M-PESA Safaricom Mobile Financial Services PLC has announced a strategic partnership with Dashen Bank S.C. and CashGo to revolutionize international remittance services in Ethiopia. This collaboration aims to provide Ethiopians with a seamless, secure, and efficient way to receive money from abroad directly into their M-PESA mobile wallets, marking a significant step forward in the country’s digital financial ecosystem.
This latest development builds on M-PESA Safaricom’s ongoing efforts to expand its digital payment solutions and enhance financial inclusion in Ethiopia. Earlier this year, M-PESA Safaricom partnered with Awash Insurance to integrate digital payment solutions for insurance services. That partnership enabled customers to pay for insurance premiums and access insurance products seamlessly through their M-PESA wallets, further demonstrating M-PESA’s commitment to leveraging technology to simplify financial transactions.
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As part of the new partnership with Dashen Bank and CashGo, M-PESA Safaricom is launching a dedicated international remittance service that will allow Ethiopians to receive funds from abroad instantly into their M-PESA wallets. This innovative service eliminates the need for recipients to visit physical financial institutions, enabling them to access their money directly on their mobile phones. Once received, the funds can be used for a variety of transactions, including sending money to others, making merchant and bill payments, purchasing airtime and data, or withdrawing cash from authorized M-PESA agents.
Elsa Muzollini, CEO of M-PESA Safaricom, emphasized the importance of the partnership, stating, “We are thrilled to collaborate with Dashen Bank and CashGo to enhance remittance services for our customers. This initiative aligns with our mission to drive financial inclusion and deliver innovative digital financial solutions. By integrating M-PESA with CashGo, we are making it easier, faster, and more secure for Ethiopians to receive funds from abroad directly into their mobile wallets. This service empowers users by giving them instant access to their money, enhancing financial accessibility and convenience.”
Under the agreement, Dashen Bank will serve as the exclusive settlement and acquiring bank, processing all remittance transactions received through CashGo’s digital platform. CashGo, a leading digital remittance provider, will facilitate the transfer of funds, while M-PESA Safaricom will ensure that customers can instantly access their funds via their M-PESA mobile money accounts.
Asfaw Alemu, CEO of Dashen Bank, expressed his enthusiasm for the partnership, saying, “This collaboration with M-PESA Safaricom and CashGo represents a significant milestone in improving international remittance services for Ethiopians. It reflects Dashen Bank’s commitment to advancing financial inclusion and delivering innovative solutions that meet the evolving needs of our customers. As the exclusive settlement and acquiring bank, we are proud to play a pivotal role in ensuring secure and efficient processing of remittance transactions. Together with CashGo’s advanced platform and M-PESA’s mobile money services, we are offering a seamless, instant, and secure way for Ethiopians to receive funds from abroad directly into their M-PESA wallets.”
This partnership underscores M-PESA Safaricom’s dedication to supporting Ethiopia’s digital financial services landscape. By combining Dashen Bank’s financial expertise, CashGo’s cutting-edge remittance technology, and M-PESA’s robust mobile money platform, the initiative aims to provide millions of Ethiopians with a more efficient and accessible remittance experience.
