This document provides a summary of a presentation on digital financial services (DFS) in Ethiopia. The presentation includes: - An agenda for the dissemination of findings event on DFS in Ethiopia. - An overview of key elements needed for a DFS ecosystem, including an electronic payments system, cash-in/cash-out networks, and financial institutions adding services. - A discussion of the experience with DFS globally, including the mixed success of mobile operators and challenges for other players to be relevant without partnerships. - An assessment of Ethiopia's market readiness for DFS, including opportunities around government commitment but also weaknesses in regulations and banking/telecom infrastructure. - The large potential need and transaction volumes that could

2. Welcome to dissemination of findings:
Digital Financial Services in Ethiopia
2
Agenda:
9.00 - 9.10 Opening remarks, Nebil Kellow
9.10 - 9.20 Opening speech Financial Inclusion, Dr. Wolday Amha
9.20 - 10.00 Why DFS? Ignacio Mas
10.00 - 10.20 Questions and discussion
10.20 - 10.40 Coffee break (and press event)
10.40 - 11.15 How DFS? Ignacio Mas
11.15 - 12.00 Panel discussion moderated by John Primrose
12.00 - 12.25 Questions and discussion
12.25 - 14.00 Lunch

3. DFS in Ethiopia
Readiness assessment & opportunities
Ignacio Mas

4. Agenda
5
Why?
How?
• The logic and economics of DFS
• International experience: progress and lessons
• The magnitude of the need/opportunity
• Market readiness assessment & initiatives
• Market development scenarios
• Intervention opportunities for EP

5. What is DFS?
6
Branch Agent Phone
Assisted channel:
• Physical proximity: convenience,
security
• Cultural proximity: trust,
education
Self-service channel:
• Immediacy
• Privacy
Delivering
financial services
beyond financial
institutions´
specific
infrastructure
A utility that
supports a
variety of
fundamental
socio-economic
needs
Ubiquitous real-time
payments grid
People helping
each other
(“social
insurance”)
Banks helping people
(financial services)
Government helping
people (efficiency,
less corruption)
Business growth
(efficiency, control, jobs)

6. 4. Platform
interoperability
1. A reliable, low-cost
real-time electronic
payment system
New digital
money cloud
Key elements of a DFS ecosystem
7
CONVENIENCE
INCLUSION
UNIVERSALITY
USEFULNESS
REACH
5. Payment
aggregators
2. A ubiquitous,
liquid cash in/out
(CICO) network
3. Financial institutions
adding (non-real time)
financial services
Cash cloud where
most people live

7. DFS is a volume game
8
Critical mass point
Like pushing
rocks uphill
Like a snowball
rolling downhill
Volume
Effort to
maintain
and grow
5,000
Active agents
40
C-Tx/day
30
Days/month
Cash transactions:
agent perspective
2m
Active clients
2
e-Tx/client/month
1.5
c-Tx/e-Tx
Cash transactions:
client perspective
=
40
C-Tx/day
$2.80
Per day
$0.07
Per c-Tx
=
The toughest
economics is
in cash-
in/cash-out
(CICO):
density
... Which leads to strong scale effects
if DFS is developed on a stand-alone basis
Note: Banks do have a more incremental
path to building viable agent networks.
6m tx/mo.

8. Key business drivers
9
• Build a sufficiently dense, liquid
CICO network
• Deliver a sustainable agent
business case for day-in, day-out
value proposition
Distribution challenge
... captured
through enough
CICO points
Develop enough use cases that are:
• Addressable: clear customer pain
points
• Large: create sufficient volume
Marketing/product development
challenge
Merchant
payments
G2P
P2P
Ag
Value
chain
Bill
payment
Potential transaction
pools to create
requisite volume
Wages

9. Managing competition & collaboration
10
Cash in/Cash out (CICO)
Electronic ↔ Cash
Agent network
managers
Digital payments acquiring
B2C, C2B, G2P,...
Acquirers &
processors
Real-time money transfer platform
Electronic ↔ Electronic
Telecoms
networks,
clearinghouses
Account management platform
Accounting
System
integrators
Product development & issuance
Deposits, loans, deferred payments, etc.
Investment &
custodial services
Sales channels
Marketing, advisory, sales
Marketing
agencies
Economies
of density
Economies
of scale
Economies
of scope
Client
affinity
Supporting servicesValue chain componentsEconomic driver
Competition
shouldprevail
Strongarguments
tocollaborate

10. Agenda
12
• The logic and economics of DFS
• International experience: progress and lessons
• The magnitude of the need/opportunity
• Market readiness assessment & initiatives
• Market development scenarios
• Intervention opportunities for EP
Why?
How?

