Digital Payments
Abyssinia Bank and Visa have signed a five-year strategic partnership to facilitate digital payments in Ethiopia. The agreement aims to enhance financial inclusion and secure electronic payment accessibility. Both institutions will collaborate to expand digital payment solutions key to the country's development.
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Octane, a digital payments platform, has launched O-Tolls in partnership with the National Company for Roads Building and Development, becoming Egypt's first to offer digital payments for toll gates and truck weighing for vehicles. The service uses Near Field Communication (NFC) technology to streamline operations across more than 500 toll gates and weighing stations. It aims to boost operational efficiency and cut costs for logistics firms.
In Addis Ababa's popular restaurants and shops, businesses often direct customers to pay via personal mobile accounts, evading taxes and leaving no official record. This practice, highlighted in a recent analysis, undermines government revenue and burdens compliant taxpayers. Authorities face calls for stricter enforcement and simplified compliance measures.