Ethiopia’s national payment switch operator, EthSwitch, reported strong growth in transaction volumes and financial performance during its 12th Annual Shareholders Meeting held on Tuesday at the Sheraton Addis.
The company said it processed 287.4 million interoperable transactions valued at 741.1 billion birr ($12.8 billion) over the past fiscal year, reflecting significant expansion in digital payment activities across the country.
Related articles
Person-to-person (P2P) transfers accounted for the largest share, with 128.3 million transactions worth 577.7 billion birr, a 158% increase from the previous year. Interoperable ATM transactions reached 119.3 million, totaling 156.1 billion birr, up 26% year-on-year. Point-of-sale (POS) transactions also rose 24%, hitting 2.78 million transactions valued at 7.2 billion birr.
EthSwitch reported total revenue of 2.2 billion birr and profit before tax of 1.42 billion birr, representing a 34% rise compared with the previous fiscal year.
The company, jointly owned by the National Bank of Ethiopia and commercial banks, plays a central role in the country’s digital payment infrastructure by enabling interoperability among financial institutions.
