“Digital Transformation in the Banking sector What does collaborative banking look like?
What is the outlook for Fintech in Ethiopia?”
Ethiopia has one of the highest unbanked rates of the world, with some 65% of population still unbanked. While innovations like mobile-based financial tools promise dramatically lowered costs of delivering money services and transaction costs, borrowing and financial flows still move at a slow pace. There is a gap between the money services offered and those wanted by the majority of the population as only about 300K of the 35 Million plus account holders at banks have ever had a borrowing collection of investments. Digitalization can create new services and products that people need to better manage their holdings.
There are a number of mega trends in digital money management, from fin-tech to insure-tech to mobile-platform based payment systems. The shift in the way we interact with information and devices, the methods we use to search, spot and analyze data, and the means we use to respond to disruptions in value chains is part of the mega-trends. Participants from different areas of expertise in the sector will discuss and explore offerings such as branchless/digital banking, mobile microfinance, instant financial transactions, payment technologies, infrastructure pre-requisites, regulatory imperatives, and digital assurance products among other areas of banking in the 21st century. This panel is intended to showcase the potential and opportunities in the Digital money services space in Ethiopia, and invite participants to reflect on the strategies and tools that can enable the country to positively transform its money services sector using technology.
Opening Remarks: H.E. Dr. Ahmedin Mohammed, State Minister- Ministry of Innovation and Technology
Moderator: Adam Abate, chief executive officer- Paga Ethiopia
Panelists:
• Solomon Damtew, Principal, Payment Systems Oversight & Development – NBE
• Yilebes Addis, chief executive officer – EthSwitch
• Amare Assefa ,CIO – Commercial lender of Ethiopia
• Yemiru Chanyalew, chief executive officer – Moneta Technologies/ Amole
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