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Microfinance Institutions SwellFortune Vol. 22 No. 1126 Nov. 28, 2021                                     NEWS                               Page 7

National Switch Operator Ranks

                                     They are not required to buy shares to join

By YARED SEYOUM                      buying shares remains optional.                                      platform operated by Premier       all the requirements to join
                                                                                                          Switch Solutions, a company        EthSwitch, Damtew told Fortune.
  FORTUNE STAFF WRITER               Somali Microfinance was the first    There were close to             incorporated by banks including
                                     MFI to get accepted by EthSwitch     5,000 ATMs, 10,000              Awash, Hibret, and Nib.            Addis Credit is growing to a
The rank of microfinance             in May this year after acquiring      PoS terminals and                                                 commercial bank with a paid-
institutions (MFI) joining           1,035 shares at a par value                                          There were close to 5,000 ATMs,    up capital of nearly four billion
a national payment system is         of 1,000 Br. Not all financial          15 million card              10,000 PoS terminals and 15        Birr, rebranding itself as the
swelling following three MFIs        institutions have joined EthSwitch,  users in Ethiopia as            million card users in Ethiopia     'Bank of Addis'. Oromia Credit,
showing strong interest in           a reason for the directors of                                        as of June 2020, a report from     serving 700,000 customers, is
acquiring shares with EthSwitch      EthSwitch to decide how to accept         of June 2020.              EthSwitch reveals.                 also preparing to join the industry
S.C.                                 new members moving forward,                                                                             as 'Siinqee Bank' with a paid-up
                                     says Fikru Woldetensie, director     transfer system EthSwitch       MFIs have the advantage of using   capital of seven billion Birr.
The three MFIs joining EthSwitch     of marketing and innovation of       launched last month. They       an extensive network of ATM and
as shareholders serve close to       EthSwitch.                           can issue debit cards to their  point of sale (POS) machines       Rays Microfinance has progressed
1.5 million customers; EthSwitch                                          customers using the operator's  that they do not have to invest    farthest in its bid to integrate
allows their clients to complete     Last September, the three MFIs       system, which it avails to any  in, say experts in the industry.   with EthSwitch. Established in
transactions with member banks.      began the process, reaching the      member without a switch system  Kinfemicheal Yibkaw, a digital     June 2014 by six investors with
EthSwitch was incorporated in        integration phase recently, where    of its own. Six commercial      financial services expert, is one  a paid-up capital of 10 million
2011 with an equity of 12 million    their core systems are linked with   banks have a switch system,     of these experts who believe       Br, Rays is also expanding on
Br raised from all the banks.        EthSwitch.                           while six others use a shared   EthSwitch's infrastructure offers  its success in the digital finance
Recently established banks –                                                                              the clients of these MFIs a range  space through its mobile money
ZamZam, Hijra and Goh – have         These are part of the 41 MFIs                                        of additional transactions.        service, Sahay. It is a platform
also become shareholders.            operating in the country with                                                                           launched in February last year,
                                     52.4 billion Br in aggregate                                         "The most important benefit we     enabling customers to deposit,
Rays Microfinance, Addis Credit      deposits, a 17.2pc increase from                                     get from joining EthSwitch is      transfer and withdraw cash. Sahay
& Saving Institution, and Oromia     the previous year. Eleven of these                                   for our customers to withdraw      has onboarded close to 12,000
Credit & Savings have finalised the  are public-owned, including                                          money from any ATM easily," said   merchants and 2,400 agents
requirements to join EthSwitch,      Addis Credit and Oromia Credit                                       Damtew Alemayehu, CEO of Addis     during its first year of service.
such as having a settlement          & Savings.                                                           Credit, established in 2001.       The majority of its 600,000 users
account with the National Bank                                                                                                               reside in the eastern parts of the
of Ethiopia (NBE) or partnering      The microfinance institutions will                                   Addis Credit & Saving, serving     country.
with a bank that does. However,      also benefit from the interbank                                      250,000 customers, has met

                 A NN O U N C EMENT

                                                                          INVITATION TO BID

                                     INTERNATIONAL COMPETITIVE BIDDING (ICB)

                                     PROCUREMENT REFERENCE NUMBER AB-IT 12/2021/22

1.	 Awash International Bank S.C. is in the process of upgrading its          of copy of renewed Trade license, Certificate of registration,
    infrastructure as a result of implementation of various IT solutions      Tax Clearance certification, VAT Registration Certificate and TIN
    with other systems.                                                       Registration Certificate for local bidders.

2.	 The Bank, therefore, invites technically competent and                5.	 Bid must be accompanied by a bid bond amount ETB 500,000.00
    commercially competitive proposals from bidders for the supply,           (Five hundred Thousand) for local bidder and USD 10,000.00(Ten
    installation, configuration and documentation of Lenovo Flex              thousand) for foreign bidder. The Bid bond must be in the form
    Compute Nodes and other related Services.                                 of Bank guarantee or cash payment order (CPO) in favor of
                                                                              Awash International Bank S.C. from a) any local bank, b) Citibank
    i.	 LOT                                                                   N.A New York, c) Citibank N.A. London, d) Commerz Bank A.G,
                                                                              e) Deutsche Bank A.G, f) National Westminster Bank, g) ING
         b.	 Lenovo Flex Compute Node - Type 1                                Bank, Amsterdam. The bank guarantee should be issued by any
                                                                              scheduled Bank and it must be counter guaranteed by local bank.
         c.	 Lenovo Flex Compute Node - Type 2
                                                                          6.	 Bid document must be deposited in the bid box prepared for
         d.	 Chassis(Optional)                                                this purpose on or before January 11, 2022 at 10:00 AM in the
                                                                              above-mentioned address.
         e.	 Lenovo Certified DDR-SDRAM’s
                                                                          7.	 Bid opening shall be held at Office of Procurement and Supplies
         f.	 Veeam Availability suite                                         Management Directorate Awash Tower 12th floor in the presence
                                                                              of bidders and/or their representatives who wish to attend on
         g.	 Ultrium LTO Tape Cartridges                                      January 11, 2022 at 10:30 AM.

3.	 Bidding will be conducted in accordance with the open tendering       8.	 Interested eligible bidders may obtain further information from
    procedures contained in the Directives of the Bank and other              the Office of Procurement and Supplies Management Directorate
    Relevant Laws of the country, and is open to all bidders from             Awash Tower 12th floor Tel. 0115-57-11-07/00-84.
    eligible source countries.
                                                                          9.	 Failure to comply any of the conditions from item 2 to 6 above
4.	 A complete set of bidding documents in English shall be obtained          shall result in automatic rejection.
    from Procurement Division of Awash Bank located at Awash
    Towers 12th floor Bank side room No 12-02 upon producing              10.	The bank reserves the right to accept or reject the bid either
    receipt of nonrefundable fee of Birr 200.00 /Two Hundred/ by              partially or fully.
    depositing in Account Number 01540000544500, at any Awash
    International Bank S.C Branch during office hours (Monday to
    Friday 8:00AM-12:00PM; 1:00PM-4:30PM and Saturday 8:00 AM
    12:00AM) starting from Decemeber 1, 2021 upon Presentation
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