MinT,Mastercard Sign MoU to Fast Track Development of Digital Economy in Ethiopia

Mastercard has signed a memorandum of understanding (MoU) with the Ethiopian Ministry of Innovation and Technology (MINT) to develop and implement strategic solutions and relevant policies to deliver a digitized economy in Ethiopia.

The MoU is expected to help Ethiopia optimize existing technology, digital assets and services in driving its digital transformation agenda which will directly support efforts towards financial inclusion creating safe and accessible digitized payment solutions for small businesses and implementing digital identity projects.

Raghav Prasad, Division President, Sub-Saharan Africa, Mastercard, said :

“Mastercard is committed to connecting and empowering an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Building on our long-standing partnership with the Ethiopian government, we are excited to be partnering with this innovative team to meet the goals set in the Digital Ethiopia 2025 strategy.  This partnership also supports our global commitment to bring 1 billion people and 50 million micro and small businesses into the digital economy by 2025”

Dr. Ahmedin Mohammed, State Minister for Ministry of Innovation and Technology, commented: 

“We are certain this agreement will enable micro and small merchants’ access to digital payment products so they are connected with the rest of the world and receive payment digitally. Our efforts under this cooperation will relieve Ethiopia of the cost of cash and help us formalize the shadow economy. We have an ambitious digital transformation strategy. Such cooperation with experienced and leading global companies like Mastercard will ensure we strengthen existing infrastructure, develop enabling systems and facilitate digital interactions between the government, the private sector and our citizens,”