Accounting and Auditing

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Browsing Accounting and Auditing by Subject "Access to Financial services"

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    Creating a Cash Less Society in Ethiopia, an Illusion or a Dream Coming True in the Near Future “the Case in Commercial Bank of Ethiopia Addis Ababa Branches
    (Addis Ababa University, 2018-02) Yohannes, Fiseha; G/medhin, G/Hiwot (Ato)
    Cashless types of payments are rising much more rapidly in the developing markets. As a developing country, our country’s case is similar with others. As our country tries to head to cashless society, the part that the government plays has a dominant role. As a state owned bank, the Ethiopian government’s need to largely create users of electronic payment mechanisms is foremost inflicted in the CBE. Taking this into consideration, CBE has set an E payment vision of creating a cashless society that mostly uses electronic payment solutions by the year 2025. This being said, the researcher’s main intent here is assessing if creating the needed cashless society is possibility within the time frame that the bank has set. In addition, the researcher also assessed if conditions that help for the creation of cashless society have been satisfied. In trying to get an answer to these questions, the researcher has first tried to see our country’s path towards the usage of cashless payment solutions and the current status of their usage in comparison with African and close to cashless society countries. Ultimately, the researcher has tried to get an answer whether the conditions enabling the creation of cashless society like regulatory conditions, Cultural issues, technology and infrastructure factors and ultimately security issues are satisfied. In doing so the data was gathered from both primary and secondary data sources. The results showed, not functioning and poor infrastructure is pushing the creation of cashless society farther in Ethiopia. It is recommended that new technology raises new security concerns and the security part should also be thought in addition to infrastructure. Consequently, customer’s attitude towards cashless payment solutions in rural areas should also be paid much attention.