The faster that Ethiopia can create a truly cashless society, the stronger its future as a digitally innovative country. This is according to Thomas Ferede, Business Development Executive at EFT Corporation, an Africa focused payment solutions provider. Ferede says that the future of banking across the continent lies in the full enablement of digital payments – including on-soil Visa and Mastercard card issuance, tokenisation, QR code payments, wallet integrations, and e-commerce capabilities.
“While Africa’s digital landscape is evolving, Ethiopia is experiencing a defining moment in its economic transformation. It is rapidly growing, highly ambitious and moving with intention toward a digital-first economy,” says Ferede. “As this growth continues, it is clear that pressure has been placed firmly on financial institutions to scale their digital offerings. It is here that market-leading technology partners play a pivotal role in supporting the country’s digital transformation efforts, while strengthening its foundational infrastructure.”
Ethiopia stands out with one of the most rapid expansions on the continent -increasingly moving beyond cash and embracing cards, wallets, QR codes and e-commerce as fundamental to its financial future. A move that makes it easier to engage in cross-border e-commerce and subscribe to international platforms like Netflix, Amazon, iTunes and Google.
