The Commercial Bank of Ethiopia (CBE) today launched CBE Connect, a new digital platform designed to integrate multiple financial services into a single application and enable direct transfers from global banks to Ethiopian fintech wallets.
Developed in partnership with local fintech firm StarPay Financial Technologies (Eaglelion Technology Plc), CBE Connect brings together more than seven financial services, combining digital payments with traditional banking services to serve Ethiopians both at home and abroad.
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Speaking at the launch event, CBE Acting President Ephrem Mekuria said the platform is a major milestone in Ethiopia’s financial modernization efforts and aligns with the country’s Digital Ethiopia 2030 strategy. He described CBE Connect as a key component of the bank’s global vision, aimed at bridging local and international users, simplifying remittances, and strengthening cross-border financial connectivity.
The platform supports multiple currencies, including the US dollar, and enables fast, fee-free transfers. Officials noted that this could significantly reduce dependence on informal remittance channels, which currently dominate Ethiopia’s estimated 5 billion USD annual remittance market, while promoting the use of regulated and legal financial systems.
StarPay CEO Besufekad Getachew said the application consolidates more than seven financial services into one platform, removing long-standing barriers to direct transfers between global banks and Ethiopian fintech wallets. Beyond remittances, he added, CBE Connect allows users to pay utility bills from anywhere in the world, manage investments such as purchasing cars or homes in Ethiopia, and handle daily financial transactions with ease.
CBE Connect is fully integrated with Commercial Bank of Ethiopia’s core banking system and connects with other domestic banks, enabling seamless interbank transfers. Its design also supports both online and offline functionality, ensuring access for users in areas with limited or unreliable internet connectivity.
