In 2020, Ethiopia allowed non-banks to provide mobile money services, a key step in advancing financial inclusion and driving growth. In this study, we look at the rapidly evolving mobile money ecosystem, and we discuss opportunities to boost adoption and usage.

We also outline the impact that mobile money can have on individuals, households, and businesses. If Ethiopia experiences high adoption, such as in Kenya, Ghana, and Uganda, we expect that mobile money could lift 700,000 people out of poverty, add $5.3 billion to Ethiopia’s GDP, increase tax revenue by $300 million and provide a cushion for the economic shocks experienced by almost 40% of households.

Leveraging interviews and focus groups with mobile money users, the report offers recommendations to all key actors engaged in the ecosystem, from service providers to policymakers and development partners, on how to drive mobile money adoption in Ethiopia.