Oromia Bank ATM's to Allow Mastercard Use

Nov 19 , 2022


[ssba-buttons]

A partnership deal between Mastercard, EthSwitch, and Oromia Bank (OB) has brought the services of a global financial gain to Ethiopia. Holders of Mastercard's debit, credit and prepaid cards can use them. The deal by the trio was announced last week at Sheraton Addis. Tourists and locals carrying Mastercard payment cards can now withdraw local currency from ATMs operated by OB. The Bank has over 400 branches across the country; its paid-up capital reached 5.5 billion Br, exceeding the central bank's threshold by half a billion Birr long before the deadline in four years. Chief Officer for Corporate Banking, Feysel Yasin, said that his Bank is the first to use the shared infrastructure network of Etswitch to facilitate Mastercard payments. The EthSwitch network processes all these withdrawals. Established primarily to create an interoperable scheme for financial institutions and payment service providers. EThSwitch facilitated six per cent of the over 225 million Br worth of transactions made in Ethiopia last year.


Radar

Korenti, Agelegel Microfinance Ink EV Financing Deal

Korenti Auto Trading PLC has signed a strategic agreement with Agelegel Microfinance to provide accessible financing options for electric vehicle (EV) buyers. The partnership seeks to ease EV ownership by offering fair pricing and loan packages with affordable rates. The initiative supports Ethiopia's push for clean transport and aligns with national sustainability goals. Korenti's managing director said the move reflects the company's commitment to expanding electric mobility. Customers can now...


Radar

NBE Leads Week-Long Bank Supervision Application Forum

The National Bank of Ethiopia (NBE) is hosting a week-long Bank Supervision Application (BSA) User Group meeting that began on July 7, 2025. The BSA system, developed by a pan-African consortium of central banks including the NBE, automates supervisory work for financial regulators. NBE will take over the rotating BSA chairmanship in September. Opening the session, Frezer Ayalew, Director of Bank Supervision, stressed the need for modern tools to handle growing regulatory demands amid cyberse...


Radar

Six Fuel Companies Banned, Seven Warned, Authority Noted Illicit Activity

The Ethiopian Petroleum & Energy Authority has taken disciplinary action against 13 fuel distribution companies for illegally trading 2.8 million litres of fuel outside the digital system in the past two months. Six firms face a one-month suspension from the fuel import and trading market, while seven others received final warnings and must rectify their operations within a month. Director General Destawe Mekwanant (PhD) said the companies failed to monitor fuel stations and ensure proper...