"The National Bank of Ethiopia (NBE) is considering a revision of the mobile and agent banking directive issued in January 2013. The directive, which opened the door for banks and microfinance institutions (MFI) to provide transaction-based mobile and agent banking services, was long-awaited for its ability to reach unbanked communities, according to executives who talked to Fortune at the time of the directive's launch.
The NBE, however, is now assessing whether the involvement level of foreign companies, which partner with local financial institutions by providing them with technology to launch mobile and agent banking, could be construed as an incursion into the banking business - a sector reserved only for Ethiopian nationals." Continue Reading
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