Commercial Bank launches first external digital money wallet

17 Mwezi wa kwanza, 2026

Imeripotiwa na AI

Commercial Bank has launched its first external digital money wallet service. This new offering marks a step forward in Ethiopia's banking sector.

Commercial Bank, one of Ethiopia's major banks, has introduced its inaugural external digital money wallet service. This launch represents the first foundational step in expanding digital financial services within the country.

The exact date of the Addis Fortune announcement is not specified in available sources. However, this initiative signals a shift toward digital adoption in Ethiopia's banking industry. Commercial Bank is recognized as a leading institution in promoting such innovations.

The external digital wallet is expected to simplify financial transactions, though additional details are absent from the sources.

Makala yanayohusiana

National Bank of Ethiopia restricts digital payments in various apps temporarily

Ethiopia's National Bank has temporarily restricted digital payment services in applications without its license, including cryptocurrencies. This measure, based on compliance inspections, aims to safeguard financial security. The bank advises individuals to rely on verified information for transactions.

Central bank drafts strategy to cut digital payment costs

12 Mwezi wa kumi na mbili, 2025 Imeripotiwa na AI

Ethiopia's Central Bank has unveiled a draft strategy to boost digital payments by mandating fee transparency and reducing charges for small transactions. Officials attribute persistent cash reliance to hidden costs, despite growing digital account adoption. The move aims to make digital options more accessible for millions.

Afrika

Small banks grab the wheel of forex crawl

Afrika

Awash Bank achieves strong performance in challenging economic times

Afrika

Siinqee Bank enters investment banking arena with record capital

ByBit to launch fiat banking services next month

Cryptocurrency exchange ByBit is set to expand into traditional banking by introducing accounts for holding fiat currencies. CEO Ben Zhou announced plans for 'MyBank' accounts that will support transfers in 18 currencies and integrate seamlessly with crypto trading. The service is expected to launch next month, pending regulatory approvals.

National Bank of Ethiopia announces major forex liberalizations

11 Mwezi wa pili, 2026 Imeripotiwa na AI

The National Bank of Ethiopia announced key foreign exchange liberalizations on February 11, 2026, to enhance the market's efficiency and transparency. These measures build on macroeconomic reforms and draw from IMF policy advice. Notably, service exporters can now retain 100 percent of proceeds indefinitely, and bureau limits have been raised.

Afrika