The Ethiopian Government, through the Ministry of Innovation and Technology (MInT), and Visa, the global payments technology company have signed a Memorandum of Understanding (MoU) to promote and drive digitization and support fintechs through awareness of the ”Visa Everywhere Initiative (VEI) 2021”.
H.E Dr. Ahmedin Mohammed, State Minister for Ministry of Innovation and Technology said: “The Ethiopian Government believes that Innovation and Technology play a vital role in achieving financial inclusion.
To this end, we have a robust ‘Digital Ethiopia 2025 Strategy’ that outlines the goal to pursue digitization as a key measure to make payment mechanisms widely available to the public, government, and businesses.
We are happy to collaborate with Visa to help our fintechs bring innovative new payments solutions and options to the Ethiopian population.”
Aida Diarra, Senior Vice President & Group Country Manager for Visa in Sub-Saharan Africa (SSA), said: “The partnership highlights our commitment to Ethiopia and its people. Ethiopia is steadily making strides in building an ecosystem that aids fintechs.
Through the Visa Everywhere Initiative, we seek to empower promising Ethiopian fintechs that aim to make a difference to the way Ethiopia pays.
Visa and Shega Media and Technology PLC, an Addis Ababa based digital media and data company that covers the innovation, technology, and startup ecosystem in Ethiopia, have signed a separate Memorandum of Understanding (MoU), where Shega to amplifying the Visa Everywhere Initiative (VEI 2021) to their members in Ethiopia.
Through this partnership, MINT and Visa are collaborating to explore areas of joint partnerships including training, capacity building, and digitization opportunities in the country, while Shega is amplifying the VEI 2021 to their members in Ethiopia.