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The National Bank of Ethiopia (NBE) has awarded the
German Gieseck & Deverient and the British De La Rue
the multi million dollars contract to print various
notes of the Ethiopian Birr, sources disclosed.
NBE did float an
international tender in May 2008, inviting currency
printers to print a total of a little over 1.1
billion Br in all denominations of the Birr. Five of
the most reputed firms had responded from the six
that have bought the tender document. This included
the French Francois-Charles Oberthur Fiduciarie (FCOF),
which had won a contract three years ago to print
four billion worth of Birr notes in circulation
until recently.
It was not lucky this time around. The bid committee
of eight, chaired by Alemayehu Kebede, banking
modernization and external relations director of the
bank, has decided to award the printing of 10, 50,
and 100 denominations to Gieseck & Deverient, at a
cost of close to 50 million dollars, sources
disclosed. The remaining denominations of one and
five birr were awarded to De La Rue, which is to be
paid over 16 million dollars.
The result is expected to be made within the coming
two weeks, disclosed reliable sources.
The German Gieseck & Deverient, the Canadian Bank
Notes, the British De La Rue and the French
Francois-Charles Oberthur Fiduciarie (FCOF) are
among the bidders. The latter printed four billion
worth of Birr notes now in circulation after it won
a bid in September 2005, for offering the lowest
amount.
FCOF became
controversial immediately after it won NBE’s
contract and paid 20pc down payment, for falling
under investigation by Kenya’s Anticorruption
Commission, accused of playing a role in a lucrative
contract their government awarded for the printing
of electronically readable passports, in the final
years of Daniel arap Moi’s regime.
Nonetheless, FCOF had continued with the printing
and has delivered all the printed notes at Bole
International Airport, in four rounds. There are now
close to 10 billion Br worth of notes in
circulation, while the banking system is believed to
keep 56 billion Br worth of notes in saving and time
deposit accounts, according to sources at the
National Bank of Ethiopia (NBE).
NBE hires international
companies to print and ship these notes on an annual
basis. It was the British De La Rue that was the
favoured printer until the arrival of Dubale Jale as
governor of the central bank, in 1995. The German
Giesecke & Devrient took the job up until 2004.
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