CBE and Addis Ababa Finance Bureau partner to expand internet banking services
Date: 2026-04-08
By: Nana Appiah Acquaye
The
Commercial Bank of Ethiopia (CBE) and the Addis Ababa City State Finance Bureau
have signed a Memorandum of Understanding to enhance internet banking services
and modernize financial operations across the city. The agreement aims to
centralize the city administration’s accounts and improve efficiency,
transparency, and accountability in financial management.
Dr.
Eskinder Asfaw, Vice President of CBE’s Hall Cell, stated that the bank is
collaborating with various institutions to advance the Digital Ethiopia
initiative, with 99 percent of federal institutions already using CBE’s
internet banking platform. Under the new agreement, the Finance Bureau will
leverage the system to manage accounts in 119 districts, 600 schools, and
health centers.
Deputy
Mayor and Finance Bureau Head Abdulkadir Redwan emphasized the importance of
CBE’s internet banking in monitoring and managing the city’s development
projects around the clock. He described the partnership as a strategic move to
achieve the administration’s financial objectives efficiently.
CBE
has also expanded its digital services to cover payments for water and
electricity, traffic fines, housing development, and other sectors,
transferring over Birr 15.4 trillion through digital banking channels in the
past nine months.
