Hibret Bank Teams Up with MasterCard to Boost Card Banking Services

Hibret Bank has secured a major partnership with MasterCard to enhance its card banking services, following the signing of a memorandum of understanding. The agreement is set to provide consulting and financial support to the bank, in line with the global standards set by MasterCard.

Tsigereda Tesfaye, Acting CEO of Hibret Bank, emphasized the importance of adapting to global banking practices to stay competitive within the evolving Ethiopian financial sector. She highlighted that such strategic partnerships are crucial in driving greater efficiency and ensuring long-term success. 

MasterCard’s Africa President, Mark Elliott, voiced strong support for the initiative, noting that the partnership reflects the growing interest in electronic payment services within Ethiopia. Elliott also assured that MasterCard will continue to assist local financial institutions, reinforcing their capacity to provide modern, secure payment solutions to Ethiopian customers.