EthSwitch, the national switch operator, has reported historic high earnings per share during the last fiscal year. The company's earnings per share reached an impressive 719 birr, which is double the average amount paid to shareholders by banks operating in the country.
EthSwitch, owned by commercial banks and microfinance institutions, plays a crucial role in facilitating electronic transactions and payment services across Ethiopia. Ethiopay, developed by EthSwitch, enables all banks in the country to issue and acquire payment cards, streamlining the payment infrastructure.
The company's latest audit report reveals a substantial profit of 534 million birr for the last fiscal year. This figure represents a remarkable 174 percent increase compared to the previous year's earnings.
