CBE and MasterCard Joining hands for Cashless Ethiopia

Ethiopia is standing at the gate way to financial evolution by the collaboration of Commercial bank and Mastercard. Their newly signed five-year agreement between them signifies a substantial advance in the major leap forward in the journey to a cashless society . Initiated on May 2,2024 this collaboration stands as a solid affirmation of the shared dedication of both organizations to elevate card banking service throughout Ethiopia and Internationally

Visualizing a Digital Economy

The bond between CBE and MasterCard aims to modernize the banking experience for Ethiopia’s by introducing state of the art card service that meet international standards with Master cards global presence in over 210 countries, this partnership mainly made to elevate Ethiopia’s financial services to a world-class level.

Ethiopia’s ambitious ‘Digital Ethiopia 2025’ strategy is the blueprint guiding the country’s digital transformation. The partnership dovetails with this vision, building on the groundwork laid in 2022 when MasterCard Payment Gateway Services were integrated into Ethiopia’s e-services portal by the Ministry of Innovation and Technology (MINT), Mastercard, and CBE. This integration marked a historic moment, enabling digital payments for government services for the first time.

The introduction of digital payment methods through the government’s e-services portal is a game-changer. It is set to streamline how Ethiopians interact with and pay for government services, leading to a more inclusive financial environment. The benefits are manifold: reduced transaction costs, improved revenue collection, and better public service delivery.

The collaboration between CBE and Mastercard is a transformative step for Ethiopia, signaling a move towards a more efficient and inclusive financial system. As this partnership progresses, it promises to lay the foundation for a prosperous economic future for the Ethiopian people. We will keep you updated on this exciting journey as Ethiopia transitions to a cashless society.