Ethiopian Fuel Trading Expands to All Banks

Petroleum and Energy Authority announced a major shift in fuel trading, opening it up to all banks in the country. This move comes in response to customer and bank complaints regarding limited payment options.

Previously, fuel purchases were only facilitated through the Commercial Bank of Ethiopia, Oromia Cooperative Bank, and Tele Birr. The new system will leverage digital payment options, allowing customers to choose their preferred payment method at any bank.

Customers will have more convenience and flexibility when purchasing fuel. Additionally, the new system will allow for centralized monitoring of fuel transaction reports, enhancing transparency and efficiency.
While a specific launch date hasn’t been announced, the authority confirmed that a draft is being finalized and the system will be implemented soon.

Source: Fana BC

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