Saturday, October 4, 2025
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SPEARHEADING DIGITAL BANKING

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On Thursday, July 21 2022, an official contract signing ceremony took place at The Sheraton Addis, with CR2’s CEO Fintan Byrne and Teferi Mekonnen, CEO of Oromia Bank. The contract signage cemented Oromia Bank’s selection of CR2’s BankWorld to advance their Digital Banking Transformation Strategy in Ethiopia.
CR2 which is a leading global channel-banking software provider delivering digital and ATM technology to financial institutions in more than 60 countries, through its twitter handled expressed, “This is another great win for CR2 as we continue to expand our presence in Ethiopia and build on our existing relationships within the market.”
Capital’s Metasebia Teshome, following the contract inking caught up with CR2’s CEO Fintan Byrne for a candid interview on the promising digital banking space of Ethiopia, and what customers ought to expect from this new partnership. Excerpts;

Capital: What does CR2 do?
Fintan Byrne: We provide digital banking and payment platforms to enable banks to execute their successful digital transformation strategies. So what that simply means is that we allow banks to utilize our technology to make sure that their customers whether they’re retail, SME or corporate, successfully transact digitally across mobile, internet, cards, and other channels that we support on our platforms.
We provide banks with Digital, Self-Service and Payments solutions to grow their business, optimize their customer service cost and deliver an enhanced customer experience. Our Digital Banking Platform enables banks to provide innovative, cost effective and end-to-end digital customer journeys across mobile, internet, self-service and payments.
Headquartered in Ireland, we are enabling over 100 banks in 60 countries seamlessly connect and engage with their customers on the most critical banking channels today and 35 on the continent of Africa alone. So we have a deep heritage in the market here. We’ve been in business in Africa for more than 20 years, and in Ethiopia for more than 10 years.
We work with some of the biggest banks like Absa, Standard Chartered Bank, Standard Bank and we’re delighted today to be announcing that we’ve signed a long term partnership with the Oromia bank to help them execute their digital transformation strategy as they try to grow and enhance their business.

Capital: How important is the agreement with Oromia bank for CR2 and the bank itself?
Fintan Byrne: It is equally very important for both CR2 and Oromia bank. For us, we see it as a long term partnership and we look forward to having successful years with the bank. Furthermore, for us, it gives us a jolt of confidence that a very successful bank like Oromia bank has chosen our platform as the platform to enable their digital transformation strategy. So it’s very important from that perspective, in giving us a lot of confidence. At a larger scale, it will also help us to expand our presence in Ethiopia. Thus it deepens our business here allowing us to continue investing and growing our team.

Capital: What benefits does this agreement give to customers of the bank?
Fintan Byrne: If you think about consumer needs, it is changing quite rapidly, in terms of not only just banking but also in other technologies as well as other industries. And we believe that our platform is the best platform to allow banks to really unlock the capabilities that they need to provide services on an Omni channel basis. So whenever the customer wants to transact, whether it’s on their mobile, internet, with a card, or whether it’s out of merchant, we provide that comprehensive solution to allow banks to allow their consumers to interact with the bank with the right service in the right channel at the right time, which is also 24/7.
So the key thing we do is providing a platform which allows banks like Oromia bank to differentiate their solution and design the journeys that they want for their consumers. This can entail designing solutions for customers and bettering bank interactions with customers at different market segments, and later use distinctive branding so as to cater for the different customers in the best way possible.

Capital: Do you think Ethiopia has an attractive market for digital banking?
Fintan Byrne: Yes, the Ethiopian market is indeed very attractive. With more than 112 million people, Ethiopia is the second-most populous nation in Africa and is home to the fastest growing economy on the continent. Ethiopia’s large population of unbanked, the government’s current digital push, and recent finance reforms are bringing new opportunities for fintech startups and financial innovation.
To bring Ethiopia into the digital era, promote innovation and improve financial inclusion, big reforms are needed. Banks are adopting new products and technology to give variety and quality of services to address their customers’ satisfaction.
Service quality and customer satisfaction have a positive relationship because customer’s satisfaction is one of the essential components of any organizations strategies, as the customer is the ultimate source of income for any industry. The quality of banking service is tested and measured here by the customer’s satisfaction.
Appreciating the technology in abundance, daily indoor and outdoor activities are carried out with the help of technology made devices and Fintech innovations. With all these collaborations in place it is positive to see Ethiopian banks on the same side for a change.
These digital developments are very essential for the overall financial sector and for creating the necessary foundations for an efficient retail payment system and broader financial inclusion within the country. Thus these steps being undertaken provide a very attractive and ripe market for digital banking.

