The central bank of Ethiopia, which will oversee regulatory sandboxes for fintech startups under the new law.
Ethiopia’s Central Bank bans four U.S. remittance companies over fraudulent moves
The National Bank of Ethiopia banned four money transfer companies for operating without licenses. TAAJ Money Transfer previously pleaded guilty to violating the Bank Secrecy Act after moving over $66 million without proper reporting.
Ethiopia Enacts Startup Law as Execution Becomes the True Test
Ethiopia's House of People’s Representatives passed the Startup Proclamation during an emergency session in July. The proclamation defines a startup as a tech-driven business under three years old with annual revenues below 5 million birr.
Ethiopia Mandates Interoperable QR Code Payments for All Payment Providers by December 1
Mandate for QR codes issued by payment providers in Ethiopia starting December. Introduction of a universal QR standard developed by EthSwitch.
