The House of Peoples’ Representatives of Ethiopia (HPR) approved the National Payment System Proclamation and Public Private Partnership (PPP) Proclamation yesterday. The National Payment System Proclamation was proclaimed as Proclamation No. 1282/2022 repealing the existing proclamation 718/2011. The Parliament also approved the draft PPP Proclamation as Proclamation 1283/2022 amending Proclamation 1076/2018.

According to Desalegn Wedaje, Chair of the Plan, Budget and Finance Permanent Committee of the Parliament, the National Payment System Proclamation is important to enhance and secure the payment system in the country. He also stated that the PPP Proclamation would help the finance sector develop by creating an enabling environment where knowledge and skill would be transferred to the private sector.

Yinager Dessie (PhD), Governor of the National Bank of Ethiopia, on his part, said that the National Payment System Proclamation would not cover banking activities. However, according to the Governor, it allows foreign investors to invest in payment services which are not classified as banking services.

Source (including image): HPR