M-PESA Safaricom partners with Dashen Bank and CashGo to enhance international remittance services

M-PESA Safaricom Mobile Financial Services PLC has announced a strategic partnership with Dashen Bank S.C. and CashGo to enhance international remittance services, marking a significant milestone in Ethiopia’s digital financial services sector. This collaboration is set to provide Ethiopians with a seamless, secure, and efficient way to receive money from abroad directly into their M-PESA mobile wallets.

The newly launched international remittance service will enable customers to receive funds instantly, eliminating the need to visit financial institutions for cash collection. Once received, customers can utilize their M-PESA balance for various transactions, including sending money, making merchant and bill payments, purchasing airtime and data, or withdrawing cash from authorized agents.

Elsa Muzollini, CEO of M-PESA Safaricom, emphasized the significance of the partnership, stating, "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 the agreement, Dashen Bank will serve as the exclusive settlement and acquiring bank, ensuring the secure and efficient processing of remittance transactions received via CashGo’s digital platform. M-PESA Safaricom will facilitate immediate access to funds through its mobile money network, further driving the adoption of digital financial services in Ethiopia.

Asfaw Alemu, CEO of Dashen Bank, highlighted the transformative nature of the partnership, stating, "I am delighted to announce Dashen Bank’s strategic partnership with M-PESA Safaricom and CashGo, which marks a significant milestone in enhancing international remittance services for Ethiopians. This collaboration reflects Dashen Bank’s unwavering commitment to driving financial inclusion and providing innovative solutions that meet the evolving needs of our customers. As the exclusive settlement and acquiring bank in this partnership, Dashen Bank will play a pivotal role in ensuring secure and efficient processing of remittance transactions. By combining our financial expertise with CashGo’s advanced digital remittance platform and M-PESA’s mobile money services, we are proud to offer a seamless, instant, and secure way for Ethiopians to receive funds from abroad directly into their M-PESA wallets."

The partnership underpins M-PESA Safaricom’s commitment to supporting Ethiopia’s digital financial services ecosystem. By leveraging Dashen Bank’s banking expertise, CashGo’s remittance technology, and M-PESA’s robust mobile money infrastructure, the initiative aims to provide millions of Ethiopians with a more accessible and efficient remittance experience.

Through continuous innovation and collaboration, M-PESA Safaricom remains dedicated to leveraging technology to improve financial access and support Ethiopia’s economic growth.

By:  Nana Appiah Acquaye