Mobile payments and financial services company Paga Group has partnered with the Bank of Abyssinia, amid regulatory approval from the National Bank of Ethiopia to launch its online payment gateway in the country.
Paga’s partnership with the Bank of Abyssinia is both a milestone and a core, strategic development in Paga’s growth strategy.
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.
“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.” Adam Abate, CEO of Paga Group Ethiopia, said.
“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 stands 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:
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. Paga will leverage its experience and international partnerships to deliver world-class online payment services.