It was in August 2014 when EthSwitch went official by selecting a payment solutions provider to power the national switching on of a system meant to modernize Ethiopia's financial industry.
In 2016, the fintech initiative went live. Ever since then, Ethiopia has been accelerating the adoption of digital payment platforms to reform its low-income economy.
EthSwitch isn't a privately-owned startup, but it's a company formed by all the banks in Ethiopia. The business is backed by the Ethiopian Bankers' Association and the National Bank of Ethiopia—the country's central bank.