Home Business Hibret Bank rolled out prepaid credit card

Hibret Bank rolled out prepaid credit card

Ethiopia Prepaid credit card _ Hibret Bank
Photo credit : Hibret Bank


Toronto – Hibret Bank this week rolled out a new financial product. The Bank has partnered with Mastercard and Premier Switch Solutions, for  prepaid Mastercard service in Ethiopia. It said that  the product will “play a key role in digital finance inclusion.” 

It was launched this week at the meeting Hall of Hibret Bank Headquarter in the capital Addis Ababa. 

In his speech during the launching ceremony, Melaku Kebede, CEO, said that the Bank places special attention to technology and collaborations. The launch of the prepaid Mastercard, for him, demonstrates Hibret Bank’s commitment to it. 

“This collaboration between Hibret Bank, Master Card and Premier Switch Solutions for a Prepaid Mastercard Service …is a crucial chapter in digital financial inclusion. Hiber Mobile Application and core banking system improvements that we developed not only helped further enhance our inhouse innovative capacity but also they demonstrate our determination to to realize service guarantee and  better user experience,” the CEO is cited as saying. 

Mark Elliott, Mastercard President in Africa, remarked about the partnership. He sees the collaboration for prepaid Mastercard with Hibret Bank as one that demonstrates  the effort to make economic transformation in Africa a success. “We help the effort to realize prosperous Africa by introducing such secured and convenient payment options to consumers and businesses,” he said. 

Hibret Bank, according to a news update it shared on its social media page, is one of the the three founders of Premier Switch Solutions.

Amha Tadesse, CEO of Premier Switch Solutions, said the introduction of Prepaid Mastercard is a testimony that Hibert Bank and Mastercard are determined to provide reliable service to the public. 

Hibret is one of the pioneers in Ethiopia’s private banking history. It has been in business for over 25 years now. It has more than 488 branches across the country. 


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