Ethiopia’s FinTech Ecosystem Grows

Ethiopia’s FinTech ecosystem is still quite small-scale, the government’s supportive reforms towards promoting a digital economy and favorable market conditions have led to growth in the sector.

Arifpay Financial Technologies S.C. is a financial institution licensed by the National Bank of Ethiopia providing digital payment solutions, ArifPOS and ArifGateway.

Arifpay is Ethiopia’s first Point of Sale (POS) Payment System Operator (PSO) with payment solutions for smartphones, POS and QR payment terminals. Arifpay also holds a license to provide payment gateway solutions including utility bills, airtime top-up eCommerce, school fee processing etc.

Arifpay offers innovative, secure and easy-to-implement digital payment solutions for MSME merchants, banks and customers, working through commercial partners.

BelCash International was officially founded in 2010 in the Netherlands. In 2011 BelCash decided to establish itself in Ethiopia, 2nd largest market African market, with 115 million people. Although the Ethiopian Bank sector is still at an early stage, BelCash has successfully deployed its digital banking platform in 4 major banks and 2 microfinances.

Chapa Financial Technologies S.C is an online payment gateway that empowers small businesses and large merchants to accept local or international payments from their customers via our APIs and Chapa’s platform.

Kifiya is a technology and services company developing scalable and secure technology platforms. It is a digital finance and payment services provider that leverages innovative technology to build and enable distribution channels that make financial and non-financial services affordable and accessible.

Telebirr is a mobile money service developed and launched by Ethio telecom, the state-owned telecommunication and Internet service provider in Ethiopia. It took five months to develop the end-to-end service. It facilitates the delivery of cashless transactions.

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