A banking glitch in Ethiopia reportedly let customers withdraw unlimited funds. Now, state-owned Commercial Bank of Ethiopia (CBE) is trying to recover the $40-plus million that was withdrawn or transferred to other banks over the weekend, CNBC reported Tuesday (March 19). The glitch let customers pull more than their...
Kenyan telecom Safaricom has brought its mobile money service M-Pesa to Ethiopia. As the Financial Times (FT) reported Saturday (Aug. 26), the service went live in Africa’s second-most populous country this month, and will be promoted nationwide in September. “By the end of September we will fully launch M-Pesa here....
A consultative meeting focused on the future of Ethiopia’s mobile money market is to be held Tuesday (Feb. 21). The meeting concerns a draft directive that would replace a 2020 directive that opened the sector to non-financial players and would open the market to foreign...
Kenya has taken center stage as governments worldwide debate how to regulate social media algorithms. Specifically, all eyes are on the Kenyan High Court, where a coalition of victims of hate crime and human rights groups are suing Meta, claiming that the company’s social media...
June 14, 2024
After 30 years of barring foreigners from its banking sector, Ethiopia is reportedly considering allowing overseas banks to buy stakes in domestic lenders. A bill moving through the country’s legislature would allow overseas firms to buy stakes in domestic banks, set up subsidiaries, open branches, establish representative offices and, in some cases, take over a […]
March 19, 2024
A banking glitch in Ethiopia reportedly let customers withdraw unlimited funds. Now, state-owned Commercial Bank of Ethiopia (CBE) is trying to recover the $40-plus million that was withdrawn or transferred to other banks over...
August 27, 2023
Kenyan telecom Safaricom has brought its mobile money service M-Pesa to Ethiopia. As the Financial Times (FT) reported Saturday (Aug. 26), the service went live in Africa’s second-most populous country this month, and will be...
February 20, 2023
A consultative meeting focused on the future of Ethiopia’s mobile money market is to be held Tuesday (Feb. 21). The meeting concerns a draft directive that would replace a 2020...
