@HibretBank – Ethiopian Business Review

Hibret Bank has secured a major partnership with MasterCard to enhance its card banking services, following the signing of a memorandum of understanding. The agreement is set to provide consulting and financial support to the bank, in line with the global standards set by MasterCard.

Tsigereda Tesfaye, Acting CEO of Hibret Bank, emphasized the importance of adapting to global banking practices to stay competitive within the evolving Ethiopian financial sector. She highlighted that such strategic partnerships are crucial in driving greater efficiency and ensuring long-term success.

MasterCard’s Africa President, Mark Elliott, voiced strong support for the initiative, noting that the partnership reflects the growing interest in electronic payment services within Ethiopia. Elliott also assured that MasterCard will continue to assist local financial institutions, reinforcing their capacity to provide modern, secure payment solutions to Ethiopian customers.

In a groundbreaking move set to transform Ethiopia’s digital financial ecosystem, Ethio Telecom and MasterCard Africa are exploring a strategic collaboration to introduce cutting-edge digital financial services.

A high-level delegation, led by Ethio Telecom CEO Frehiwot Tamiru and MasterCard Africa President Mark Elliott, engaged in discussions to leverage their respective platforms—Telebirr and MasterCard—to expand financial access, accelerate digital payments, and drive sustainable economic growth.

CEO Frehiwot Tamiru emphasized Ethio Telecom’s strong market position, highlighting its vast customer base and robust infrastructure as key enablers in unlocking new digital opportunities. “Our partnership with MasterCard is driven by a shared vision to revolutionize Ethiopia’s financial sector and empower millions through innovative digital solutions,” she stated.

Echoing this sentiment, Mark Elliott, Division President, Mastercard Africa underscored MasterCard’s commitment to the Ethiopian market, citing Ethio Telecom’s rapid growth and infrastructure capabilities as a solid foundation for success. “This collaboration aligns with our mission to drive financial inclusion and create a more connected and competitive digital economy,” he said.

Hibret Bank Teams Up with MasterCard to Boost Card Banking Services

Telebirr and MasterCard Platforms to Power Ethiopia’s Digital Finance Expansion