Here’s a list of remittance companies cleared to handle cross-border remittances in Ethiopia
- The National Bank of Ethiopia has licensed 88 money transfer operators.
- Global companies like Western Union and MoneyGram are operating alongside newer entrants.
- Governor Eyob Tekalign is enforcing stricter regulations against unlicensed dealers.
The increasing regulation and formalization of the remittance market in Ethiopia is a positive step towards enhancing economic stability and ensuring that more funds are funneled through legitimate channels. However, the challenge remains in reducing the dominance of informal networks, which could hinder the effectiveness of these measures.
