- The National Bank of Ethiopia (NBE) has formally integrated into the Pan-African Payment and Settlement System (PAPSS).
- NBE Governor H.E. Dr. Eyob Tekalign and PAPSS CEO Mike Ogbalu III announced that Addis Ababa will host PAPSS COWRY 2026.
- Ethiopian importers and exporters will gain the capability to clear trade in Ethiopian Birr (ETB) and native African currencies without third-party global FX reliance.
- Domestic aggregators—including Chapa, Telebirr, CBE Birr, and Arifpay—are expanding infrastructure to meet cross-border demand.
ADDIS ABABA — In a significant development for East Africa’s economic sector, the National Bank of Ethiopia (NBE) has officially joined the Pan-African Payment and Settlement System (PAPSS) network. The milestone agreement, formally announced by NBE Governor H.E. Dr. Eyob Tekalign alongside PAPSS Chief Executive Officer Mike Ogbalu III, integrates Ethiopia into a digital payment architecture covering over 15 African central banks and 150 commercial financial institutions.
Local Currency Settlement & Foreign Exchange Reforms
Historically, intra-African trade involving Ethiopian firms required routing settlement through overseas correspondent banking chains in North America or Europe, converting native currencies into US Dollars or Euros before completing execution. PAPSS bypasses this traditional bottleneck by establishing instant clearing in local national currencies.
Under the new framework, Ethiopian businesses can purchase goods from regional partners directly in Ethiopian Birr (ETB), while counterparty merchants across Africa receive payment in their respective local currencies. The structure drastically cuts transaction fees, shortens cross-border settlement windows, and reduces strain on Ethiopia's foreign exchange liquidity reserves.
Hosting PAPSS COWRY 2026 in Addis Ababa
Coinciding with the accession announcement, NBE and PAPSS revealed that the 2nd Edition of PAPSS COWRY (Africa’s flagship payments conference) will convene on 26–27 November 2026 at the Ethiopian Skylight Hotel in Addis Ababa.
Operating under the official theme "Scaling Africa's Sovereign Payments: From Continental Connectivity to Global Integration," the summit is set to bring together over 1,000 delegates, 60 featured policy speakers, and 35 financial technology exhibitors. The forum will focus on interoperability, AI-driven fraud mitigation, and alignment with the African Continental Free Trade Area (AfCFTA) framework.
Analysis of Ethiopia's Domestic Payment Gateways
Use the interactive search table below to evaluate and compare domestic payment processors, central bank clearing networks, and emerging remittance options operating across Ethiopia:
| Platform | Category | Primary Currencies | Settlement |
|---|---|---|---|
| PAPSS Network | Cross-Border | ETB, African Local Currencies | Instant / T+0 |
| Chapa | Aggregator | ETB, USD, International Cards | T+1 |
| Telebirr | Domestic Wallet | ETB | Instant |
| CBE Birr | Domestic Wallet | ETB | Instant |
| Arifpay | Aggregator | ETB | T+1 |
As commercial banks complete technical API integration into the national switch network, local businesses across Ethiopia will be positioned to leverage digital payment gateways for domestic and continental commerce.