M-Pesa has partnered with Dahabshiil, a leading international money transfer company to enable Ethiopians living abroad to send money back home.
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 the two 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.