11. The global experience: Market players
13
Banks have
been reluctant
to develop
extensive agent
networks
• For larger banks, should be a no-brainer to start with branch decongestion.
• They still tend to think of agents as mini-branches, which limits their ability (and
appetite) to grow the agent channel.
• Brazil: started with and is largely dependent on over-the-counter bill payments.
• Kenya: strategic response to M-PESA; Equity Bank does more transactions
through agents than all other channels combined.
• Mexico: extensive but expensive due to strong bargaining power from retail
networks (OXXO, 7Eleven).
Mobile
operators
have made a
run for it, with
mixed results
• Many operators have jumped into the space, where regulations allow. They
largely follow a closed loop model; business case based on creating customer
loyalty to the core telephony service.
• M-PESA in Kenya was stunningly successful in getting to critical mass quickly.
• Rapid growth of Ecocash in Zimbabwe and Telesom in Somaliland on the back of
financial turmoil.
• Also growing in Uganda (MTN) and Rwanda.
• Competitive market with 2+1 players in Tanzania, now starting to interoperate.
• Mostly real-time payments; few meaningful linkages with banks.
Mobile
operators
have made a
run for it, with
mixed results
Third parties
have struggled
to be relevant
• Biggest success is bKash in Bangladesh, in partnership with BRAC Bank.
• Zoona in Zambia has specialized in agent network management.
• Most tech players, in India and elsewhere, have had difficulty creating scalable
partnerships with licensed players. Many pilots, little impact.
• Shared agent networks emerging (slowly and painfully) in Peru and Colombia.

12. The global experience: Government
14
Many governments
are now focused on
financial inclusion
• Financial inclusion directorates within the financial authority, e.g.
Philippines, Mexico, Ethiopia.
• National strategies, e.g. Indonesia, Pakistan, Peru, Tanzania.
• Growing AFI membership and Maya Declarations.
More flexible
regulation based on
risk-based principles
• Authorization to operate agent networks, to extend reach (most
countries).
• Tiered KYC standards, to make it easier for unbanked customers to try
(e.g. Indonesia, Haiti, Mexico).
• Creation of e-money licenses, to let broader set of players get involved
(e.g. Philippines, Bolivia, Peru, Brazil, Kenya, Colombia).
Few have addressed
core interoperability
issues
• Mexico: interoperable real-time switch (SPEI).
• India: Unique ID (UIDAI) and biometric authentication framework;
interoperable real-time mobile payments switch (IMPS).
A few have sought
unified national
schemes, so far
unproven
• Maldives: interoperable scheme involving all banks and telcos.
• Ecuador: central bank-operated mobile money system.
• Peru: shared service platform for all banks, operated by Bankers
Association.

13. Agenda
16
• The logic and economics of DFS
• International experience: progress and lessons
• The magnitude of the need/opportunity
• Market readiness assessment & initiatives
• Market development scenarios
• Intervention opportunities for EP
Why?
How?

14. Demographics
Magnitude of the need – and opportunity
17
According to the World Bank´s Findex 2015 demand-side survey... as % of adults aged 15+ years:
• Account ownership: 22% have an account at a formal financial institution (FI)
• Savings: 48% saved during the year, but only 15% at a FI
• Borrowing: 43% borrowed during the year, but only 7% from a FI
• Domestic remittances: 7% sent in the last year, and 5% received
• Wage payments: 9% received wage payments, but only 0.8% were paid into a FI account
• Agro product payments: 97% were paid in cash, 0.05% into a FI account
• Utility bills: 35% paid bills in the last year, but less than 0.1% from a FI account
• School fees: 11% paid school fees in the last year, but less than 0.1% from a FI account
• Mobile access: Less than 0.1% used their mobile to make a financial transaction or have a
mobile-enabled bank account
• Internet access: 0.4% used the internet to pay bills or buy things
• 80-100m population, 85% agrarian
• 45-50m working age, of which 50% are in the 15-29 age bracket.
• 4m official population in Addis Ababa, few other large cities.

