Ethiopian government approves mobile money
Ethiopia will join the growing list of developing economies embracing mobile money as a way to address the needs of the unbanked. According to a post on IT News Africa, the Ethiopian government has given its approval for banks and micro-finance institutions to provide mobile money services.
"Clients of banks and MFIs will be able to make deposits and withdrawals through their mobile phones," said an Ethiopian government directive quoted in the post. "They can also make payments to businesses or transfer money to clients using their mobile phones."
Ethiopia is the second-largest nation in Africa, with 91 million people.
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