With those and other enabling factors in place, could Ethiopia be Africa’s next big fintech giant? Those telcos will play a critical role in establishing an Ethiopian fintech ecosystem too. One of the key avenues it’s identified for doing so is by scaling digital payments through mobile money services. GSMA figures show that just 4.2% of adult women and 5.1% of adult men had mobile money accounts in 2022. As more and more of those solutions fall into place, Ethiopia will be well on its way to unlocking its potential and becoming Africa’s next fintech giant.
