Ethiopia: The New Payment Directive and the Future of Fintech in Ethiopia

opinion

The National Bank of Ethiopia (NBE) has issued the long-awaited directive that will regulate payment instruments issuers which includes mobile money, wallet and similar digital financial services in Ethiopia.

The new directive titled "Licensing and Authorization of Payment Instrument Issuer Directive No. ONPS/01/2020" is poised to replace the previous Mobile and agent banking directive that paved the way for the likes of M-Birr, HelloCash, CBE-Birr, Amole, and other mobile money services to flourish.

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