The company's fintech arm, Finserve Africa, is in talks with six Ethiopian banks to collaborate on cross-border mobile payments and e-commerce. Remittances from Ethiopians summed to $4.6 billion last year.
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Equity Group Holdings Eyes Payments and E-Commerce in Ethiopia
Equity’s had to work with an Ethiopian sponsoring bank in seeking approvals, and the talks should conclude in three to six months, he said, without giving further details. Finserve received a license to operate a mobile virtual network in 2014 and uses the infrastructure of Bharti Airtel Ltd.’s local business.