15. Potential payment pools
18
P2P money transfers
• Done largely through banks, quite cheaply (e.g.
ETB10 for transactions up to ETB1,000).
• Mainly direct deposit or check. Few banks (e.g.
Union Bank) can do automated ACH.
• May involve someone picking up the money and
delivering it to the intended beneficiary.
• Main proposition for Mbirr & HelloCash, but still
very low transaction volumes.
• No quantification of pent-up demand.
Government payments
• G2P: Driven by a large Government drive for social
protection, reaching 4.5m people. Payments are
concentrated in a few days per month, and spread
over a wide geographic area. E-PSNP beneficiaries
often do not understand that they have an e-
account.
• Taxes: Very few taxes paid electronically. Taxes
cannot be paid through third parties.
• Public salaries: Federal government salaries are
paid into accounts, but there is no policy driving
digitization of regional government salaries (maybe
1-2m employees).
Bill payment
• Concentrated in urban areas.
• Ethio Telecom, Addis Ababa Water and Sewerage
Authority payments can be done through Lehulu
Centers under a five-year contract, which today
handle 900k payments monthly. Mainly cash-based,
though Kifiya is piloting outbound agents collecting
payments.
Airtime purchases
• It´s a competitive market, still based on scratch cards.
• EthioTelecom is now setting up an e-top-up channel
centered on the Postal Service, Hadesha and two new
national distributors.
Merchant payments
• Very fragmented card/POS network today, though
EthSwitch is expected to provide interoperability
during 2016.
• Low card penetration & activity. E.g. for CBE: 11m
clients, 2m cards issued, 1.2m cards active
• A few prepaid cards associated with retail networks
(e.g. Fettan with OilLybia and Shoa)

16. Questions and discussion
19
Agenda:
9.00 - 9.10 Opening remarks, Nebil Kellow
9.10 - 9.20 Opening speech Financial Inclusion, Dr. Wolday Amha
9.20 - 10.00 Why DFS? Ignacio Mas
10.00 - 10.20 Questions and discussion
10.20 - 10.40 Coffee break (press event)
10.40 - 11.15 How DFS? Ignacio Mas
11.15 - 12.00 Panel discussion moderated by John Primrose
12.00 - 12.25 Questions and discussion
12.25 - 14.00 Lunch

18. Agenda
21
• The logic and economics of DFS
• International experience: progress and lessons
• The magnitude of the need/opportunity
• Market readiness assessment & initiatives
• Market development scenarios
• Intervention opportunities for EP
Why?
How?

19. Readiness assessment: Government
22
Strengths, opportunities Weaknesses, challenges
Policy
readiness
• Government commitment to DFS as a
key tool for national development.
• Government as largest micro-payer,
with its own DFS needs.
• Growing, but still insufficient,
understanding of key DFS drivers and
global best practices.
• Restrictive agent/mobile regulations.
• No national ID yet.
• No legal framework around e-payments.
• Drive to digitize social welfare payments
(through e-PSNP) and purchases of seeds
& fertilizers from co-ops (with vouchers).
• Payment of taxes via third parties not
authorized – a limitation for
automated payment solutions.
• Must issue paper VAT receipts – a
limitation for online commerce.
e-Gov
readiness
• Planned network of 3k ICT centers (16k
eventually).
• Interest from several fintech specialists
to support digital finance.
• Low level of IT sophistication across
MFIs, coops and SACCOs.
• Lack of legal certainty for TSPs per
agent & mobile regulations: must
transfer tech to FIs.
• High cost of importing equipment.
IT
readiness

20. Readiness assessment: Banking
23
Strengths, opportunities Weaknesses, challenges
• No history of formal bank failures.
• Rapidly growing branch network.
• State control over the major FIs makes it
potentially easier to align with policy.
• Very low/no commissions, typically no
ledger fees.
• Banks focused on large profitable
growth opportunities, e.g. forex.
• Government funding mandates (27% of
loan portfolio must be invested in public
bonds), increasing cost of
intermediation.
• Many FIs still on decentralized IT
systems, with offline branches.
• “Free cash” at counters, ATMs.
• Heavy-handed infrastructure mandates
may force non-commercial approaches.
• Fragmented card issuing/acquiring;
limited inter-bank interoperability; very
low card/POS penetration.
• Largest bill is 100 birr; difficult for ATMs.
Banking
readiness
• 25% p.a. growth in branches may
distract from DFS agenda
• 50-agents-per-branch may force a
low-quality network with weak
financial incentives
• Little scope for experimenting with
and differentiating DFS strategies.

