Dashen Bank Partners with Thunes

Nov 13 , 2021


[ssba-buttons]

Dashen Bank has partnered with Thunes, a global payment network, to facilitate remittance transfer. Thunes operates in more than 100 countries and offers multiple channels for customers to transfer money to others. In a press conference held last week, Sandra Yao, senior vice president of Thunes for Africa, stated that the partnership with Dashen Bank will enable customers to make real-time transfers to the receiver's Dashen bank account as well as their digital wallet, Amole. Dashen has more than three million customers on its Amole digital wallet, which was introduced in 2018. Dashen Bank has made strides in the digital banking sector over the past few months, having introduced an international payment gateway in partnership with Visa and collaborated with Flutterwave to facilitate remittance flow.


Radar

Amendment Expands Access for Foreign Traders

Foreign participation in Ethiopia's wholesale, retail, import, and export trade sectors has come under renewed focus as the Ethiopian Investment Board(EIB) approved a significant amendment to Directive No. 1001/2016  in its meeting on May 23, 2025. The amendment, proposed by the Ethiopian Investment Commission(EIC), focuses on refining the legal framework governing foreign investment in these sectors. The decision is part of a broader strategy to enhance the country's appeal as an investment...


Radar

NBE Sets Four Percent Ceiling on Foreign Exchange Fees

The National Bank of Ethiopia (NBE) issued a new foreign exchange market directive on May 20, 2025, that caps commercial banks' forex service fees at a maximum of four percent. Banks are instructed to adapt competitive, transparent, and streamlined pricing for all forex-related services. Effective May 26, 2025, total charges for purchasing foreign exchange whether for imports, service payments, or cash note purchases must not exceed the newly set limit. The directive also prohibits banks f...


Radar

SantimPay Launches Zero-fee Digital Remittance Platform

SantimPay has rolled out FrankRemit, first fully integrated, zero-fee digital remittance platform, in partnership with Bank of Abyssinia(BOA). The service smoothly connects all commercial banks and major mobile money providers, including Telebirr, M-Pesa, and CBE Birr which is a first of its kind in the country. FrankRemit is expected to revolutionise how the Ethiopian diaspora sends money home. Developed locally and tested over the past two weeks with successful transfers from multiple count...