Safaricom Partners with Onafriq to Enhance Remittance Services in Ethiopia

Safaricom has announced a groundbreaking international money transfer agreement with Onafriq, a leading digital payment firm, aimed at optimizing remittance flows in Ethiopia.

Safaricom Partners with Onafriq to Enhance Remittance Services in Ethiopia
Safaricom Partners with Onafriq to Enhance Remittance Services in Ethiopia

Safaricom Partners with Onafriq to Enhance Remittance Services in Ethiopia

This strategic collaboration empowers individuals within Ethiopia to seamlessly receive remittances from various parts of the world through Safaricom’s renowned mobile money platform, M-PESA.

By integrating International Money Transfer capability into its offerings, M-PESA leverages Onafriq’s extensive network, which connects 500 million mobile money wallets and 200 million bank accounts.

This vast reach facilitates both domestic and cross-border transactions, including disbursements, collections, card issuing and processing, agency banking, and treasury services.

Paul Kavavu, General Manager at Safaricom Ethiopia, expressed the significance of this partnership in simplifying payments, particularly in a country like Ethiopia, which receives over five billion dollars in remittances annually.

Nika Naghavi Highlighted the Importance of the Collaboration

Kavavu emphasized that the collaboration provides the Ethiopian Diaspora with a convenient and rapid formal channel to send money to their loved ones.

Nika Naghavi, Group Head of Growth at Onafriq, highlighted the direct support this cooperation offers to Ethiopia’s digital transformation agenda.

Notably, Ethiopia’s ‘Digital Ethiopia 2025’ strategy focuses on leveraging digital payments to drive financial inclusion and revolutionize the banking sector. Naghavi emphasized the commitment to simplifying payments, connecting individuals, and fostering economic growth.

The partnership with M-PESA Safaricom expands Onafriq’s reach across Africa, reinforcing its position as the continent’s largest payment network.

Naghavi expressed confidence that this collaboration will contribute to economic development and the attainment of sustainable development goals.

‘A Significant Milestone in Enhancing Remittance Services’

In essence, the partnership between Safaricom and Onafriq signifies a significant milestone in enhancing remittance services and advancing financial inclusion in Ethiopia.

By harnessing the power of digital payments, this collaboration aligns with Ethiopia’s vision for a digitally-enabled future and underscores the transformative impact of innovative financial solutions on socio-economic development.

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