Paga Group has announced its partnership with the Bank of Abyssinia, and its receipt of regulatory approval from the National Bank of Ethiopia to launch its online payment gateway in Ethiopia. The partnership comes as a strategic development in Paga’s growth strategy.
“Ethiopia is on the cusp of a digital transformation. Paga has a long history working in Ethiopia, and we are very excited for this next phase of our involvement in Ethiopia, where we can provide innovative payment and financial services to the market. We are equally excited to be partnering with the Bank of Abyssinia, which has demonstrated its commitment to and capabilities in driving Ethiopia’s digital economy forward. Combined with Paga’s innovation and technology, we believe our offering will be very exciting for Ethiopian consumers and businesses” said Adam Abate, CEO of Paga Group Ethiopia.
“As one of the leading banks in Ethiopia, we always seek to work with best-in-class partners, and we have chosen such a partner in Paga. Their product innovation and commitment to financial inclusion stand out, and we are delighted to come together to empower their delivery of online payment gateway services to Ethiopian consumers.” Sosina Mengesha, Chief Digital Banking Officer of Bank of Abyssinia, said:
Established in 1996, and with close to 700 branches and over five million customers, the Bank of Abyssinia is one of Ethiopia’s leading banks. It is also a pioneer in Ethiopia of digital finance and payment solutions.
Through its online payment gateway and other capabilities, Paga will help drive the digital economy in Ethiopia by enabling sellers to pay and get paid easily online.