The Danish IT supplier will partner with the bank to provide the software to facilitate money transfer options from mobile phones including sending and receiving money, paying bills and buying airtime.
Re-wire will in turn receive a share of the revenues earned from providing these said Endeshaw Kebede, Head of the IT Department of Addis. He however declined to disclose how much the bank will be paying for the technology upfront.
The mobile money user services offered by Addis will allow transferring money to non registered users with the aim of reaching the segment of the population that does not have access to banking services said Hailu Alemu, President of AdIB.
It is to be remembered that the National Bank of Ethiopia is preparing a draft directive that will establish the framework for mobile transactions not yet permissible in Ethiopia.
The bank has already had some consultations on the draft directive and is in the process of finalizing it according to Solomon Desta, Director of Bank Supervision with the NBE. It is expected that the directive will be issued shortly he added.
Several banks have included mobile banking services in their system with this in mind while international mobile banking technology providers are setting up local branches in anticipation.
Addis Bank has opted to get these solutions now to be prepared to launch services once the central bank gives the go ahead according to Hailu.
Addis plans to select agents to provide mobile banking services including businesses, and cooperatives as soon as the directive is ratified said Dagnew Gesesse, Business Development Manager with AdIB.
Source: Addis Fortune
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