Dashen Bank partners with M-PESA Safaricom Ethiopia and CashGo to transform international remittances for Ethiopians
Dashen Bank partners with M-PESA Safaricom Ethiopia and CashGo to transform international remittances for Ethiopians
Dashen Bank has announced a strategic partnership with M-PESA Safaricom Ethiopia and CashGo, aimed at revolutionizing international remittance services for Ethiopians by enabling direct transfers into M-PESA mobile wallets, ensuring a seamless and secure money transfer experience from abroad.
Dashen Bank has launched a new international remittance service that allows Ethiopians to receive money directly into their M-PESA wallets from abroad. This service enhances financial accessibility and reliability for customers, enabling instant remittances. Users can utilize their M-PESA balance for various transactions, including sending money, making payments, purchasing airtime, and withdrawing cash from authorized agents.
Customers will get a 10% additional markup on average exchange buying rates for three months when they receive money through M-PESA wallet. Additionally, M-PESA Safaricom Ethiopia is offering a free 1 GB internet bonus as part of this promotion.
Dashen Bank’s CEO representative and Chief Retail & MSME Officer Yihnalem Aknaw, announced a strategic partnership with M-PESA Safaricom Ethiopia and CashGo to enhance international remittance services for Ethiopians. He emphasized that this collaboration demonstrates the bank’s commitment to financial inclusion and delivering innovative solutions for its customers.
Dashen Bank, as the exclusive settlement and acquiring bank in a partnership with CashGo and M-PESA Safaricom Ethiopia, will ensure secure and efficient remittance processing. Yihnalem highlighted that this collaboration combines Dashen Bank’s financial expertise with CashGo’s digital platform and M-PESA’s mobile services, allowing Ethiopians to receive funds from abroad directly into their M-PESA wallets in a seamless and instant manner.
Yohannes Million, Chief Digital and Information Officer of Dashen Bank, highlighted the importance of remittances for Ethiopia. He explained that Dashen Bank, in collaboration with M-PESA Safaricom Ethiopia and CashGo, offers an international remittance service that allows users to transfer money quickly and easily through the CashGo app by selecting the M-PESA option.
Elsa Muzollini, CEO of M-PESA Safaricom, said, “We are partnering with Dashen Bank and CashGo to enhance remittance services for our customers. This collaboration aligns with our mission to drive financial inclusion and provide innovative digital financial solutions. By integrating M-PESA with CashGo, we are making it easier for Ethiopians to receive funds from abroad securely, conveniently, and instantly into their mobile wallets. With this service, recipients no longer need to visit financial institutions to collect funds; instead, they can access their money instantly on their phones, enhancing financial accessibility and ease of use.”
Under this agreement, Dashen Bank will serve as the exclusive settlement and acquiring bank, processing remittance transactions received via CashGo. CashGo will provide the digital remittance platform that facilitates the transfer of funds, while M-PESA Safaricom will ensure that customers can access their funds instantly through their M-PESA mobile money accounts.
