National Bank of Ethiopia Warns Against Illegal Money Transfer Channels, Publishes Official MTA (Money Transfer Agents) List
The National Bank of Ethiopia has issued a public notice warning Ethiopians at home and abroad to use only officially authorized Money Transfer Agents (MTAs) when sending remittances to Ethiopia, following the identification of several operators engaged in activities outside the scope of their licenses.
In a statement released on April 2, 2026, the central bank confirmed that some providers have been operating illegally or facilitating transfers through unauthorized channels, including informal hawala networks. The regulator emphasized that the use of unlicensed money transfer services is prohibited under Ethiopian law and may result in legal and financial consequences, including disruptions or loss of transferred funds.
The NBE stated that enforcement measures are being taken against unauthorized operators and individuals involved in sending or receiving funds through illegal channels. The action forms part of ongoing efforts to strengthen oversight of foreign exchange inflows and ensure remittances are processed through regulated financial institutions.
Guidance for Ethiopians Living Abroad
The directive is particularly relevant for Ethiopians in the diaspora who regularly send money to family, businesses, or investments in Ethiopia. The central bank strongly advises senders to verify that their remittance service provider is licensed before initiating any transfer.
Using authorized MTAs helps ensure:
- funds are delivered securely and without interruption
- compliance with Ethiopian financial regulations
- protection against fraud or illegal financial activity
- continued access to formal banking channels for recipients
The NBE noted that sending funds through unauthorized operators could expose both senders and recipients to account restrictions, transaction delays, or legal consequences.
Official List of Authorized Money Transfer Agents
Authorized Money Transfer Agents (MTA) Table
| No | Money Transfer Agent | Type |
|---|---|---|
| 1 | Abyssinia Remit | Digital Remittance |
| 2 | Adale Dawit Dagnachew | Remittance Service |
| 3 | AFRIEX Inc (Africa Exchange) | Digital Remittance |
| 4 | Alansari Exchange | Exchange / Cash Transfer |
| 5 | Arif Remit | Digital Remittance |
| 6 | BirrLink Remittance Inc | Digital Remittance |
| 7 | Bole Atlantic International | Remittance Service |
| 8 | Botim Money Technology LLC | Digital Wallet Remittance |
| 9 | Cash Express | Cash Transfer |
| 10 | Cash Go | Digital Remittance |
| 11 | Crisscross FX Limited | Foreign Exchange Transfer |
| 12 | Chapa Remit | Digital Payment |
| 13 | Dahabshiil | International Remittance |
| 14 | Dana Express LLC | Remittance Service |
| 15 | Destta, Inc. | Digital Remittance |
| 16 | Dubai Remit | Remittance Service |
| 17 | Ethio Dash | Digital Remittance |
| 18 | Ethio Pay (Ethio Solutions Inc) | Digital Payment |
| 19 | EzRemit | Digital Remittance |
| 20 | Fast Pay Exchange | Exchange Transfer |
| 21 | Finpay Tech Limited (UK) | Digital Remittance |
| 22 | Flexy Remit PTY LTD | Digital Remittance |
| 23 | Frank Remit | Digital Remittance |
| 24 | Global Currency | Exchange Transfer |
| 25 | Golden Money Transfer | Remittance Service |
| 26 | Lari Exchange | Exchange Transfer |
| 27 | Kacha Remit | Digital Remittance |
| 28 | Laki Remit | Digital Remittance |
| 29 | Mastercard Settlement | Card Network Transfer |
| 30 | Mama Pay | Digital Wallet |
| 31 | Minte International Corp. | Remittance Service |
| 32 | Mojo Money Transfer LLC | Digital Remittance |
| 33 | Money Exchange | Exchange Transfer |
| 34 | MoneyGram | International Remittance |
| 35 | Money Transfer | Remittance Service |
| 36 | PayPal Inc | Digital Payment |
| 37 | Red Sea Money Transfer Ltd (UK Only) | Remittance Service |
| 38 | Remitly Inc | Digital Remittance |
| 39 | Ria Financial Services | International Remittance |
| 40 | SGCPAY (AUS) Limited | Digital Payment |
| 41 | Selam Express | Remittance Service |
| 42 | Safari M-Pesa Mobile Financial Services Plc | Mobile Money Transfer |
| 43 | Shift Financial Service | Digital Remittance |
| 44 | Shop2Shop Money Transfer | Remittance Service |
| 45 | Solution Inc | Remittance Service |
| 46 | Smile Pay | Digital Payment |
| 47 | Swiss Remit | Digital Remittance |
| 48 | Terra Payment Service (UK) Limited | Payment Processing |
| 49 | Telebirr Remit | Mobile Money Transfer |
| 50 | Transfast Remittance LLC | International Remittance |
| 51 | Thunes (Transfer to Mobile Financial Service Ltd) | Payment Network |
| 52 | U Remit International | Digital Remittance |
| 53 | UPESI Money Transfer Limited | Digital Remittance |
| 54 | Visa International Service | Card Network Transfer |
| 55 | Western Union | International Remittance |
| 56 | WorldRemit Ltd | Digital Remittance |
| 57 | Worldwide Cash Express | Cash Transfer |
| 58 | Xpress Money Transfer | International Remittance |
| 59 | Yaya Wallet | Digital Wallet Transfer |
| 60 | Zenji Exchange | Exchange Transfer |
Users can also check and consult the official registry here: nbe.gov.et/mta
The NBE reiterated that using approved providers is the only way to ensure remittances are processed safely and within Ethiopia’s legal financial framework.
The directive comes as Ethiopia continues efforts to formalize remittance inflows, strengthen foreign exchange management, and combat illicit financial activity.