To create a move convenient experience, Commercial Bank of Ethiopia (CBE) and the Federal Documents Authentication and Registration Agency (DARA) agreed to collect payments electronically through, CBE birr, as the world moves toward cashless payments.
The agreement was signed on March 4 in Zagwe Hall at one of the CBE branches near the Federal High Court.
Previously agency customers had to pay with cash, forcing them to wait in long lines. If the fee was over 3,000 birr they had to pay via CPO. This is has been a source of discontent for many, according to Meresa G.Yohannies, DARA Director.
Both parties worked together for the last six months to facilitate the project and over 40 CBE agents were recruited to provide the service at almost every agency branch.
“The agreement marks CBE’s vision to digitalize banking we hope this will become a benchmark for other service sectors,” Dereji Fufa, CBE’s Banking Service Director said.
The new CBE birr product benefits everyone as it increases deposits and saves time. The system also will employ CBE birr agents. To qualify one needs 10,000 birr in capital and a license.
The service is given in all 14 branches of the agency in Addis Ababa and one in Dire Dawa. “The agreement will reduce cash flow risks and modernize the Agency’s service delivery system,” Meresa added.
Presently DARA serves over six thousand customers per day.
