INTRODUCING | Ethiopia Launches EthioPay, a National Instant Payment System

Ethiopia’s National Digital Payment Strategy (NDPS 2026–2030) and the Instant Payment System (IPS), EthioPay, were launched in December 2025, a move African Continental Free Trade Area (AfCFTA) Secretary-General, Wamkele Mene, says will accelerate the country’s ability to take advantage of the AfCFTA’s market of 1.4 billion people with a combined GDP of $3.4 trillion.

The five-year roadmap for interoperability, trust and innovation in Ethiopia’s digital finance landscape was unveiled at the Second Ethiopia Digital Payment Conference in Addis Ababa. The strategy aims to enable low-value outbound cross-border transfers via cards, mobile wallets and digital banking.

In addition, the strategy seeks to expand digital payment adoption, upgrade financial infrastructure, and reduce barriers for underserved groups.

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The launch of EthioPay (IPS) is expected to provide a secure and interoperable 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, AfCFTA SG Mene highlighted the importance of the initiative in facilitating trade across the continent and said the launch will accelerate Ethiopia’s ability to harness AfCFTA opportunities.

He noted that the new digital payment system would foster digital and financial inclusion, including for informal traders, small-holder farmers and SMEs, especially those led by young people and women.

Mene further underscored that the high costs associated with currency convertibility in Africa – more than $5 billion annually – hamper competitiveness and job creation.

“There should be no reason for Africa to rely on third currencies for intra-African trade,” he said, stressing the need for payment sovereignty.

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

‘I am Confident that One Day the African Continent will have a Single Currency,’ Says Secretary General, AfCFTA

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