21. Readiness assessment: Adjacencies
24
Strengths, opportunities Weaknesses, challenges
• EthioTelecom reaching 72k outlets.
• 1000+ postal offices.
• 100k co-ops
• Gas stations: 800 NOC, 140 OilLybia,
220 Total
• No major FMCG chains; closed to
foreign investment.
• Large government presence through
coops, with less commercial drive.
Retail
distribution
readiness
• Major recent upgrades in cellular
network: 87% of territory covered
(Min ICT).
• Lack of competition in the sector.
• No data bundles < 1 month; relatively
expensive data.
• Offers no Service Level Agreements.
Telco
readiness
• Large internal market: 80-100m.
• Youthful population, evenly distributed
across the territory.
• Very low level of urbanization, at 3.5%.
• 49% literacy rate (UNESCO). Low level
of financial education and experience.
• Multiple indigenous languages, with
different scripts, incl. official working
language, Amharic.
Population

22. Government objectives driving DFS policy
25
• Trust in digital systems can only be built up
experientially: real-time payments/transfers
can help build trust, which can then extend
over payments.
• Money transfer systems are an efficient social
protection mechanism: when in need, people
need to be able to solicit help from others
beyond their community.
• Liquidity is a precondition for money
“sticking” in accounts: people may store more
e-money if it is easy to get it out.
• Retail shops as agents can fill CICO gaps:
people need to procure cash, as much as any
other essential commodity.
• Avoid a patchwork of digital solutions that do
not build to a larger, lower-cost ecosystem
Considerations
• Promote savings
• “Slow down” digital
money so that it sticks
in savings accounts
rather than driving
consumerism
• Deploy banking access
points in every kebele
• Rural agents
• RuSACCO
• Leverage digital
solutions for
catastrophe insurance
in agro markets
Implications
Create more self-
sufficiency and
resilience within
rural communities.
Raise savings rate
to fund national
development and
public investment
program.
Broad objective
GTP2
Targets
by 2020
• Demand side: 22% -> 60% of people have an account at a formal insititution.
• Supply side: 47% -> 80% accounts by number / population.

23. Agent & mobile banking regulations
26
Only for licensed
banks and MFIs
• Should there be a new category of financial institution license for narrow
banks or e-money issuers, which do not intermediate funds?
• Fully backed through a trust or pooled account mechanism: push
prudential risks back into banks
• Supervise them for operational & technology risks
• Impose the necessary consumer protection obligations
Questions / CommentsKey points
• Technology Service Providers (TSPs) operate under substantial legal
uncertainty, as they are required to transfer their technology to the FI
they operate for eventually.
• What is the logic of forcing a build-operate-transfer (BOT) contract?
• TSPs must raise their costs if they have a shorter period for
recovering their investments.
Technology
transfer
Account limits • Account limits are currently set as: ETB 25k saved balance, ETB 6k daily
debit transaction totals. Is there a path to enhance KYC and have the
limits raised or eliminated without having to visit bank branches?
Agent due
diligence
• Police record may be difficult to get for rural agents. They may also not be
relevant when the agent is a business.

