The central bank said it has updated and published a revised list of duly licensed money transfer agents authorized to operate in Ethiopia, urging the public to verify service providers through its official website.
In the notice, the NBE stated that the 23 entities are either operating without the required authorization or were previously licensed but later found to have engaged in illegal activities. It cautioned that dealing with such providers could expose users to financial and legal risks.
The NBE “strongly advised” the public to refrain from conducting any transactions with these entities as part of broader efforts to safeguard the integrity of remittance inflows and strengthen regulatory oversight.
The entities listed as unauthorized include Adulis Money Transfer, Amal Express, Bakaal Money Transfer, Jubba Express, Quick Pay, Redsea (USA), Tasa Pay, Wise Trading Money Transfer, Amal USA, Avanti, Bananapay, Moneytos, Ramad Pay (Kaah), Shgey, Tawakal Money Services, World Direct Link, Amana Express, Awash Direct, Holden Global, Olympic Financial Group (OFG), Rasmy Pay, TAAJ Money Transfer, and USWyre/Derro.
Source: Adisstandard.
