ADDIS ABABA, Ethiopia – African money transfer giant Dahabshiil and M-Pesa Safaricom-Ethiopia have signed a partnership that will allow the Ethiopian diaspora to send money directly to M-Pesa mobile wallets.
The landmark agreement, signed in Addis Ababa, promises to streamline the remittance process, translating to faster transfers and enhanced security for millions of Ethiopians receiving funds from abroad.
“We are delighted to partner with Safaricom’s M-Pesa Ethiopia, providing our diaspora customers with an additional channel to send money home, thereby enabling them to support their loved ones more efficiently,” said Musse Mohamed, Ethiopia’s country representative for Dahabshiil. “This collaboration aligns perfectly with our mission to deliver accessible and reliable financial services, leveraging M-Pesa’s expanding customer base.”
The partnership aims to simplify the remittance process, making it easier and safer for Ethiopians abroad to support their families back home.
The integration of M-Pesa’s mobile wallet technology with Dahabshiil’s extensive network is expected to enhance the overall customer experience by providing a seamless and secure method for transferring money.
Anthony Kangethe, M-Pesa Safaricom’s acting chief digital financial services officer, expressed his enthusiasm about the partnership: “We are delighted to join forces with Dahabshiil, a leader in international money transfers. Our shared vision of financial inclusion and economic development drives this collaboration.”
Both companies are committed to promoting financial inclusion and economic growth in Ethiopia.
The partnership underscores their dedication to innovation and exceptional customer service, offering a secure and convenient way for Ethiopians to send and receive money.
According to the World Bank, remittance flows to sub-Saharan Africa reached $54 billion in 2023, driven by strong growth in countries like Mozambique, Rwanda, Kenya, and Ethiopia.
Remittances play a crucial role in reducing poverty and contributing to the GDP of recipient countries. Ethiopia alone generates more than $5 billion in remittances annually.
The agreement between Dahabshiil and M-Pesa Safaricom reinforces the commitments made by Ethiopian Prime Minister Abiy Ahmed and Kenyan President William Ruto to leverage the cordial relations between their nations to enhance trade and investment.
