In a significant step toward enhancing the country’s digital financial infrastructure, the Commercial Bank of Ethiopia (CBE) has officially launched a MasterCard payment system in collaboration with the global payments giant, MasterCard.
According to the bank, the newly introduced system is expected to play a pivotal role in advancing digital payment services across Ethiopia. It will provide CBE customers with broader access to secure, convenient, and globally recognized electronic payment solutions, including international transactions—an area that has traditionally been limited in the Ethiopian banking landscape.
Speaking at the launch event, CBE President Abe Sano emphasized the importance of this partnership in modernizing the bank’s service offerings and aligning them with international standards. He highlighted that the integration of MasterCard’s technology will facilitate seamless transactions for both domestic and international users, ultimately supporting Ethiopia’s transition toward a cashless economy.
Mark Elliot, President of MasterCard Africa, echoed this sentiment, noting that the collaboration reflects MasterCard’s ongoing commitment to financial inclusion in Africa. He added that the company is proud to support Ethiopia’s growing demand for modern, secure payment infrastructure.
This isn’t the first collaboration between CBE and MasterCard. The two institutions have worked together in the past on various initiatives within the financial sector. However, this new launch marks a milestone in deepening their relationship and expanding CBE’s capabilities in digital banking.
The launch event was jointly presided over by Abe Sano and Mark Elliot, symbolizing the strength of this partnership and their shared vision for a digitally empowered financial ecosystem in Ethiopia.
