Ethiopia seeks to print its own banknotes

The websites allAfrica.com and addisfortune.net report that the National Bank of Ethiopia has issued a tender to, first, investigate if the country is capable to print its own banknotes and second, (if the answer is yes) to set up a national banknote printing facility.

"The Bank announced a tender two weeks ago to hire an international consultancy firm to conduct a feasibility study for the printing plant on the state owned daily newspaper, The Ethiopian Herald.

The main aim of planting the factory is to save the foreign currency that the country is spending to print banknotes in foreign countries. The other reason is to centralise the printing of banknotes in one place, according to a senior official from the Bank.

(...) Currently, NBE predominantly prints banknote in European countries, mainly in England and France. It has made an order for new banknote, as the notes that are in circulation have become worn out from use. The old notes will be collected and disposed of by burning."

Steven Wednesday 17 December 2014 at 11:51 am | | news
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