A mobile application is to be used to carry out fuel transactions.
An agreement was signed today, August 12, 2014, between the Commercial Bank of Ethiopia and Egline System Technology for the use of a mobile application that enables fuel transactions.
Named ‘Nedaj’ (‘Fuel’), the app is believed to help digitize our country’s fuel marketing system.
The Digital Banking Vice President Dahlak Yigelzen, who signed the agreement on behalf of the Commercial Bank of Ethiopia, said that the bank is implementing information technology projects to modernize our country’s payment system and bring it to the level of the world.
Mr. Dahlak said that in connection with the bank’s efforts, it has been possible to upgrade the mobile application, which is of great importance to vehicle owners, gas stations and fuel regulatory bodies, by modernizing our country’s fuel marketing.
Mr. Dahlak stated that the application will enable the establishment of a simple, convenient and fast payment system for all parties by avoiding cash transactions.
Mr. Dahlak said that the bank is doing its part to encourage indigenous technological institutions.
The founder and manager of Eagleline System Technology, Mr. Eralafekad Getachew, said that in our country, more than 11.2 million liters of fuel are sold per day, and more than half a billion birr are paid.
Mr. Bersulise said that the application allows fuel trading to be carried out in a modern way. Gas stations, individuals and organizations that own motorcycles to heavy vehicles can use the application.
Vehicle owners and gas stations can use the service by installing the application called ‘Nedaj’ (Fuel) on their mobile phones and linking it to the mobile banking service of the Commercial Bank of Ethiopia.