Capital: How do you see digital banking evolving in the next 3 – 5 years?
Fintan Byrne: These new developments are expected to boost Ethiopia’s fintech sector, which industry observers and participants are confident that it will become the next fintech hub in Africa.
The future of banking is here, and as we examine, changes are expected to play out over the next few years in retail banking.
There will be high competition between technology providers in the years ahead. Cloud-based ERP, automation, and cognitive innovation will continue a pace, creating opportunities to radically simplify processes and free up people’s ways of doing things.
The current market is barely touched and has an ever growing potential. In addition, there is an additional major amendment regulation, which is the opening up of the financial sector and will continue to boost healthy innovative competition, which will bolster digital banking in the country.
When it comes to the field of Finance, we consider it our job to anticipate how organizations will evolve. And as the finance sector enters its golden age of technology, we can be able to drastically reduce the complexity and cost of technology, without sacrificing functionality. Thus I envision a progressive three to five years in the space of digital banking in the country.

Capital: Does CR2 have plans to expand its investment in Ethiopia?
Fintan Byrne: Very much so. Ethiopia is a very important market for us. We work with a lot of banks and today we are excited to add Oromia bank to that roster. We are more than interested to expand our investments through reaching out to other financial institutions since the market in Ethiopia is very attractive. To that regard we look forward to working with other financial firms on our platform.

Nebiyu Abate Zimmer

Name: Nebiyu Abate Zimmer

Education: Diploma

Company name: Zimmer Security

Title: Founder and CEO

Founded in: 2018

What it do: Security guard services

Hq: Bole behind DH Geda Mall

Number of Employees: 218

Startup capital: 25,000 birr

Current Capital: 350,000 birr

Reason for starting the Business: Self sufficiency

Biggest perk of ownership: Giving the best trust worthy service

Biggest strength: staying in this competitive market

Biggest challenge: Developing a foothold

Plan: Making our firm a competitive company

First career: None

Most interested in meeting: No one

Most admired person: My families

Stress reducer: Sport

Favorite past time: Work

Favorite book: None

Favorite destination: None

Favorite automobile: Volkswagen ID.4

Czech books in French for Alliance Ethio-Française

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On Monday 18 July 2022, on the occasion of the handover of the Presidency of the European Union from France to the Czech Republic, Pavel Mikeš, Ambassador of the Czech Republic to Ethiopia donated several books by Czech authors written or translated into French to the Alliance Ethio-Française in Addis Ababa in the presence of Rémi Maréchaux, Ambassador of France to Ethiopia and to the African Union
The books donated included novels, biographies and stories, and among the authors we received works by Franz Kafka, Karel Čapec, and Milan Kundera.
French language is spoken worldwide but Francophonie goes beyond what you think… Ethiopia is an observing member of the Francophonie.
Czech authors’ contribution to French speaking literature will be accessible in Addis Ababa from now on.

The Despicable Lot of the Condominium Blocks

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By Samuel Estefanous

And the never ending sad lot of the hard pressed city dwellers, you might add as well.
The drawing of the lot to determine the lucky winners of the Condominium blocks made available by the City Administration should have been a glorious event and occasion to celebrate. Instead it came to pass as one more sad betrayal of the ever indulging public by the corrupt bureaucracy of the incumbent. It will ever bug us on no end why the lot of the hard pressed city poor is thus compounded by the inefficiency of the authorities and the avarice of the well to do.
The Housing Development program was by all accounts one of the few a noble endeavors the previous administration has undertaken. A considerable number of hard core detractors of EPRDF try to belittle its significance attributing the effort to ‘buying’ the vote of the widely estranged city dwellers in the prelude to the landmark May 2005 election, something that never ceases to amaze me. That is what political organizations try to do- try to win the vote of their respective constituencies. On this one I have nothing to blame the authorities for except laud their effort and to flash a thumb up for eventually, albeit grudgingly, acknowledge the power of the people.
The Legal Framework
The Condo housing development program wasn’t just a paragraph in the declaration of the political manifesto of EPRDF. It had long become a government endeavor with definitive legislative foundation. A legal framework was put in place by the City Administration through regulations, among others

  • to commit to law the primary purpose of the project in the event of ambiguity as to who stands to benefit
  • to render exact definitions to the various programs encompassed in the project
  • to define and limit the powers of the authorities
  • to set the minimum preconditions to qualify for the lot and thereby determine eligibility
  • to define the manner of effecting periodic payments and to determine the rate of interest
  • to determine methods and manner of drawing the lot

