Addis Ababa, August 14, 2024 (FBC) – Ethiopia is working to ensure financial inclusion through building a strong digital economy, Ministry of Innovation and Technology (MInT) said.
The 15th Edition of Connected Banking Summit, organized by the International Center for Strategic Alliances held today in Addis Ababa under the theme “Bolstering the Economy with Digitization and Financial Inclusion”.
During the occasion, State Minister of Innovation and Technology, Yishrun Alemayehu said that Ethiopia has been implementing its Digital Ethiopia 2025 Strategy to accelerate the transition to digital economy.
The strategy is aimed at creating job opportunities, increasing foreign earnings, achieving sustainable development, he stated, and added that the strategy has also given due attention to Artificial Intelligence (AI).
According to him, government service rendering institutions are being digitized, especially agriculture, tourism, manufacturing and Information Technology sectors. To this end, enabling infrastructure tasks are underway, Yishrun added.
Moreover, he pointed out that the government is encouraging local and foreign private sectors to expand financial digitalization through strengthening public private partnerships. CEO of South African Fintech EFT, Clayton Hayward said on his part that Ethiopia should work on financial inclusion in order to sustain its economic development. In this regard, digital banking has paramount role, he said.