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The National Bank of Ethiopia (NBE) has increased the minimum capital requirements for microfinance firms (MFIs) by over seven folds as of January 16, 2023. This came as no surprise to existing Microfinance institutions or those under establishment, as the Bank has indicated a capital requirement increase is imminent.
The lack of adequate skills in Ethiopia limits the adoption of digital initiatives in different sectors, preventing communities from accessing financial services and reaping the benefit of other private and government provisions.
The last few years have witnessed the rise of a seminal phenomenon in the Ethiopian financial sector that goes back more than a century – digital lending. Although digital credit has immense potential in serving the underfinanced Ethiopian population, there is no lack of impediments holding that potential back. Among the hurdles are the ...
Earlier this week the Parliament’s standing committee for budget, plan and finance convened with central bank regulators and members of the private sector to deliberate on the amendment of the payment systems proclamation.
It is a daunting challenge in Ethiopia, where the Kebele ID remains the most used form of identification. The Kebele ID is registered locally without a digital database in many parts of the country. Even though it has high coverage and provides citizens with an official means of authentication, it has many weaknesses that need to be ...