Kifiya Sets to Generate Close to 2 Billion Birr Revenue

One of the lehulu centers in Addis Ababa One of the lehulu centers in Addis Ababa

Kifiya Financial Technology PLC, the company behind the unified billing system project, is set to make close to 2 billion birr revenue in three and half years, the expected life span of the first phase of the project. The company announced on January 17 that preparation has been finalized to commence operation next month. The project is implemented by the Ministry of Communication and Information Technology (MCIT), the three utility companies: Ethiopian Electric Power Corporation, ethio telecom and Addis Ababa Water and Sewage Authority, and Kifiya Financial Technology PLC.

Kifiya/Global Computing Solutions (GCS), fully owned by Ethiopians, with more than 15 years of IT experience, is the company who championed the project; a public and private partnership initiative with the MCIT. This is the first of its kind in the country. The project will provide single window service delivery system whereby citizens can settle water, telephone and electric bills at any of the available centers.

The company has so far trained 450 staff for the project. It has also spent 102 million birr on the project, states a letter Kifiya sent to Ethiopian Business Review. When the centers start operation in February, they are expected to handle 18 million transactions per month. The company, Kifiya, will get 2.54 birr per transaction from the utility companies. This means, the company will generate over 1.92 billion birr revenue at the end of the project.

Initially, 31 lehulu centers (places where the single window service will be provided) will open in Addis Ababa, with a further 27 to become operational over the next three years, including centers in Mekelle, Bahir Dar, Hawassa and Adama. There is also a plan to transfer lehulu customers to mobile billing by 2014, according to the document distributed during the press release.

Leave a comment

Make sure you enter the (*) required information where indicated.Basic HTML code is allowed.

Latest News

Ethiopia to Host the 4th International Coffee Conference

Ethiopia to Host the 4th International Coffee Conference

Ethiopia is set to host the 4th International Coffee Conference from March 6 – 8, 2016 in Addis Ababa at the United Nations Conference Center. Previous conferences were held  in England in 2001, Brazil in 2005 and Guatemala in 2010. Read more

Most Popular

  • 1
  • 2
Prev Next

The White-Box of Ethiopian Agriculture

The agricultural sector remains our Achilles heel, nonetheless, we remain convinced that agricultural-based development remains the only source of hope ...

Read more

For Whoever Has, to Him Shall be Given …

As the Ethiopian government seeks to transform the economy into one that’s rooted in manufacturing, the simplicity for local investors to access finance...

Read more

Commentary

  • 1
  • 2
  • 3
Prev Next

Shooting in the Dark: The Anomalies of Headhunting

The war for ‘heads’ – also known as talent – has been raging for many years and the manner headhunters ‘poach’ people is getting tougher ...

Read more

Understanding Chinese Investment in Ethiopia A Critical Evaluation of the World Bank’s “Chinese FDI in Ethiopia” Survey

The World Bank country office in Ethiopia, apparently in response to the request by the government of Ethiopia, has conducted a survey of...

Read more

Mitigating Growing Income Inequality: What Needs to Be Done

Rising income and wealth inequality in many countries around the world has been a long-term trend for three decades or more. But the atte...

Read more

View Point

  • 1
  • 2
  • 3
Prev Next

Cut Throat: The Vicious Cycle of Price Based Competition in Ethiopian Insurance Industry

For most, it was imprecise how Ethiopian insurers would manage their prices devoid of actuaries. As most insurers know, premium has a more significant impact...

Read more

Delivering Life Insurance: The Untapped Market in Ethiopia

Modern insurance transaction in Ethiopia was started by an Egyptian Bank in 1905. According to Ethiopian Chamber of Commerce there were 19, 33 and 40 insuran...

Read more

Headache When a Key Personnel leaves a Company in the Financial Sector

The financial sector in Ethiopia has undergone considerable changes in recent decades. The dramatic rise of new market players into the sector has vividly al...

Read more