mpesa

Sending money home just got easier for Ethiopians living abroad. M-Pesa, Ethiopia’s leading mobile money platform, and Dahabshiil, a global leader in money transfers, have joined forces to offer a faster and more convenient way to send remittances directly to M-Pesa mobile wallets in Ethiopia.

This partnership is a boon for the Ethiopian diaspora, estimated to be in the millions. With Dahabshiil’s extensive network reaching over 100 countries and its nearly 50 years of experience, sending money back home becomes a smoother process. By leveraging M-Pesa’s established financial system boasting over 3 million users in Ethiopia, Dahabshiil strengthens its position as a key remittance provider in the country.

“We are thrilled to partner with M-Pesa Ethiopia,” said Musse Mohamed, Dahabshiil’s country representative for Ethiopia. “This partnership allows our diaspora customers another channel to send money quickly and securely, supporting their loved ones back home.”

M-Pesa has been a major driver of financial inclusion in Ethiopia since its launch. This strategic partnership with Dahabshiil is expected to further this goal. “We are delighted to partner with Dahabshiil, a renowned name in international money transfers,” shared Anthony Kang’ethe, M-Pesa Ethiopia’s acting Chief Digital Finance Officer. “Together, we share a vision of promoting financial inclusion and driving economic growth in Ethiopia.”

The remittance market in Africa is substantial, with the World Bank reporting over $50 billion received in 2023 and a projected increase of 4.2% for 2024. Ethiopia, with a large diaspora community, is a key player in this market, receiving an estimated $5 billion annually. M-Pesa and Dahabshiil aim to capitalize on this opportunity by offering a competitive and convenient service.

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Ethiopia’s recent economic liberalization efforts, particularly in the telecommunications sector, combined with a sizeable unbanked population, create a prime environment for digital wallet services and fintech companies to expand their reach. This partnership between M-Pesa and Dahabshiil is a significant step towards achieving financial inclusion and economic growth in Ethiopia.

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Nigel Jr.
As a tech enthusiast and expert, Nigel Jr. is dedicated to providing in-depth and insightful content on all things technology. With a background in online journalism, product reviewing, and tech creation, Nigel has become a trusted source for all things tech.

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