Ethiopia: Sunshine Investment Group to Unlock Digital Payments in Ethiopia

Addis Abeba — Sunpay solutions S.C gears up for entry to the Ethiopian Digital payment Landscape to offer a payment system with an initial capital of 100 Million Birr. The Company plans to contribute to the growth of digital payment in Ethiopia and promote financial inclusion across the country with a focus on enabling a better, seamless and secure customer experience.

Sunpay Solutions, a sister company of Sunshine Investment Group, has developed its own digital payment platform "sunpay" by well-skilled individuals from the fintech industry which is set to launch the service in July 2021. Once securing a license to become a Payment gateway and POS operator in Ethiopia, Sunpay is also working with a plan to be a switch operator in the next few months.

The General Assembly of shareholders held at Marriott International Hotel today reviewed the progress made and discussed directions and steps to be taken moving forward to make Sunpay a reality.

During a press conference following the end of the shareholders' meeting, Etsub Alemayehu, SUNPAY solutions representative, said, "we are excited about joining the growing retail payment sector and we believe it is the right time to do so in light of the Governments 10 years development plan which envisions to make the nation an African beacon of growth with the digitization of services provisions and accelerating growth in the fintech industry of the country."

"Ethiopia is striving to adopt sunpay solutions to modernize the financial system," according to Etsub, "we are excited to join the industry where sunpay solutions could address many challenges in accessing financial services."

The private sector, like Sunpay solutions, can play a paramount role in the Ethiopian economy and is accelerating the rate of fintech adoption in the financial sector, Etsub further said. SUNPAY solutions is a sister company of SUNSHINE investment Group, which is in the construction, real estate, and hotel development business. AS

AllAfrica publishes around 800 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.