African money transfer leaders Dahabshiil and M-Pesa Safaricom-Ethiopia have forged a strategic partnership to facilitate direct remittances to M-Pesa mobile wallets in Ethiopia. This landmark agreement, signed in Addis Ababa, promises simplified and secure money transfers for the Ethiopian diaspora, enhancing efficiency and ensuring faster transaction speeds.
Dahabshiil expressed enthusiasm about the partnership, underscoring its commitment to providing accessible financial services and supporting families through innovative remittance solutions. With a strong presence across over 100 countries, Dahabshiil plays a pivotal role in facilitating global remittances and bolstering financial inclusion.
M-Pesa Safaricom-Ethiopia’s acting chief digital financial services officer, Anthony Kangethe, highlighted the partnership’s significance in advancing financial inclusion and fostering economic development. The collaboration aims to empower Ethiopians by offering them a secure and convenient way to send and receive money via mobile technology.
The partnership aligns with broader efforts to enhance trade and investment between Kenya and Ethiopia, following diplomatic commitments by their respective leaders. Ethiopian Prime Minister Abiy Ahmed and Kenyan President William Ruto affirmed their dedication to leveraging bilateral relations for mutual economic benefit.
According to the World Bank, remittance flows to sub-Saharan Africa reached $54 billion in 2023, underscoring the critical role of diaspora contributions in poverty reduction and economic growth. Ethiopia alone receives over $5 billion annually in remittances, highlighting their significant impact on the country’s GDP.
Dahabshiil and M-Pesa’s collaboration not only streamlines remittance processes but also reinforces their commitment to innovation and customer-centric service. Together, they aim to enhance financial inclusion across Ethiopia, paving the way for sustainable economic growth and prosperity.
#Dahabshiil #MPesa #Remittances #FinancialInclusion #Ethiopia #KenyaEthiopiaRelations #EconomicDevelopment #MobilePayments #WorldBank
