LakiPay, a fintech company in Ethiopia, is set to launch a digital payments and finance platform following commercialisation approval from the National Bank of Ethiopia, 10 months after receiving its licence.
The company was founded by Habtamu Tadesse, former CEO of ArifPay, along with 14 shareholders from sectors including aviation and health. “Our ownership structure blends cross-industry expertise to guide strategic and operational decisions,” Habtamu told Birrmetrics.
The 10-month period between licensing and commercialisation was used to understand market needs and ensure regulatory compliance. “We took this time to build a product that truly serves Ethiopian businesses while meeting all regulatory requirements,” Habtamu added.
The platform is designed to support lenders in assessing risk for micro and small enterprises while providing an inclusive, user-friendly experience. “Our goal is to improve access to finance and deliver a platform that is easy to use for all,” he said. LakiPay acts as an enabling layer for banks, mobile money providers, and other financial institutions, rather than competing directly with them.
Revenue will come from transaction fees, with initial efforts focused on micro, small, and medium enterprises and government agencies adopting digital payments. “We are collaborating with major private and public banks and leading mobile money providers, and additional partnerships will be announced soon,” Habtamu told Birrmetrics. The company plans to launch a payment gateway and remittance services in the coming months.
Ethiopia’s digital payments sector has expanded rapidly over the past five years, transitioning from a largely cash-based system with limited financial inclusion to a growing fintech hub. Mobile money accounts grew from fewer than one million in 2020 to over 128 million by early 2025.
Transaction volumes have also surged, with mobile money handling over 40 percent of retail payments and total digital payments projected to reach 20.57 billion US dollar by the end of 2025.
This growth has been supported by government initiatives including the Digital Ethiopia 2025 strategy and the National Digital Payments Strategy, as well as liberalisation of the telecom sector and entry of private banks. Major players include Ethio Telecom’s Telebirr and Safaricom’s M-PESA Ethiopia, alongside emerging fintechs such as HelloCash, Santimpay, and Kifiya.
Despite rapid adoption, challenges remain in rural areas, where internet coverage is limited and digital literacy is lower. Interoperability between platforms and cybersecurity also continue to be concerns, which are being addressed under the National Bank of Ethiopia’s Phase Two strategy, launched in March 2025.