Mobile Money Users Hit 58 Million as Digital Transactions Soar 60 Percent: PM Abiy

Addis Ababa, February 3, 2026 (FMC) — Ethiopia’s mobile money ecosystem has expanded at an unprecedented pace, with 58 million citizens now using digital wallet services, Prime Minister Abiy Ahmed told the House of People’s Representatives.

Responding to lawmakers’ questions during the session, PM Abiy highlighted that Ethiopia’s transition from a cash-based economy to a digitally driven financial system represents one of the most significant structural shifts in the country’s recent economic history.

“It has been only three years since we introduced mobile money. Today, 58 million Ethiopians are using mobile money services,” PM Abiy said, noting that prior to the reform, most financial transactions were conducted in cash.

Describing the transformation as leapfrogging in speed, the Prime Minister said the growth of mobile wallets is the result of deliberate government policy. Over the past six months alone, digital payments have surged by 60 percent, matching a similar rate of growth compared to the previous year.

The expansion of mobile financial services has also strengthened the broader financial sector. Savings increased by 15 percent, financial inclusion by 11 percent, and mobile-based lending services now reach 15 percent penetration across the country.

PM Abiy attributed the rapid uptake of mobile money to the parallel growth of telecommunications infrastructure. At the start of the reform period, only 37 million Ethiopians had mobile subscriptions. Today, more than 97 million citizens use mobile services, providing a robust foundation for the continued expansion of digital finance.