Ethiopia team up with Visa to boost digital economy

The Ministry of Innovation and Technology of Ethiopia has held consultations with Visa, a global leader in digital payments. The discussions focused on enhancing digital infrastructure, expanding electronic payment systems, and fostering collaboration to drive Ethiopia’s digital transformation. 

The meeting was attended by Dr. Yeshurun Alemayehu, Minister of State for Innovation and Technology, Jared Alu, Director of Visa Card in Ethiopia, and Ms. Phyllis Kamaun, Head of Visa Governance Solution for Sub-Saharan Africa. The discussions highlighted Ethiopia’s ongoing reforms in the telecom sector and its ambitious plans to build a robust digital ecosystem. 

Dr. Yeshurun Alemayehu provided an overview of Ethiopia’s digital transformation journey, emphasizing the government’s commitment to building a modern and inclusive digital economy.

“Ethiopia’s reform in the telecom sector is undergoing a breakthrough that will accelerate the country’s digitalization,” said Dr. Alemayehu. “Working closely with global partners like Visa is crucial to achieving our goals and ensuring that Ethiopia benefits from the opportunities of the digital economy.” 

Jared Alu, Director of Visa Card in Ethiopia, highlighted the company’s growing presence in the country, with over ten million Visa card users. He expressed Visa’s commitment to expanding its services and reaching more users across Ethiopia. 

“We are excited about the positive changes brought about by Ethiopia’s reforms,” said Ms. Phyllis Kamaun, Head of Visa Governance Solution for Sub-Saharan Africa. “Our discussions with the Ministry of Innovation and Technology and other stakeholders have been productive, and we look forward to supporting Ethiopia’s digital transformation journey.” 

The consultations also focused on the need to coordinate and scale up digital startups across Ethiopia. Ms. Kamaun emphasized the importance of creating a supportive ecosystem for innovation and entrepreneurship, enabling startups to grow and contribute to the digital economy. 

“It is necessary to expand the uncoordinated digital startups seen in various places and elevate them to the national and regional level,” she said. “By fostering collaboration between public and private sectors, we can create a vibrant digital ecosystem that drives economic growth and innovation.” 

As part of the collaboration, the Ethiopian government plans to organize a national workshop to identify areas of cooperation and engage all stakeholders, including financial institutions, businesses, and technology providers. The workshop will serve as a platform to develop actionable strategies and partnerships that support Ethiopia’s digital transformation agenda. 

“The government will continue to work with all stakeholders and partners to develop a national workshop that engages all relevant parties and identifies areas of cooperation,” said Dr. Alemayehu. 

By: Kanto Kai Okanta