Regulatory Alerts2020-01-01
Added · Updated
National Digital Payments Strategy 2021–2024
The National Bank of Ethiopia implements the National Digital Payments Strategy (NDPS) for 2021–2024 to transform the payment ecosystem into a secure, competitive, and financially inclusive environment. The strategy mandates four strategic pillars: developing reliable and interoperable infrastructure, championing digital payment adoption, building a robust regulatory framework, and creating an enabling environment for innovation. Specific actions include expanding ATM and POS access points, establishing real-time payments, digitizing government and social protection payments, and implementing cash-handling fees and transaction limits to incentivize digital usage. The plan also requires strengthening regulatory oversight through new Know Your Customer clauses, enhancing cybersecurity, and clarifying roles for Fintechs and non-bank financial institutions.