Ethiopia’s population is largely unbanked, and the country’s economy relies heavily on cash for payment. Checks are the most used non-cash payment mechanism, yet clearing and processing are primarily manual paper-based processes.

Until recently, the retail payment infrastructure was highly fragmented and inefficient, with no interoperability between banks’ ATM and POS networks. The POS terminal network in the country is much less extensive than in other countries in sub-Saharan Africa.

80% of remittances sent through the MTO channels are picked up in cash at bank branches or agents

34% of bank branches and 50% of ATMs are in Addis Ababa where only 3 percent of the population lives

Our Portfolio Active in Payment

Kifiya’s electronic payment gateway creates opportunities for banked individuals to pay for goods and services without needing cash.