Home / New mobile money schemes extend banking reach in Ethiopia after NBE issues new guidelines

By EFOÉ KOUDADJEY AND JOHN OWENS

Mobile banking image in Ethiopia from PCTech magazine 

After AFI member institution National Bank of Ethiopia (NBE) finalized their guidelines on mobile and agent banking they continued to support the sector by encouraging the use of digital financial services by conducting a workshop in December 2014 entitled “How to Operationalize Digital Financial Service: Mobile and Agent Banking within the Ethiopian Context.”

The workshop brought together policymakers, financial institutions, government stakeholders and development partners to establish a shared understanding among stakeholders driving financial inclusion in Ethiopia. Moreover, the workshop was facilitated by international experts drawn from different parts of the world having specific subject matter expertise in demand, distribution, technology and regulatory aspect of digital financial services.

Around the same time, several Ethiopian banks and microfinance institutions launched mobile enabled e-money services in 2014, which are predicted to rapidly bring financial services to millions of Ethiopians in the next few years.

For the full article see New Mobile Money Schemes Extend Banking Reach in Ethiopia after NBE Issues New Guidelines