Ethiopia's Payment Strategy, System Enable It to Take Advantage of AfCFTA Market, Says SG Mene

Addis Ababa, December 9, 2025 (ENA) – The launch of Ethiopia’s National Digital Payments Strategy and the Instant Payment System (IPS) will accelerate the ability of Ethiopia to take advantage of the AfCFTA market of 1.4 billion people with a combined GDP of 3.4 trillion US dollars, according to African Continental Free Trade Area (AfCFTA) Secretary-General (SG) Wamkele Mene.

Ethiopia's National Digital Payment Strategy (NDPS 2026–2030) and the Instant Payment System (IPS),  EthioPay, were launched today.

The National Digital Payment Strategy 2030, which charts a five-year road map for inter-operability, trust, and innovation in Ethiopia’s digital finance landscape, was launched at the Second Ethiopia Digital Payment Conference underway in Addis Ababa.

The strategy aims at enabling low-value outbound cross-border transfers via cards, mobile wallets, and digital banking, it was learned.

 

 

Besides, it aims to expand digital payment adoption, upgrade financial infrastructure, and reduce barriers for underserved groups.

On the other hand, the launch of the Instant Payment System (IPS), EthioPay, is expected to provide a secure and inter-operable infrastructure for person-to-person transfers, QR payments, bulk payments, and cross-border transactions, forming the backbone of Ethiopia’s digital payment ecosystem.

Speaking at the unveiling of the NDPS 2026–2030 and the IPS, AfCFTA Secretary-General  Mene emphasized the importance of the initiatives for facilitating trade across the continent.

The launch of the strategy and the payment system will accelerate Ethiopia’s ability to take advantage of the AfCFTA, he added.

The initiative has the potential to significantly enhance Ethiopia's ability to harness the opportunities presented by the African Continental Free Trade Area, which serves a market of 1.4 billion people with a combined GDP of 3.4 trillion USD, Mene underlined.

Moreover, the new digital payment system would foster digital and financial inclusion, including informal traders, small-holder farmers, and SMEs, especially those led by young people and women, he elaborated.

According to him, the high costs associated with currency convertibility in Africa are over 5 billion USD annually; and these hamper competitiveness and job creation across the continent.

"There should be no reason for Africa to rely on third currencies for intra-African trade," he underlined, reiterating the need for payment sovereignty.

Reflecting on historical ambitions, the Secretary-General referenced the vision articulated by African leaders in May 1963 for a single currency and payment system.

In this regard, he noted that the launch of the new digital payment system and the strategy are not only a step forward for the nation but a significant move towards a fully integrated digital market for Africa.

It resonates with the vision of the African Union and advances our long-standing ambition for a unified payments platform, Mene stressed.

“What we have achieved today is not just a milestone for Ethiopia, it is a significant step toward a truly integrated, single digital market for the continent,” he concluded.