Heads of the country's nascent sovereign wealth fund are partnering with the
Sources disclosed the progress of the partnership was a topic during discussions between the management of
The role of De Villepin in Ethiopian officials' quest for domestic security printing, is not confirmed. The venture's success would mean the Ethiopian government would no longer depend on European firms such as the German Giesecke+Devrient or the English De La Rue for currency printing.
During the meeting at NBE's headquarter, Meleket Sahlu, deputy CEO of
The partnership is divided into three phases: the first involves the printing of e-passports, followed by currency printing in the second. The ambitious third phase encompasses the printing of various tradable securities, intended to bolster the stock market officials plan to introduce in the near future.
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The three comprise Toppan Gravity Ethiopia (TGE), which will hold a 51 percent stake in the security printing endeavor. Three other Ethiopian institutions will hold the remaining shares.
Berhanena Selam is one of 26 state-owned enterprises under the
TGE will reportedly shell out a
The Ethiopian Immigration and Citizenship Service has signed a separate agreement with
Officials hope to see the partnership introduce advanced security features to the Ethiopian passport system, which has come under much strain and scrutiny in recent years.
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