24. FI initiatives on proprietary channels 27
FIs building own channels alone
• Mobile: Most banks (but not MFIs) provide mobile
& internet access to existing clients, through web,
USSD and apps. Usage remains low.
• Agency: Banks still do no have a clear strategy to
roll out their own agents
• Union Bank was the first to deploy agents, 18
months ago. It had 450 agents, but only a
quarter are still active as it struggled to create
customer awareness. Going forward, it is likely
to rely on more outsourcing of agent network
management functions.
• Dashen Bank bought the m-FINO mobile and
agent management solution, but it is only
partly implemented. It only deployed 23
agents; the activity is now paralyzed pending a
strategic review.
• Own oubound channels: Buusa Gonofa, supported
by UNCDF, has 80 POSs associated with 10
branches. The MFI´s own staff go to busy market
locations and use the POSs in off-line mode only,
mainly for scheduled loan collections.
FIs building own channels with TSP support
• Coops and SACCOs as agents by Kifiya/ACSI:
• Did proof of concept with 1 union (10 coops,
10k farmers) and 1 large buyer. Now planning
to pilot in 2016 with 4 unions (20 coops) and 2
large buyers.
• Preparing to launch a pilot with 10 SACCOs in
North Gondar Region by March 2016,
supported by EP.
• E-PSNP and other G2P pilots:
• ACSI & Kifiya have a pilot in 2 waredas and 10k
beneficiaries; scaling up with 5 more waredas.
Offline solution based on smartphone with
biometric beneficiary identification.
• OCSCO & M-Birr are running a pilot in 2
waredas and 10k beneficiaries; scaling up with
7 more waredas. Offline solution based on
smartphone with NFC tag for beneficiary
identification.
• Somali MicroFinance & Belcash did a World
Bank-funded trial in Somali Region.

25. Other DFS initiatives 28
Facilitating value chain payments
• ATA´s Rural Financial Services (RFS) is
distributing vouchers for seeds and fertilizers
through ACSI branches. Kifiya supports the
roll-out, using Apposit software platform
purchased by ATA. Pilot involved 200k
farmers, potential to scale up to 18m.
• SNV & Heineken have an initiative to
support digital payments through malt
barley value chain, with Kifiya as TSP.
Other retail payment initiatives
• Fettan partners with Wegagen Bank to offer
prepaid and gift cards to OilLybia (140
stations) and Shoa supermarkets (9 outlets).
POS-based, so outside agent/mobile
regulations.
• Mobile Lehulu agents: Kifiya is trialing
mobile bill payments through 90 roving
agents in urban areas, with support from EP.

26. Agenda
31
• The logic and economics of DFS
• International experience: progress and lessons
• The magnitude of the need/opportunity
• Market readiness assessment & initiatives
• Market development scenarios
• Intervention opportunities for EP
Why?
How?

27. Potential market development scenarios
32
1. Fragmented market
• Players develop independently of each
other.
• All exist precariously for a long time,
struggling to attain critical mass.
• Little product innovation, as all efforts are
expended on operations.
• Marketing efforts are focused on use cases
with higher willingness to pay (G2P, not
savings), i.e. margin over volume.
2. Superhero emerges
• Only one player achieves critical mass:
• Network effects (tipped market), and/or
• Government policy of picking a winner.
• Others locked out of its agent network,
which becomes the key barrier to entry.
• Fewer incentives to innovate at the product
level.
• Superhero becomes a de-facto natural
monopoly, an essential utility.

28. Potential market development scenarios
33
3. Banking incrementalism
• Banks roll out agent networks, in their own
time, linked to their core deployment
strategies.
• Others do not find a way to enter the
market or sustain a more aggressive
deployment strategy.
• CBE and the larger regional MFIs take the
lead de facto, since they have a larger
existing branch base to leverage from.
4. Layered market
• NBE regulations encourage an unbundling of
the value chain, by creating a distinct license
for each type of player.
• Different players concentrate on different
horizontal segments of the ecosystem.
• Some segments are more dominated than
others, reflecting different economic drivers.
• Most stores sign up with one agent network
manager, which providers access to the
services of all financial institutions.
CICO network
management
Electronic wallet
system
Switches, aggregators
Financial solution
providers

29. Agenda
35
• The logic and economics of DFS
• International experience: progress and lessons
• The magnitude of the need/opportunity
• Market readiness assessment & initiatives
• Market development scenarios
• Intervention opportunities for EP
Why?
How?

