Tsedey Bank and Eagle Lion System Technology Group have signed a joint venture agreement aimed at modernizing the distribution of agricultural inputs through digital technology.

The agreement was signed on August 18, 2018, at Tsedey Bank’s headquarters, marking a new collaboration focused on improving efficiency, transparency, and accountability in the agricultural input distribution system.

Tsedey Bank President Dr. Yohannes Ayalew described the agreement as one of the bank’s major reform initiatives. He said the project is expected to modernize the distribution of agricultural inputs and address challenges faced by farmers, institutions, and other stakeholders.

Dr. Yohannes further emphasized that the digital system could help ensure that payments are processed transparently while improving the efficient use and tracking of resources.

At the center of the initiative is Get Fee, Eagle Lion’s digital payment and transaction system, which is expected to facilitate the distribution of agricultural inputs while reducing waste and strengthening accountability.

Eagle Lion System Technology Group CEO Ato Besufekad Getachew said the Get Fee platform has the capacity to process large volumes of transactions in an organized manner. He noted that the system can streamline transactions between farmers and relevant institutions while reducing the risks associated with cash-based payments.

Besufekad also expressed his organization’s readiness to work with Tsedey Bank on the initiative and implement the agreement within a short period.

The partnership comes as Tsedey Bank, which has a strong presence in rural communities and more than three decades of experience, seeks to expand its role in supporting the modernization and development of Ethiopia’s agricultural sector.

The joint venture is expected to contribute to a more digital, transparent, and accountable agricultural input distribution system.