By Abdullahi Salad. - Reporter
Addis Ababa, (Dawan) 29 AUG – Ethiopia's central bank has flagged 17 money transfer operators it says are illegally serving the diaspora as part of a crackdown on informal hawala networks.
The National Bank of Ethiopia said Adulis Money Transfer, Amana Express, Bakaal Money Transfer, Ramada Pay (Kaah), Tasa Pay, World Direct Link, Amal Express, Avanti, Jubba Express, Shgey Money Transfer, Tawakal Money Services, Zola, Amal USA, Awash Direct, Rasmy Pay, Taaj Financial Service and USwyre are not authorized to handle remittances to Ethiopia.
The bank warned that using unlicensed channels can result in financial loss, payment delays, account restrictions and legal action against senders and recipients, and urged diaspora customers to check its official registry.
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The notice is the latest in a series. The NBE flagged four U.S.-based firms, including Shgey, for alleged money laundering in August 2025, named several operators in December 2025 while noting about 100 firms were licensed, and issued another warning in April 2026.
Several firms, including Shgey, Adulis, Taaj and Zola, have appeared on multiple blacklists.
The renewed warnings come as formal remittances have risen sharply following Ethiopia's 2024 foreign exchange reforms, as authorities push to shift transfers into the regulated banking system.