Why it matters: This will allow Ethiopians to use Fayda as their bank ID to carry out KYC checks and complete remote onboarding. Last month, Madras Security Printers Private Limited was contracted by the Ethiopian government to produce one million cards for the country’s digital ID project with a $300,000 bid. For context, Ethiopia has an estimated population of 120.3 million, and only about 3.4 million Ethiopians have registered for the national digital ID, so far. Ethiopia joins Nigeria, Ghana, Uganda, and other African countries that are transitioning to digital identification systems. Only early-stage startups in Ghana, Nigeria, Senegal, Kenya, and South Africa, are eligible to apply for the $50,000 in equity prize.

Source: Ethiopian News September 11, 2023 12:21 UTC