Safaricom M-PESA, in partnership with Dashen Bank S.C. and CashGo, has officially launched a new international remittance service in Ethiopia, enabling customers to receive funds instantly from overseas. This collaboration aims to provide a seamless, secure, and efficient way for Ethiopians to receive money from abroad directly into their M-PESA mobile wallets.
The launch marks a significant milestone in expanding accessible and reliable financial services for Ethiopians. Users can utilize their M-PESA balance for various transactions, including sending money, making merchant and bill payments, purchasing airtime and data, or withdrawing cash from authorized agents.
Read: Safaricom Expands M-Pesa Global Service to Ethiopia
Speaking on the development, Elsa Muzollini, CEO of M-PESA Safaricom, emphasized the importance of the partnership in promoting financial inclusion and advancing digital financial solutions. “We are partnering with Dashen Bank and CashGo to enhance remittance services for our customers. This collaboration aligns with our mission to drive financial inclusion and provide innovative digital financial solutions.”
“By integrating M-PESA with CashGo, we are making it easier for Ethiopians to receive funds from abroad securely, conveniently, and instantly into their mobile wallets. With this service, recipients no longer need to visit financial institutions to collect funds; instead, they can access their money instantly on their phones, enhancing financial accessibility and ease of use.” Muzollini added.
Under this agreement, Dashen Bank will serve as the exclusive settlement and acquiring bank, ensuring the smooth processing of remittance transactions received through CashGo. Meanwhile, CashGo will provide the digital remittance platform facilitating the fund transfers, while M-PESA Safaricom will enable customers to access their funds instantly through their mobile money accounts.
Read: How Ethiopians can Pay Insurance through M-Pesa
Dashen Bank’s CEO, Asfaw Alemu, expressed enthusiasm about the partnership, highlighting its impact on financial inclusion and customer convenience. “I am delighted to announce Dashen Bank’s strategic partnership with M-PESA Safaricom and CashGo, which marks a significant milestone in enhancing international remittance services for Ethiopians. This collaboration reflects Dashen Bank’s unwavering commitment to driving financial inclusion and providing innovative solutions that meet the evolving needs of our customers.”
“As the exclusive settlement and acquiring bank in this partnership, Dashen Bank will play a pivotal role in ensuring secure and efficient processing of remittance transactions. By combining our financial expertise with CashGo’s advanced digital remittance platform and M-PESA’s mobile money services, we are proud to offer a seamless, instant, and secure way for Ethiopians to receive funds from abroad directly into their M-PESA wallets.” Alemu stated.