Ethiopia transacts close to 300 bln Birr through Fintechs annually.

Ethiopia is transacting close to 300 billion Birr through financial technologies (fintechs), which is estimated to be 10% of the Gross Domestic Product (GDP), according to a fintech expert.
As the fintech coverage increases in the long run the share of its contribution to nation’s economy would be likely to increase, said Yilikal Abate, a fintech expert.
He presented survey findings focusing on “The Advantages of Fintech to the National Economy” on Thursday at Hilton Hotel. The event was organized by Addis Abeba Chamber of Commerce and Sectoral Associations (ACCSSA).

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