Central Bank Awards Second Payment Operator License


Central Bank Awards Second Payment Operator License

The National Bank of Ethiopia (NBE) has awarded Sunpay, a fintech firm, a payment operator license. The firm can now embark on its operations as a Point of Sale (POS) and payment gateway operator. Part of the Sunshine Investment Group, best known for its flagship construction company, Sunpay was incorporated last year with 100 million Br in initial capital. The figure is considerably higher than the central bank's minimum threshold of 10 million Br in paid-up capital for POS operators and three million Birr for gateway operators. Two weeks ago, the central bank had issued the first payment operator license to ArifPay. The state-owned Ethio telecom became the first non-financial institution to win a payment instrument issuer license from the central bank last year for its Telebirr mobile money platform.

[ssba-buttons]

Radar

Ethiopia Unveils Consortium to Insure Millions of Farmers

Ethiopia has launched its Agricultural Insurance Consortium (AICE), pledging to protect three million farmers by 2026. Announced on July 3, 2025, at the Hyatt Regency, the initiative is backed by Pula Advisors and five major Ethiopian insurers. AICE plans to promote climate resilience through insurance bundled with the government's input voucher system. Leveraging AI platforms like Mavuno and PIE, it plans to standardise products, lower costs, and expand coverage to over 200 woredas. With agricu...


Radar

New Coopbank Partnership Targets Youth Economic Empowerment

The Cooperative Bank of Oromia (Coopbank) has signed a strategic agreement with Melka Ethiopia to provide loan services to over 120,000 young men and women nationwide. The partnership plans to promote youth economic empowerment by expanding access to finance and creating jobs, with a strong focus on rural and underserved areas. Both institutions held joint discussions to explore ways to improve youth livelihoods and financial inclusion. By closing access gaps, the partnership is expected to help...


Radar

Ethiopian Netpreneur Program Training Kicks Off

The Ethiopian Netpreneur 2025 Training Program has officially launched its first cohort in Addis Abeba with 64 entrepreneurs beginning their first round of training. Organised by the Global Digital Talent Academy, the initiative plans to empower local business owners, startup founders, and digital sector players with global-level e-commerce skills. At the launch event, Innovation and Technology Minister Belete Mola (PhD) urged participants to leverage the opportunity to build networks and shape...