Sinopia News Top

Banking and Finance


Digital Transactions Exceed Birr 1.2 Trillion

During the last nine months of the Ethiopian Fiscal Year, FitsumEthiopia has witnessed a significant increase in digital payments, with transactions exceeding Birr 1.2 trillion, according to Fitsum Aseffa, the Minister of Planning and Development. The amount transferred through digital payment in nine months has increased by 169 percent compared to the previous fiscal year.

Add a comment Add a comment
Read more...

Safaricom M-Pesa Becomes the First Foreign Company to Secure a Mobile Money Service License in Ethiopia

M-Pesa 2

The National Bank of Ethiopia (NBE) issued a mobile money service license to Safaricom M-Pesa Mobile Financial Service PLC, a subsidiary of Safaricom Telecommunication Ethiopia PLC, making the company the first foreign investor to be granted the license in Ethiopia.

Add a comment Add a comment
Read more...


Ethiopia: Commercial Bank Launches a Remittance App in Collaboration with Golden Coffee

CBE CashGo

The Commercial Bank of Ethiopia (CBE) launched an international remittance service phone application called CashGo in collaboration with Golden Coffee Roastery PLC. The app will allow customers of CBE to remit money from countries such as Canada, Israel, America, Italy, South Africa, Sweden, UAE, England, and Saudi Arabia using their mobile phones via MasterCard and Visa Card.

Add a comment Add a comment
Read more...