The Ministre De’etat of Minstry of Finance, Dr. Eyob Tekalegn, said that the expanision of digital payment options in Ethiopia is contributing to the reduction of cash circulation.

He announced that up to four trillion Birr is being transferred annually in Ethiopia through digital payment options. Dr. Eyob Tekalegn’s explanation regarding the second indigenous economic reform; He pointed out that cash flow has decreased significantly in the last two months.

He pointed out that the circulation of cash has been reduced as digital payment options are being widely adopted. Dr. Eyob said that digital payment options are expanding significantly in Ethiopia. They pointed out that up to four trillion Birr is transferred annually through digital payment options.
He recalled that more than 170 government institutions have entered into the digital transaction system in accordance with the direction set by the government to carry out large-scale financial transactions digitally.

He stated that in order to achieve the goal of Ethiopia’s modern financial system, it is necessary to use digital payment options for government services and business transactions and avoid cash transfers. Nowadays, many people indicate that they are conducting their daily transactions with digital payment options without having to carry cash around.

Source: APA

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