CBE has been installing improved ATM, automated teller machines software since last Sunday which means faster transaction service.
The bank started the customer data migration and updating of the machines, according to Belihu Takele, communications manager of the Bank. The procedure took a week to finish updating the 800 ATMs out of the 1,700 machines in existence took a bit longer than expected due to technical failures.
The new software is loaded on the bank’s servers to manage the card related services.
Customers whom Capital talked with expressed frustration over the service interruption during the transition. Belihu said that the bank would have warned its customers if it knew the delay would happen.
“The change in the switch was being done with a project which will enable improved and additional services,” Belihu told Capital.
Long rows, both at the ATM stations and cashiers windows, were observed and customers were forced to spend hours waiting to withdraw cash.
The bank which currently holds 4 million cardholders conducts 400,000 transactions through its automated machines in Ethiopia according to Belihu. The bank has more than 16 million depositors in 1,240 branches withholding 510 billion birr worth of assets.
The 75 year old bank loans 437 billion birr and currently has 50 thousand staff.
CBE revamps its ATMS
Eritrea, Ethiopia opens airspace
The airspace between Ethiopia and Eritrea that has been closed by A Notice to Airmen (NOTAM) of the Ethiopian Civil Aviation Authority to the International Civil Aviation Organization (ICAO) has opened as of Thursday.
Sources at the authority told Capital that the airspace has been opened as of Thursday two days before the Eritrean president travels to Ethiopia for an official visit.
In relation to his visit last Sunday to Asmara Abiy Ahmed (PhD), Prime Minister, has agreed with Eritrean head of state President Isayas Afeworqi to re-commence road and air transport in addition to using sea ports in Eretria.
The visit of the two leaders has occurred after two decades since the outbreak of the border war and ’cold war’ peace condition.
Early this week Ethiopia Airlines (ET) announced that it would begin daily flights to Asmara as of July 17, which would be the first time since it stopped in May 1998. Its first flight would be with the most technologically advanced commercial aircraft, the Boeing 787, according to the statement Ethiopian sent to Capital.
The two countries agreed in 1993 to undertake commercial flights that will allow Ethiopian to fly without further negotiations.
According to reports, the PM’s flight route went via Djibouti to get to Eritrea. Since the Eritrean air space is opened the flights to the north will be shorter and more fuel efficient. For its flights to the Middle East and other countries in the north, ET has been forced to use the airspace of Djibouti and Sudan, which is more costly in terms of time and fuel.
Other airlines that use this area has also been affected by the NOTAM in relation to the Civil Aviation Authority NOTAM which announced the opening of the airspace to Eritrea, other airlines will also use this space.
Coffee revenue declines by USD 44m
Coffee export earnings, which is Ethiopia’s major source of foreign currency, declined during this past fiscal year even though the volume of coffee exports rose.
During the 2017/18 budget year, which ended July 7, USD 838.2 million came from coffee exports. A year ago the brought in USD 882 million. That is a reduction of USD 44 million.
In the 2017/18 budget year 238,465 metric tons were exported throughout the world. In 2016/17 225,668 metric tons of the green bean were exported, according to the latest report from the Coffee and Tea Development and Marketing Authority.
Coffee revenue is far from what was hoped for in the GTP II matrix.
According to the authority’s report, the achievement for the year was 88.2 percent in volume and 72.4 percent in value.
Germany has continued to be the major destination for Ethiopian coffee with 22 percent share of the total export volume. According the report the Coffee and Tea Authority revealed, Germany has imported 51,634 metric tons with USD 145 million revenue, which is 17 percent of the total revenue.
USA and Saudi Arabia stood in the second and third position. The US has bought USD 141 million worth or 26,656 metric tons, while Saudi imported 37,405 metric tons of coffee with USD 121 million. Japan, Belgium, South Korea, Italy, Sudan, France, and UK are in third to tenth place respectively.
From the total export these ten importers covered 86.2 percent and 84.4 percent of the volume and the value respectively.
METEC building construction delay costing Tourism Bureau millions
The Addis Ababa Cultural and Tourism Bureau (AACTB) wants to have its own office. However the agency reports that because of slow G+12 head office construction work being done by the Metals and Engineering Corporation (METEC), the bureau has wasted nine million birr on house rent.
Currently the bureau is paying 538,000 birr a month to rent an office around Arat Killo. Since 2014 they have paid 25 million birr in rent. When the building is finished it will be the office for ACTB, the Addis Ababa Children and Youth Sport Center, a theater and a game emporium. Six years ago METEC agreed to complete the project at a cost of 348.3 million birr in three years time. However, the corporation requested an additional 200 million birr from the Addis Ababa City Administration Construction and Housing Development Bureau (ACHDB) to complete the project.
The hard currency shortage and the increasing cost of finishing materials are the reasons given by METEC for the total increasing cost of the construction.
ACHDB is not happy with METEC’s request. They wrote a letter to the Cultural and Tourism Bureau to administer the project but the bureau told the construction bureau to finish the project. A letter is signed by Tesfaye Omega, vice head of ACTB said the misunderstanding between the construction bureau and the consultant is costing time and money.
“By no means transferring the administration to cultural bureau is not a fair thing. The construction bureau has not had good coordination with the consultants. When the consultants ask for a price adjustment ACHDB, which made the deal in the first place, has the duty to entertain the question but instead it is trying to escape the challenge by transferring the problem to us which is not legal.”
Habtamu Tekle, the Addis Ababa Children and Youth Center CEO told Capital that poor supervision by ACHDB is the big reason behind the delay of the project.
“METEC asked for a price adjustment to ACHDB one year ago but they replied recently and told the cultural bureau to administer the project. It is misunderstanding by stakeholders that is retarding the project.”
He added that the building work needs a fast response from the administration so the building can be finished and used for its indented purpose.
Addis Ababa Children and Youth Center is currently using an old hall located in Arat klilo.
