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Safaricom’s renowned fintech arm, M-Pesa, has forged an International Money Transfer Agreement with Onafriq, Africa’s largest payments network, to facilitate seamless remittance transfers to Ethiopia from various regions worldwide, including Africa, Europe, North America, and Australia.
This collaboration with Onafriq enables beneficiaries in Ethiopia to receive remittances from across the globe through M-Pesa, following authorization from the National Bank of Ethiopia to launch the remittance service in July 2023.
Paul Kavavu, General Manager for Safaricom M-PESA, expressed enthusiasm about the partnership, stating, “Our objective is to simplify payments, and the integration of international money transfer services into M-PESA perfectly aligns with this goal. With Ethiopia receiving over five billion USD in remittances annually, this partnership will offer the Ethiopian Diaspora a convenient and expeditious formal channel to send money to their loved ones.”
Nika Naghavi, Group Head of Growth at Onafriq, emphasized how this collaboration directly supports the realization of Ethiopia’s digital transformation strategy, ‘Digital Ethiopia 2025’. “We have always advocated for streamlined payments that enhance connectivity through improved access. Partnering with M-PESA Safaricom expands our footprint in Africa and reinforces our position as the premier payments network on the continent.”
This alliance is poised to complement Ethiopia’s endeavors to boost foreign currency inflows through formal channels, providing customers with a secure, inclusive, and dependable service through M-PESA.
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