Finance Ministry, Commercial Bank of Ethiopia Launch Gov’t Procurement Card

The Ministry of Finance and Commercial Bank of Ethiopia (CBE) launched the Government Procurement Card today.

The bank and the ministry organized a workshop on government electronic payment performance with representatives drawn from the financial sector and different institutions in the country.

During the workshop, CBE President Abe Sano and Finance State Minister Eyob Tekalign officially launched the Government Procurement Card.

The Government Procurement Card will enable government budget offices to make digital payments and use government expenditure properly, it was indicated.

Implementing government procurement card will play big role in the economy and contribute to the facilitation of Ethiopia’s economic digitization drive.

State Minister of Finance, Eyob Tekalgn said works will be underway in collaboration with stakeholders in order to make the procurement card project effective.

He said enormous efforts have been carried out to realize the strategy of Digital Ethiopia, noting that the realization of digital transformation is one of the pillars of the country’s home grown economic reform.

The use of electronic payment in government procurements is one of the key tasks in this regard, the state minister added.

He pointed out that cooperation with the bank will bring a great deal of changes as government procurement plays crucial role in the Ethiopian economy stressing the importance of implementing digital payment system in easing the vulnerability of financial sector.

CBE President Abe Sano said for his part the electronic payment system being implemented in the country has been showing encouraging outcomes within a short period of its operation indicating that more than 3.3 trillion Birr was transacted through the system during the concluded Ethiopian budget year alone.

More than 170 institutions use CBE electronic transaction, it was learned.

Source: Ethiopian News Agency