A few weeks ago, two BPC
executives told EPI that Ethiopia was one of the top
three African countries the industry should certainly keep an eye
on. And how right they were.
When the Commercial Bank of Ethiopia (CBE)
announced on 9 February it is ready to invest $5.8m in the
expansion of its ATM network, the world’s top ATM suppliers geared
up for the bank’s attention.
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The CBE is looking to spend $5.8m on 420 cash
machines and 600,000 EMV cards to become the country’s largest ATM
provider service provider.
It will be acquiring twice as much as the
number of all machines now operating in the Ethiopian market,
surpassing – by far – the number of ATMs its competition has:
Dashen Bank has 85 ATMs of; the consortium of
United, Nib and Awash Banks has 60; Wegagen bank has 27 and Zemen
has 25. In contract, the CBE has 58 ATMs.
Such is the potential of the Ethiopian market
that Diebold, Wincor Nixdorf, Axis, Neuronet, NCR and GRG Banking
are among those taking part in the tender through local
representatives.
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By GlobalDataNCR has a partnership with M2M Group, an
e-transactions processor, which last year won a contract with the
CBE to provide switching services. Almost all of the CBE’s current
ATMs are run by M2M.
The bank has about 500 branches and holds a
80% market share in consumer finance. But it has lagged behind of
smaller rivals in terms of investments in IT technology.
