About the report

This document outlines Ethiopia’s digital payment evolution, beginning in 2011 with the Payment System Modernization Program. Key milestones include the National Switch in 2014 for bank interoperability, regulatory changes in 2019 allowing non-bank Digital Financial Service Providers, and the launch of a National Digital Payment Strategy (2021-2024). The entry of Telebirr and M-Pesa boosted accessibility. By 2023, digital accounts surpassed 102.8 million, with over 238,000 access points nationwide. Challenges like limited rural adoption and financial literacy gaps persist, but Ethiopia aims to create a cashless society to enhance financial inclusion and trust.