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News - Financial

AliExpress, part of the Alibaba Group, announced last week that it will start accepting Birr for transactions

Apr 06, 2025
AliExpress, part of the Alibaba Group, announced last week that it will start accepting Birr for transactions

- The service, set to begin on February 24, 2025, is also being rolled out in Morocco, Egypt, Tanzania, Algeria, and South Africa.

- The company was established in 2010 by Alibaba and expanded its business-to-consumer services to Ethiopia in August 2024. It sells over 200 million products on its platform worldwide.

- However, questions remain about the payment settlement mechanism, as regulators at the National Bank of Ethiopia (NBE) say key details are still in the air. While there has been talk of a currency swap agreement between Ethiopia and China, it has yet to be finalized.