Ethio Telecom is intensifying its efforts to enhance financial inclusion in Ethiopia by collaborating with global technology payment firms.
Recently, CEO Frehiwot Tamru met with a delegation from Visa Inc., led by Michael Berner, Senior Vice President and Head of the South and Eastern Africa Regions, to explore potential partnerships in international digital financial services.
During this meeting, the discussions cantered on the performance of Ethiopia’s first wallet-based Virtual Visa Card and the expanded remittance services introduced via Visa Direct and telebirr Remit in August 2024. This dialogue follows Ethio Telecom’s previous engagement with MasterCard to leverage its telebirr platform to enhance digital banking services throughout Ethiopia.
The agenda with Visa also included a review of the current performance of remittance services and the market’s expanding potential, particularly in the context of recent macroeconomic reforms in the country. Customer feedback on the new remittance services was evaluated to identify areas for improvement.
Both parties recognized the opportunities to integrate Ethio Telecom’s telebirr technology with Visa’s extensive global network. Frehiwot emphasized telebirr’s broad reach, robust infrastructure, and security features as vital elements in this collaboration.
The Visa delegation acknowledged the significant untapped potential within the Ethiopian market and advocated for the development of innovative international services to ‘break the boundary’ of existing limitations.
As a result of their discussions, both parties agreed to establish a joint steering group focused on exploring new collaboration opportunities that aim to significantly enhance innovative digital financial solutions, improve financial inclusion, and contribute to building a digital society in Ethiopia.
