Ethiopia: United Bank officially launches agent banking
The service will provide banking services to people living in remote areas.United Bank has officially launched an agent banking service on Friday 24th April in Ethiopia.
United Bank President Taye Dibekulu said at the launch that the new service - named Hi-bir Agent Banking Service - would enable people to undertake any transaction at any of the bank's agents such as gas stations, supermarkets or small shops - providing reliable banking services to remote areas of the country, the Ethiopian Herald reports.
He said this would benefit agents as they would be commissioned for the service delivery, as well as customers, who would gain local access to banking services.
So far, around three thousand customers have registered to use the service and there are 93 agents across the country.
Anyone who is involved in legal business within Ethiopia can be an agent of a financial institution and the services to be rendered include receiving money, withdrawals, transfers, paying for services and checking balances. The bank will also provide mobile banking services.
With 92 million people and only 10 per cent of the population accessing banking services, Ethiopia is a strategic market for banking groups. Twenty banks are currently operating in the country.