NIB Bank has entered a major partnership with Arifpay Financial Technologies, one of Ethiopia’s top fintech firms, in a move that is expected to strengthen the country’s digital economy. The two organisations say the new alliance will deliver secure, modern, and accessible digital payment services across Ethiopia.
Announcing the deal, NIB Bank CEO Mr Henok Kebede described the partnership as part of the bank’s broader plan to become more digital and customer-focused. He said the collaboration with Arifpay will help the bank introduce faster and more reliable payment solutions to its growing customer base, while also promoting financial inclusion.
“This partnership fits naturally into our digital strategy,” Mr Henok said. “It allows us to deliver user-friendly services that empower businesses, especially small and medium-sized enterprises.”
Arifpay, led by CEO Ms Rediet Tsigeberhan, is known for offering digital tools that simplify transactions for both consumers and merchants. Speaking on the partnership, Ms Rediet said this deal will not only improve payment systems but also support Ethiopia’s economic progress.
“This goes beyond technology,” she said. “It’s about creating a more inclusive and digitally-driven economy that benefits every sector.”
The partnership will enable merchants — from small market sellers to large retailers — to accept both local and international card payments, including Visa, Mastercard, and UnionPay. This is seen as a crucial step toward attracting more international business, increasing foreign currency inflows, and supporting Ethiopia’s tourism and export sectors.
In addition, the collaboration supports the rise of e-commerce by allowing business owners to manage their operations through an integrated mobile platform. Features include real-time business analytics, payment tracking, and sales reporting — all aimed at helping entrepreneurs make smarter decisions.
By combining NIB Bank’s strong banking network and Arifpay’s innovative payment technologies, the joint platform will help more Ethiopians access formal financial services. This includes those in remote areas and informal business sectors who often struggle to participate in the formal economy.
The partners say their main goals are to:
Deepen merchant acquisition across the country
Promote the use of digital payments for local and international transactions
Boost foreign exchange inflows through card-based spending
Encourage small businesses to adopt fintech tools
Enhance transparency and accountability in business operations
NIB Bank has served Ethiopia for over 25 years and is known for its commitment to modernization. The bank already works with global payment networks such as Visa, Mastercard, and UnionPay, as well as local wallets like Kacha and Kaafi. The new alliance with Arifpay will further strengthen its position in the growing digital finance space.
Arifpay, on its part, continues to lead in developing digital payment solutions that are fast, secure, and user-friendly. The company’s systems are widely praised for bridging the financial gap between traditional banking and underserved populations.
Experts in Ethiopia’s financial sector have welcomed the partnership, saying it marks an important milestone in the country’s digital transformation. They believe the collaboration could influence other banks and fintechs to team up and bring more financial services to the grassroots.
As Ethiopia moves closer to becoming a cashless society, initiatives like this are expected to play a key role in building trust in digital systems and supporting the country’s long-term economic goals.
The project is also in line with national efforts to grow the fintech industry, reduce cash dependence, and encourage innovation in banking and commerce.
With NIB Bank and Arifpay now working together, Ethiopia may be set for a major leap in digital financial services — offering hope for entrepreneurs, job seekers, and millions of unbanked citizens across the nation.
