Safaricom Ethiopia announces MoU with major bank

Safaricom Ethiopia announces MoU with major bank

New arrival in the market – and now the second national operator in the country – Safaricom Ethiopia and Commercial Bank of Ethiopia have signed an MoU.

The MoU, signed last week, outlines a strategic partnership to utilize the potential of the institutions’ capacities and enhance the financial service delivery of the Bank to jointly contribute to the country’s digital and financial inclusion agenda. 

Working together under the umbrella of the partnership, the two entities will integrate their systems to offer services to the underserved and unserved segments of the economy.

Safaricom Ethiopia says it will assist the Commercial Bank of Ethiopia with technology, modern telecom infrastructure, and connectivity to facilitate the Bank’s efforts to reach more customers while providing quality services.

Commercial Bank of Ethiopia says it has its own digital platforms like CBE Birr, mobile banking, ATM and POS services, but, according to Abie Sano, CEO of Commercial Bank of Ethiopia, “we look forward to our partnership with Safaricom Ethiopia to build our capacity with modern technology and connectivity”.

Safaricom Ethiopia customers will be able to purchase airtime at no service charge using a number of mobile banking and USSD options in addition to the Safaricom Ethiopia-branded shops and souks.

Safaricom Ethiopia has already made available similar services through Bank of Abyssinia, Awash Bank, and NIB International Bank and plans to add other banks, microfinance institutions and technology companies.

Sign-up to our weekly newsletter

Keep up-to-date with all the latest news, articles, event and product updates posted on Developing Telecoms.
Subscribe to our FREE weekly email newsletters for the latest telecom info in developing and emerging markets globally.
Sending occasional e-mail from 3rd parties about industry white papers, online and live events relevant to subscribers helps us fund this website and free weekly newsletter. We never sell your personal data. Click here to view our privacy policy.