ILRI is required to conduct a competitive bid process every five years for ILRI’s banking service. As the agreement with our current bank was coming to an end, a rigorous evaluation process was conducted by a bid committee which included representatives from hosted institutions, ILRI research units, finance, procurement and the head of administration. A detailed selection criteria was developed prior to the bid, and was announced to all bidders. Seven banks qualified for the bid invitation with a minimum of ten years of operation. Six banks submitted bids. Site visits were conducted for the three banks which were found responsive to the technical evaluation. The site visit included a visit and interview at the headquarters as well as a random, unannounced visit at a nearby branch by a separate sub-committee.

Nib Bank Selected to Provide Banking Services to ILRI: The bid committee determined that Nib Bank provided ILRI will the best set of services which meet ILRI’s requirements. In addition, they distinguished themselves by their responsiveness and customer-focus. Nib Bank was selected to provide in-campus banking services for the next five years. As a result Nib Bank is expected to take over the in-campus banking operation starting from the 25th of November. During the first weeks of operation, the bank will operate at limited capacity as the bank will be making initial preparations such as office renovations and furnishings. Nib’s Gurde Sholla branch, which is just outside the ILRI compound, is ready to offer all the required services until the in-campus bank is fully operational.

All Staff to Open New Bank Accounts with Nib Bank: Starting with December payroll, the monthly payroll transfer will be processed through Nib’s online banking facility. (November’s payroll will be completed through Wegagen Bank.) To facilitate payroll processing as well as travel and business advances, all staff must open an account with Nib bank. Details about how to open your new bank accounts will be forthcoming. Staff may choose to maintain their personal bank account with Wegagen Bank in addition to their Nib account which will be required for ILRI transactions. Wegagen has graciously agreed to maintain their ATM machine on the campus.

Credit Facility for Qualified Staff: Our agreement with the bank provides qualified ILRI staff with a credit facility benefit for the construction or purchase of residential buildings, purchase of automobiles, consumer loan for purchase of various consumable goods and emergency staff loan to alleviate emergency problems. However we encourage responsible borrowing by staff. Details regarding this service will be forthcoming.

ATM Access: As the bank is a member of Premier Switch Solution (PSS), together with Awash International Bank and Hibret Bank, the bank’s debit card can be used at any of these bank’s ATMs (automatic teller machines). This gives Nib debit card holders access to more than 250 ATMs. The bank will be installing an ATM on the campus.

At this time, let me express ILRI’s gratitude for the services Wegagen has provided to ILRI over the past many years. We will miss their presence on campus, including their staff whom many have grown to know well.

Details about opening accounts and credit facilities with Nib Bank will be forthcoming. We welcome Nib Bank to the ILRI campus and look forward to working with their staff.

Gail Amare | Head of Administration, Ethiopia