Central Banking

Ethiopia to overhaul payments system

nationa-bank-of-ethiopia

The National Bank of Ethiopia is undertaking a $3.6 million overhaul of the country's payments and communications systems, and aims to introduce a centralised, online and real-time environment (core) banking system within nine months. The central bank's counting, sorting and shredding machines will also be centralised as part of the technology upgrade.

The goal is to integrate a variety of communication and technological platforms from within Ethiopia's financial sector, including the national

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