A significant uptick in digital financial transactions is markedly fueling Ethiopia’s economic progress. Over 800 billion Birr has been transacted via platforms like Telebirr and CBEbirr in just the last nine months, according to an announcement from the Ministry of Innovation and Technology (MInT).
During the presentation of the third quarterly report from the ministry, Minister Belete Molla (PhD) stated that this increase underscores the effectiveness of the current digital transformation efforts, thereby decreasing reliance on expensive traditional paper money production.
He highlighted that the primary objectives propelling this advancement include increasing digitalization efforts, developing infrastructure, implementing cutting-edge systems, and fostering technological entrepreneurship and innovation.
He emphasized the joint initiatives involving the government, private sector, and international collaborators.
The Minister further outlined notable progress in infrastructure advancement, led byEthio Telecom and Safaricom Ethiopia. Higher levels of internet access along with increased use of mobile phones are significantly supporting the growth of the digital economy.
Furthermore, the country’s digital identification initiative has been advancing steadily, with more than 14 million Ethiopians enrolled to date, as stated by Belete.
Moreover, human resources development, which forms the bedrock of the digital economy, is yielding favorable outcomes. Under the Five Million Ethiopian Coders program, more than 688,000 Ethiopians have enrolled, and around 270,000 individuals have attained internationally recognized certificates.
Although the initiative strives to enroll between five and seven million Ethiopians over a span of three years, he admitted that significant efforts still lie ahead.
The ministry is likewise vigorously encouraging tech start-ups and entrepreneurial ventures via numerous initiatives and technology-sharing programs. To enhance these endeavors even more, they are developing fresh policy adjustments and strategic revisions.
Provided by SyndiGate Media Inc.
).