A proclamation was adopted by the House of People’s Representative to regulate the private and communal ownership of the Condos and designate organs for the administration of the blocks.
One can positively conclude that visible attempts were made to forestall any possible misunderstanding and to avoid litigations.
Attempts to Hijack the Program
The Housing Program began sliding in to the realm of the vicious speculators in urban land when the government betrayed its public obligations to regulate and succumbed to the lures of financial interests and reclaimed a segment of each and every Condo blocks for commercial lease purposes.
The noble purpose of the program to benefit the low income city dwellers was in part forfeited when the city administration installed itself at the forefront of the queue and put claim to the prime floors of the Condos. The program wasn’t launched as a public business venture for the government. And the government has a much pressing issues of governance to take care of on daily bases that it cannot afford to collect rent and administer commercial premises.
The damage was multifaceted. To begin with the government has set a bad example by joining the scramble for the condos of Addis. Secondly it chose to stand to gain from the endeavor and commercialized the program. It opened the door for the evils of corruption to sneak through the back door.
When a Simple Inventory of the Units becomes an insurmountable Challenge
Something doesn’t feel right when responsible organs of the city administration openly admit that they don’t keep systematic track of the number of blocks, units and locations of the Condos built. A few years ago it was reported that a whole block of Condos were gone missing while some have been laying waste unclaimed and in shambles to date.
How could such a precious commodity become so cheap as to remain unaccounted for and unclaimed? I mean the dearth of housing is the foremost headache bothering both the government and the overwhelming majority of the residents of Addis Ababa. The abuse of and speculation in urban accommodation is the one single resource that had double quickened the demise of the previous administration. EPRDFites and their cohorts have allegedly traded and speculated in urban land without any qualms of conscience with such great abandon that they are reputed to have become overnight millionaires.
The rumor mills are churning out stories that the ‘neglect’ was effected by design and on purpose so that eventually insiders in the City Administration could claim them.
The Largesse of the City Administration to ‘Reward’ its employees
The City Administration flagrantly breached the overarching purpose of its own regulation when instead of enforcing the law, it ‘designated’ itself as a rightful owner of the Condo Units and began distributing them at will. Practically it dispossessed the rightful owners and gave away the booty out of the kindness of its benevolent heart.
Again it used the units to compensate residents who were ‘victims’ of legal expropriation. Though it may not sound legal, this is at least understandable, particularly when the displaced are former residents of the lot. But nothing justifies the largesse of the City Administration to ‘give away’ the property of the rightful prospective owners to its employees and others.
What would the City say in its defense if the eligible but unprivileged city dwellers were to bring a class action against the administration? Makes one wonder, isn’t this the classical case of being extremely generous against the purse of a third party?
Taking the City Administration to Court
Guess who took the City Administration to Court, though? Condo saving account owners who wanted the law courts to abrogate the 40/60 program and have it redefined by sheer judicial activism! In plain words they were pleading to have the possible beneficiaries who have been saving as required by the law to be ejected from the program. They don’t even realize they are possible active accomplices who had colluded with officials to hijack the housing development program. They might be guilty of aiding and abetting in a whole conspiracy to derail the program.
In this particular case the Addis Ababa City Administration was required to accord privileged status to those who could afford to close the account by paying up the total price of the Condos without bothering to resort to a system of periodic payment stretched out up until fifteen years. The first question that strikes one as an oddity is if these account owners have comfortable disposable income that enables them to ‘close account’ at one go, what in God’s good name are they doing in a housing development program launched to benefit the low income hard pressed city dwellers who couldn’t afford to do that? Aren’t they illegally sneaked in to the wrong program?
The 40/60 housing development program is exactly what it is called. Every single account owner who has saved 40% of the price of the Condo at the time of registration is eligible to have his/her name listed in the drawing of the lots. Here the market dynamism of paying more to earn better works against those with deep purse. But instead of keeping low profiles lest they should be ejected from the program themselves, they ‘washed their eyes with salty water’ and demanded that those who couldn’t afford to pay the whole price be denied the right. Isn’t this a total mockery of justice? Whatever happened to the wisdom of chiefly being guided by the ‘intention of the law maker’ in enforcing legislations?
Behold, tipping the balance of power checking mechanism at one end is certain to induce a domino effect that is going to crush the legal system in to the abyss. In our legal system judicial activism has absolutely no place and little role to play. In part that is why lawyers and justices have very much reduced role in litigation other than ‘applying the law’ or in rare cases ‘interpret’ it. Again that is why we are spared the legal trills and dramas of the Common law legal Systems.
This kinda reminds me a bickering between a lawyer and a prospective client. The client briefs a lawyer about his case regarding the purchase he had made and wants to retain the service of the lawyer. On his part the lawyer wants to know if his prospective client had the contract registered with the notary. This latter inquiry of the lawyer makes the prospective client snap and angrily he retorts
‘What do you mean ‘had it registered’? Why would I need your services if I had it registered?’ You see, when the law is beyond ambiguity there is little room left for creative lawyering.
I refrain from commenting on the recent blatant hijacking of the program almost pulled off by a bunch of daredevil saboteurs. But the crudity of the attempt has left a sour taste in our mouth. I mean at the end of the day it was a failure to match the number of eligible account owners and their corresponding names, isn’t it? The attempt is made even more perplexing when we were told that eventually it wouldn’t have come to anything even if they had succeeded as they would be unable to enter the contract with the Commercial Bank of Ethiopia.

We will wait and see.
God Bless.