30. Map of potential interventions
36
3. Fill in information
gaps (research &
dissemination)
Demand-side
research
To drive business
modeling & product
development
Supply-side insights
To drive
operational
effectiveness
“Digital Hawala”
“Pre-DFS”
interoperable over-
the-counter
network.
Independent agent
network managers
CICO outlets that
can serve any FI
clients
4. Drive towards
shared distribution
networks
Fintech Industry
Association
Non-banks
EthSwitch financial
inclusion working
group
Banks & MFIs, focus
on interoperability
2. Sponsor forums
to discuss cross-
industry issues
1. Shape a broader
policy vision around
DFS
Fostering national
dialogue
Specialist advisory
services

31. 1. Shape a broader policy vision
37
What: Reset some of the basic assumptions on which DFS policy is premised, by reframing the
discussion around a broader “big vision.”.
How: Work top-down, by creating higher-level alignment before undertaking discussions at
the detailed regulatory and implementation level.
• Broaden the purpose of DFS: building a digital economy, where access to
a national money grid is a basic element of modern citizenship – a 21st
century utility. Financial inclusion is one of the benefits.
• Encourage more business model innovation: Rather than seeking
monolithic players who must be responsible for every aspect of DFS,
regulation should permit an unbundling of the value chain functions
that have very different economic drivers and risks (e.g. independent
agent network managers, e-money issuers).
• Raising the importance of business payments and domestic money
transfers as a driver of socioeconomic progress and rural resilience.
• Modifying agent & mobile regulations to balance policy objectives
and practical on-the-ground realities(e.g. on agent due diligence,
account limits.

32. 2. Sponsor industry forums
38
Fintech Industry Association
Create an industry body around which the
interests of technology-enabled financial
inclusion can coalesce:
• Create common discussion & position
papers on policy/regulatory issues.
• Commission and disseminate demand-
side research.
• Drive common communications and
training initiatives.
• Discussion platform for issues like
interoperability.
Participation: TSPs, plus future payment
service providers and agent network
managers.
EthSwitch financial inclusion scenarios
Work with EthSwitch and its member banks
to develop interoperability scenarios for
financial inclusion, including straw man
business models and business cases
• Low-cost merchant acquiring solutions
• Shared agents
• Money transfer routing through mobile
numbers, with a number/account/PAN
translation database.
What: Create a voice for essential players in the DFS ecosystem beyond financial institutions.
How: Support the fintech industry by sponsoring an association; support EthSwitch to position
itself as a key enabler of the broader DFS vision.

33. 3. Fill in information gaps
39
• Conduct market research on the various potential transaction pools (e.g.
P2P) covering:
• Estimate current transaction volumes
• Describe the mechanisms used today, including their costs & pain points
• Assess extent of pent-up demand & willingness to pay.
Quantify
market
opportunities
as business
model inputs
• Arrange regular “field Fridays” for the industry: a series of trips to the field
for industry participants to better understand the needs and circumstances of
target BOP clients.
• Drive Human Centered Design (HCD) demonstration projects: focused
particularly on increasing the take-up of savings solutions by poor people.
Create aware-
ness of the lives
& needs of the
informal poor
• International learning visits: showing the intricacies of how agent networks
and below-the-line marketing work.
• Hosting workshops with international topic specialists.
Sharing of global
best practices to
drive operational
effectiveness
What: Become an information resource for the industry, bringing together knowledge about the
local environment as well as relevant international experiences.
How: Conduct assessments of information gaps, contract research partners, publish findings,
organize dissemination events, maintain active .

34. 4. Drive towards shared CICO networks
40
• Establish a shared scheme for customers of one DFS provider to be
able to cash in or out at the agents of another DFS provider.
Participating outlets may carry a distinct logo representing the shared
cash scheme (e.g. “EthioCash available here”). This could work
through EthioSwitch or a private scheme clearinghouse.
Shared CICO logo
expressing
common access
“Pre-DFS” over-
the-counter
network money
transfers
• Promote the development of a broad-based network offering over the
counter (OTC) services, such as bill payment, G2P and domestic money
transfers. This would offer agent-assisted services, and customers may
subsequently be migrated to an account-based, self-service platform.
What: Drive consensus across public and private players for the need to create shared
infrastructures for CICO, where the economics is hardest.
How: With with policymakers and industry groups to create the right regulatory environment,
PPP frameworks, and commercial agreements to make this possible.
Independent
agent network
managers
• Create regulatory room for agent networks to operate independently
of financial institutions.
• Identify which domestic players may be in the best position to assume
the role of agent network managers, and promote the idea with them.

