Ethiopia is set to introduce its first locally issued credit card, a major step toward a formal, cashless financial system.

SanuPay, an East African card technology firm, is leading the effort with global payments provider OpenWay and local operator SantimPay. SantimPay recently opened Ethiopia’s first POS machine assembly plant and national payment switch system.

The rollout plans include issuing 4 million debit and prepaid cards and 5,000 Visa and Mastercard credit cards. Oromia Bank is expected to issue the first domestic credit cards and launch a co-branded loyalty card with Sheba Miles.

OpenWay’s Way4 platform will power card issuance, acquiring, switching, mobile wallets, plus 10,000 POS terminals and 200 ATMs nationwide.

While mobile money has grown across Africa, credit card use remains low due to infrastructure and regulatory challenges. This new initiative signals a shift to expand financial inclusion and modernize payments.

SanuPay also operates regionally, working with Kenyan and Rwandan fintechs on card processing, remittances, virtual cards, and digital wallets. OpenWay’s Way4, used by banks like Kenya’s Equity Bank, offers fast adaptability for dynamic markets.