EthSwitch Celebrates 10th Anniversary

EthSwitch S.C, Ethiopia’s national payments switch celebrated its 10^th Anniversary in a colorful ceremony in the presence of high-level government officials on December 16, 2021 at Hilton Addis Ababa. The Anniversary event was conducted on the same day as at the 8^th General Shareholders’ Meeting of the company. During the event, it is also announced that EthSwitch has facilitated a total of 38 million interbank ATM transactions in the fiscal year of 2020/21as disclosed by Ato Tsehay Shiferaw, Chairman of the Board of Directors of Ethswitch.

The Anniversary event was attended by H.E. Dr. Yinager Dessie, Governor of the National Bank of Ethiopia, H.E. Dr. Eyob Tekalign, State Minister of Ministry of Finance & Economic Cooperation, Ato Solomon Desta, V/Governor of the National Bank of Ethiopia as several other guests from the finance & payments industry.  The event also entertained a panel discussion on the impact & significance of EthSwitch to the finance & payments ecosystem featuring Ato Melaku Kebede, CEO of Hibret Bank & Dr. Abiyot Bayou, Director General of the Digital Transformation with the Ministry of Innovation & Technology, moderated by Henock Assefa, the Managing Partner at Precise Consult.

During the Meeting, Ethswitch also recognized the best performing banks in interbank ATM transaction success rate, in which Dashen Bank & Bank of Abyssinia (joint 1^st), Commercial Bank of Ethiopia and Oromia International Bank completed the podium as top four.

It also recognized individuals who served as its Board of Directors since the inception for their contributions in the establishment & successful journey of EthSwitch, including Ato Getahun Nana, the former Vice Governor of the NBE and Ato Bizuneh Bekele, EthSwitch’s first CEO. Notable recognition was also afforded to three of EthSwitch’s development partners; Bill & Melinda Gates Foundation & the African Development Bank, for jointly granting EthSwitch a total of USD 10.7 million, and the World Bank for its long term support in various projects.