Ministry of Finance, CBE roll out E-Government Procurement Card

Addis Ababa, August 31, 2023 (FBC) – The government’s digital procurement card, a joint project of the Ministry of Finance and the Commercial Bank of Ethiopia, was launched earlier today.

In the presence of the Minister of State for Finance, Mr. Eyob Tekalgn and the President of the Commercial Bank of Ethiopia, Mr. Abe Sano, and finance officers from different government institutions, a discussion was held on the implementation of electronic payment system in federal government institutions.

It is said that the government’s digital procurement card will enable government institutions to make digital procurements and properly manage government expenditure.

It is indicated that over 170 institutions have entered the electronic transaction system through the Commercial Bank of Ethiopia where some 3.3 trillion Birr financial transactions were made in the 2022/23 Ethiopian fiscal year.

During his speech at the launching event, President of the Commercial Bank of Ethiopia, Abe Sano, stated that the electronic procurement system is registering successful results in a short period of time.

In addition to the electronic government procurement card, other digital payment services will be launched eventually, he confirmed.

Minister of State for Finance, Eyob Tekalgn, on his part, stated that the Ministry of Finance will work in cooperation with CBE to ensure the electronic procurement project is effective.

He said that government transactions play a big role in Ethiopia’s economic system, so working with the bank will make a big difference.

Underlining the need for improved service provision to address the issues that arise frequently, the Minister of State urged the relevant stakeholders to quickly adopt this system.

It is stated that the realization of a digital payment system is significant in terms of improving the payment system and reducing potential financial risks.