The remarkable success Ethiopia has achieved in digital payments in recent years will serve as a crucial foundation for accomplishing the nation's future economic goals, stated Dr. Eyob Tekalign, Governor of the National Bank of Ethiopia (NBE).
The Governor made the remarks during the successful conclusion of the Second Ethiopian Digital Payment Summit. The digital payment system implemented over the past five years has successfully facilitated the annual transfer of over 18.5 trillion Birr.
In his address, Dr. Eyob underscored the astounding growth recorded within the country’s digital payment sector. He highlighted that Ethiopian citizens are rapidly embracing digitalization and data transition, leading to a notable decline in the public's reliance on carrying large amounts of physical cash.
Providing a key metric of this success, Dr. Eyob revealed that the digital payment system, operationalized over the last five years, has facilitated the transfer of over 18.5 trillion Birr annually.
He emphasized that performing this scale of transaction volume in physical cash would have been completely unfeasible just a few years ago, noting the significant costs and congestion it would have created. This accomplishment, he stressed, is a direct result of focused effort on expanding necessary infrastructure.
Dr. Eyob pointed out that the achievements stem from a carefully considered, meticulously crafted, and implemented strategy, backed by the government’s commitment to transitioning public services towards digital transactions and money transfer solutions.
The Governor stressed that this impressive result must be viewed not as a point of complacency, but as a springboard for greater ambition. Looking ahead, the NBE plans to focus on several key areas:
Boosting Confidence: Enhancing trust among digital banking users and ensuring the security of the payment system.
Bridging the Gap: Working to reduce the digital and technology adoption disparities between rural and urban areas.
Fostering Innovation: Providing special focus and sufficient resources to support innovation within the sector.
Concluding his remarks, Dr. Eyob affirmed that the major results secured through dedication in recent years provide a strong basis for achieving the nation's goals in the coming period. He reiterated that Ethiopia is on the right path, having formulated the appropriate policies and strategies for building resilient digital infrastructure.
The summit itself served as a vital platform to strengthen data infrastructure and enhance awareness of digital payments and broader digital strategies. The commitment to expanding digital infrastructure is evidenced by the significant investments the government is currently undertaking.
The NBE will prioritize the crucial issue of data sovereignty as it continues its work to expand the digital payment ecosystem. Ethiopia’s digital finance and payment system is firmly set on a fast growth trajectory. It is noted that the National Digital Payment Strategy for 2026–2030 was officially launched during the opening ceremony of the summit.
