Ethiopian expatriates can now send money home more conveniently and directly thanks to a new partnership between M-Pesa and Dahabshiil, a leading international money transfer company.
The agreement, signed in Addis Ababa, allows Ethiopians abroad to send funds directly to M-Pesa mobile wallets in Ethiopia.
Dahabshiil, with its extensive global network spanning over 100 countries and nearly 50 years of experience, will leverage M-Pesa’s robust mobile money platform to further solidify its position as a top remittance provider in Ethiopia.
“This partnership with Safaricom’s M-Pesa Ethiopia offers our diaspora customers a faster and easier way to support their families back home,” said Musse Mohamed, Dahabshiil’s country representative for Ethiopia.
M-Pesa has garnered significant traction in Ethiopia, boasting over 3 million users since its launch. This collaboration with Dahabshiil is expected to accelerate financial inclusion within the country.
“We are thrilled to partner with Dahabshiil, a respected player in the international money transfer industry,” said Anthony Kang’ethe, M-Pesa’s acting Chief Digital Finance Officer. “Together, we are committed to expanding financial access and driving economic growth in Ethiopia.”
With remittances to Africa exceeding US$50 billion last year and projected to grow further, Ethiopia’s substantial diaspora community represents a significant market opportunity. This partnership positions both M-Pesa and Dahabshiil to gain a competitive edge in the remittance industry.
Ethiopia’s recent economic reforms, particularly in the telecommunications sector, coupled with its large unbanked population, create a fertile ground for mobile wallet services and fintech companies to expand their reach.