Ethiopia to make digital ID obligatory for banking operations

The use of Ethiopia’s national digital ID, Fayda, for all transactions with financial institutions will soon be mandatory.

According to an announcement of the joint initiative by the National Bank of Ethiopia, the country’s central bank, and the National ID Program, the plan is to get all bank customers enrolled for the digital ID in the course of the 2023/2024 financial year in a move that seeks to accelerate government’s financial inclusion ambition. Bank customers will then use …

africa announcement bank banking biometrics news civil customers digital digital id ethiopia ethiopia national id program (nidp) fayda financial financial inclusion financial institutions financial services id for all initiative institutions kyc national national id operations program transactions