35. Money transfer systems
41
CashCash
payment
1. Cash in 3. Cash out
2. P2P
Provider A´s
agent network
Account-based
P2P, closed loop
CICOCICO
Over-the-counter,
closed loop
Provider B´s
agent network
Over-the-counter,
open scheme

36. The role of agent network managers
42
Financial
institutions
Retail
outlets
(ANM) Agent
network
managers
Unlicensed ANMs can only act on behalf
of banks that have given them a contract.
• Consumer protection obligations flow
onto the ANMs contractually.
• Retail outlets may sign up with multiple
banks & ANMs to meet all their clients´
needs, involving multiple contracts,
devices, liquidity pools, trainings, visits...
Independently licensed ANMs may sign
up with any and all banks, simply by
depositing money in each.
• License conditions impose consumer
protection obligations directly on ANMs.
• Retail outlets can offer service to all
bank customers through a single
relationship.

37. Organisation Persons
Belcash (Hellocash) Vince Diop (CEO), Abraham Guilat (Agent
Network Director), Tewodros Tassew
(Operations Manager)
Kifiya Financial Technology Munir Duri (CEO), Yilebes Addis (CIO)
MOSS ICT (M-BIRR) Thierry Artaud (CEO), Kidist Zegeye (Deputy
General Manager)
Fettan Yemiru Chanyalew (CEO)
Apposit Eric Chijioke (Managing Partner)
AEMFI Dr. Wolday Amha (Executive Director)
AOWEDAO Teshome Kebede (CEO)
WEDP Chris Malwadde, Pius Sigei
ADCSI Addis branch staff
ACSI Agazi Getahun (Operations Director),
Libo Kemken branch staff
Buusa Gonofa Microfinance Teshome Yohannes Dayesso (CEO)
SACCOs & Multipurpose
Coop in Edget Lerobit and
Libo Kemkem
SACCO and COOP staff
ATA Hailemelekot Teklegirogis
Organisation Persons
NBE Temesgen Zekele (Policy), Abate Miktu
(Microfinance Supervision)
CBE Melika Bedri (VP Information Systems)
Public Finance Enterprise
Agency
Mr Sewagegen (Transformation Director)
MoICT Dr. Abiyot Bayou (Director E Gov Directorate)
MoFED Melaku Kfle (PSNP Coordinator, Channel 1)
EthSwitch Bizuneh Bekele (CEO)
Ethio Telecom Said Aragaw Ahmed (Chief Officer Residential Sales
Division)
United Bank (Hebrit Bank) Amha Tadesse, Manager IT Infrastructure and
Payment Departnment
Dashen Bank Robel Alemayehu, Manager E-Banking Services
Zemen Bank Helaway Tadesse, Senior Vice President
DfID John Primrose, Shewit Emmanuel ,Emma Williams
Netherlands Embassy Betselot Mesfin Admassu; Hans van den Heuvel
(Agricultural Counsellor)
World Bank, Payments
System Group
Thomas Lammer, Francesco Strobbe
LIFT Christian Portail, M4P Coordinator
Meetings held
44

38. Thank You

39. Questions and discussion
46
Agenda:
10.40 - 11.15 How DFS? Ignacio Mas
11.15 - 12.00 Panel discussion moderated by John Primrose
12.00 - 12.25 Questions and discussion
12.25 - 14.00 Lunch
14.00 – 14.30 Roundtable discussions
14.30 – 14.50 Reporting of the 4 roundtables
14.50 – 15.00 Closing remarks and next steps, Nebil Kellow
15.00 – 17.00 Clinics on DFS with Ignacio Mas (sign-in)

41. 4 Groups Roundtable discussion (2.00- 2.30)
48
3. Fill in
information gaps
(research &
dissemination)
4. Drive towards
shared
distribution
networks
2. Sponsor forums
to discuss cross-
industry issues
1. Shape a broader
policy vision
around DFS
Facilitator:
Maurice Koppes
Facilitator:
Kinfemichael
Yibkaw
Facilitator:
Ignacio Mas
Facilitator:
Hajera
Mohammed
Find your group number (1-4) on the sheet you just received
Group 1: this room stage
Group 2: this room entrance
Group 3: other room stage
Group 4: other room entrance
Report back to the main group in this room at 2.30