Ahadu Bank joins the Ethiopian Commodity Exchange Esubalew D April 7, 2023

Ahadu Bank joins the Ethiopian Commodity Exchange

Ahadu Bank joins the Ethiopian Commodity Exchange (ECX) payment system as the 21st member. The Bank signed a memorandum of understanding focused on the payment and transaction entity for the exchange between Ahadu Bank & ECX.

The agreement allows traders to receive money as soon as they sell their products on the ECX floor through the banks.

Ahadu Bank A/ CEO Ato Sefialem Liben said; this agreement is one of the most important events that will enable the bank to work extensively in international business and contribute gaining foreign currency to the development of our bank and our country. According to the A/CEO, Ahadu mobilized a one billion Birr deposit and broadens its customer base above One Hundred Thousand within seven-month of operation through its 51 branches.

On behalf of ECX, Wendmagegn said that the partnership could diversify the alternative and increase the efficiency of the transactions. According to the CEO, they are prepared to kick off the customized forward trade and warehouse quality inspection service.

Ato Wendmagegn Negera on their speech appreciates Ahadu Bank’s desire and initiative to do its part to ensure a safe payment system and healthy money circulation in modern transactions. In addition the partnership could diversify the alternative and increase the efficiency of the transactions and also they are prepared to kick off the customized forward trade and warehouse quality inspection service. Finally, the Celebration program ended via visited the general activities and activities of the Ethiopian product market by senior management of Ahadu Bank