NBE). The Bank plans to use its previous data centre around Wello Sefer, in operation for the past eight years, as a backup. It has the capacity to store 100 terabytes of data.
"The previous network system could no longer accommodate the growing transactions," said Anteneh Tadesse, director of IT infrastructure.
Dashen Bank had mobilised nearly 75 billion Br in deposits, recording a 39pc growth. It saw close to 30 branches opened, bringing its network to 454.
Under the management of Asfaw Alemu, Dashen Bank is among industry pioneers in digital banking services. The subscriber base for Amole, Dashen's digital payments platform, was close to 2.4 million by the end of the last financial year. It operates 403 ATMs and 1,340 points of sale (POS) terminals.
Dashen has been using Oracle Flexcube, a universal core banking solution, for the past 20 years. It has been four years since the Bank upgraded its core banking software at the cost of 140 million Br, the second upgrade since 2010.
“We're planning to upgrade again in the next few months,” said Anteneh.
The executives of Dashen have plans to erect an additional recovery data centre in compliance with central bank rules. Two months ago, the central ordered commercial banks to build a recovery data centre, 120Km away from the main site.
Solomon Mohammed, an IT infrastructure expert who has worked in the industry for nearly a decade, applauds Dashen Bank's investment in a modern data centre. However, he doubted the Bank would use the data centre to the fullest.
“The investment and the storage capacity are way beyond its needs,” he said of the 26-year-old Bank, which netted 1.73 billion Br in profits last year, with earnings per share at 471 Br.
Three years ago, Dashen Bank's close competitor, the Bank of Abyssinia, upgraded its data centre at the cost of 100 million Br.
PUBLISHED ON Jun 25,2022 [ VOL 23 , NO 1156]
Radar | Nov 21,2020
Radar | Feb 01,2020
Covid-19 | Apr 04,2020
Fortune News | Nov 21,2020
Radar | Feb 19,2022
Radar | Jun 08,2019
Fortune News | Jul 06,2019
Radar | Dec 10,2018
Radar | Jan 25,2020
Radar | Nov 09,2019
Dec 24 , 2022
Biniam Mikru heads the department of cabinet affairs under Mayor Adanech Abiebie. But...
Jul 2 , 2022 . By RUTH TAYE
On a rainy afternoon last week, a coffee processing facility in the capital's Akaki-Qality District was abuzz with activ...
Nov 27 , 2021
Against my will, I have witnessed the most terrible defeat of reason and the most sa...
Nov 13 , 2021
Plans and reality do not always gel. They rarely do in a fast-moving world. Every act...
Leaders of the National Election Board are in a charm offensive mood, of a sort. Last week, they organised a rare tour for members of the me...
When the country's most senior diplomats and envoys return back to their posts after two-week debriefings, they leave behind a point or two...
Feb 4 , 2023
Rene Lefort is a French journalist with a keen interest in Ethiopia, spanning over ha...
Jan 28 , 2023
It is not common to see an appointment for a senior federal government office stir de...
Jan 21 , 2023
Eyob Tekalign, state minister for Finance, took to social media platforms last week t...
Jan 14 , 2023
The longing for normalcy and a semblance of individual and collective security in Eth...
Folks awed by the devastating national exam results have ignored the massive crisis that engulf the academic sector for nearly half a centur...
Inspired by the stories of business people who started small, I have been on the quest to decode the custom-made recipe of wealth for th...
Or see contact page