First local credit card launches in Ethiopia with support from Sanupay and OpenWay

Ask anyone trying to build a business or buy something on credit in Ethiopia, and they'll tell you access to formal financial tools has always been a hurdle. While mobile money platforms like Telebirr have made serious inroads, credit options have remained mostly out of reach.

But that’s beginning to change as Ethiopia officially launches its first domestically issued credit card, adding a crucial layer to the country's growing digital finance landscape. This allows local banks to issue credit cards linked directly to local currency accounts, making it easier for customers to access credit and complete digital transactions.

The new system also enables full interoperability between banks, automated teller machines, and point-of-sale systems, building a more connected and user-friendly payment network.

The rollout is being led by SanuPay, a payment processor licensed and headquartered in the UAE. It is partnering with Belgian OpenWay’s Way4 platform, which powers everything from card issuance and transaction switching to mobile wallets and acquiring.

Safaricom launches M-Pesa in Ethiopia to challenge state-owned platform

Safaricom, the leading East African telco, has obtained a payment instrument issuer license – at a fee of $150 million – from the National Bank of Ethiopia, enabling it to expand its mobile money service, M-Pesa, into the country. The license puts Safaricom in direct competition with Telebirr, the state-owned mobile money

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SanuPay plans to issue four million debit and prepaid cards, along with five thousand Visa and Mastercard credit cards. It will also operate ten thousand POS (point-of-sale) terminals and two hundred ATMs across the country, which are all running on the Way4 infrastructure. Oromia Bank is expected to be the first local bank to issue the new credit cards, with more to follow soon.

Ethiopia has remained a heavily cash-based economy compared to neighboring countries like Kenya, where mobile and card payments are widespread thanks to platforms like M-PESA. But this launch marks a clear attempt to catch up, offering locally managed, secure, and accessible alternatives to international platforms.

The timing matters too. The card’s release comes as Ethiopia continues to invest in broadening financial inclusion. For the unbanked and underbanked, which is still a large portion of the population, access to credit and digital payment tools could offer a much-needed bridge into the formal economy.

With the backing of the central bank and a growing network of fintech collaborations, Ethiopia’s payment infrastructure is entering a new phase. It’s a sign of a country actively reshaping how money moves, who has access to it, and what kind of economy it wants to build.

Ethiopian fintech Chapa launches payment gateway for merchants

Chapa, an Ethiopia-based fintech has launched a payment gateway that allows businesses to receive and send money to any destinations worldwide. * The fintech startup allows businesses to create accounts to send and receive payments globally. Its API allows businesses to integrate payment options into their digital platforms. * Chapa’s one in

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