Safaricom, Abay Bank Form Strategic Alliance to Integrate Services

Aug 26 , 2023


Amid M-Pesa mobile money takeoff, Abay Bank strikes a deal to integrate digital money transaction services with Safaricom Ethiopia. It allows both M-Pesa's and Abay's customers to access the services of the bank while the 1.5 million mobile money customers will also be able to transfer finance from their account to the M-Pesa wallet. The agreement will be signed between Yehuala Gessese, president of Abay Bank, and Paul Kavavu, interim general manager of Safaricom Ethiopia, this week at the Bank's headquarters, Jomo Kenyatta Street. Yonas Yimenu, the bank's agent, merchant & fintech manager disclosed that the service will pave the way to extend its services to a larger segment of the population. He indicated that the Bank had chosen to work with the private telco for its skilled human resources and well-integrated technology. "We aim toward financial inclusion," he said.


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