Abay Bank, in partnership with Visa Inc., a global leader in digital payments, has officially introduced the Abay Classic International Pre-Paid Visa Card, a service designed to empower customers, to make secure global payments without the need to carry cash. The vibrant launch ceremony, held at Abay Bank Headquarters in Addis Ababa, was graced by
United Capital, a leading pan-African investment banking and financial services group, has achieved a major milestone in its continental expansion strategy with the successful acquisition of investment banking licences in Ethiopia and Rwanda. With these approvals, United Capital becomes the first foreign institution licensed to provide investment banking services in Ethiopia, covering financial advisory services,
Ethiopia’s National Bank of Ethiopia (NBE) has announced a new regulatory measure requiring commercial banks to apply indicative prices set by the Ethiopian Customs Commission when processing foreign exchange transactions related to selected imported goods. According to a statement issued by the central bank, the move is aimed at improving consistency, transparency, and data integrity
The launch marks a broader push for payments modernization across East Africa SanuPay, a rising card technology firm in East Africa, is partnering with OpenWay, a global provider of digital payment software, to introduce Ethiopia’s first domestic credit card. This rollout will signal a significant step in the country’s shift toward formalised, digital financial infrastructure. Together with
BPC, a global leader in payment solutions, today launched its latest white paper, ISO 20022 Migration 101: Steps and Strategies for Banks. The white paper provides a comprehensive guide to navigating one of the most critical transitions in the global financial ecosystem: the shift to ISO 20022 messaging standards. With the deadline for mandatory global
By: Pierre Aurel, Chief Product Officer, Stanchion Payments Solution. Originally published here. The number of virtual cards issued worldwide is growing at an unprecedented pace. According to Juniper Research, global virtual card issuance is expected to grow at over 30% annually between 2023 and 2028, driven by relentless consumer demand for seamless, secure and convenient
Originally published here. Stanchion Payment Solutions, a leading global PayTech solutions provider, identified significant opportunities for development and growth in Ethiopia’s fast-evolving payments landscape during a recent follow-up market visit to the country led by Chief Growth Officer Norman Frankel. The visit highlighted Ethiopia’s ambitious digitalisation agenda amidst significant economic reforms, including currency devaluation and
Norman Frankel, Chief Growth Officer, Stanchion Payments Solutions. Originally published here. Ethiopia’s capital, Addis Ababa, is home to over 5.7 million people and buzzes with vibrant energy. The government is also driving its digitalisation programme forward as part of its 2025 and 2030 digitalisation plans. With a population of at least 132 million, Ethiopia is
Tranglo, a Cross-border payment hub, has expanded its services in Africa. Tranglo now facilitates payments in Ethiopia, Kenya, Liberia, Madagascar, Mali, Senegal, and Zambia. Remittances are crucial for African households and businesses. Tranglo offers efficient and cost-effective solutions to address high remittance fees. The World Bank estimates that remittances to Sub-Saharan Africa reached US$ 54
Safaricom has expanded M-PESA Kenya’s International Money Transfer (IMT) service to Ethiopia, enabling customers to send money from Kenya to Ethiopia via M-PESA Global. Through this expansion, the two companies aim to increase mobile money use and penetration across Ethiopia, boosting local economies and creating opportunities for individuals and businesses across the region. Safaricom Kenya’s
