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Toronto – The Commercial Bank of Ethiopia and Visa, a credit card service corporation, on Friday reached an agreement on enhanced collaboration.
Abe Sano, president of the bank, and Chad Pollock, Visa East Africa Director signed the agreement.
According to the update from the Bank, the two parties entered into a five year agreement. Commercial Bank of Ethiopia will be getting Visa, when eligible apparently, and the employees of the bank will be getting capacity building training.
What Commercial Bank of Ethiopia is offering in return is unspecified.
Abe Sano remarked about the relevance of the agreement for CBE clients from the point of view of settling international transactions. “In accordance with the financial reform that the government introduced, the strategic agreement is crucial to settle international payments,” he said.
Chad, on his part, expressed that “He is happy.” He is cited as saying Visa collaboration with the commercial Bank of Ethiopia, is helpful for financial transactions in Ethiopia and beyond.
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