The National Bank of Ethiopia has launched Phase Two of the National Digital Payments Strategy, setting out a 2025–2029 agenda to deepen the use of digital payments and further develop the national ecosystem. Priorities include achieving full interoperability, expanding integration with digital ID, and accelerating merchant acceptance, with an emphasis on small and medium enterprises, women, and rural populations. Phase One of the strategy (NDPS 2021–2024) reported increased access and usage indicators, including a rise in adults accessing formal financial services from 35% in 2017 to over 46% by the end of 2023. Mobile money accounts grew from under 1 million in 2020 to more than 128.5 million users by 31 December 2024, alongside ETB 9.7 trillion in digital transactions in the 2023/24 fiscal year, exceeding cash transactions. Implementation steps cited include interoperability frameworks and the introduction of a National Interoperable QR code in late 2024 to enable instant payments.
National Bank of Ethiopia 2025-03-28
National Bank of Ethiopia launches Phase Two of the National Digital Payments Strategy for 2025 to 2029
The National Bank of Ethiopia has launched Phase Two of the National Digital Payments Strategy for 2025–2029, focusing on enhancing digital payment usage and ecosystem development. Priorities include achieving full interoperability, integrating digital ID, and boosting merchant acceptance, especially for small and medium enterprises, women, and rural populations. Phase One saw significant growth in mobile money accounts and digital transactions, surpassing cash transactions by the end of 2024.