Awash Bank, M-PESA Launch Digital Overdraft Service

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Awash Bank has partnered with M-PESA Ethiopia to introduce "Errif be M-PESA," which means "rest with M-PESA" in Amharic. This digital overdraft service allows users to complete transactions even when their wallet balances are insufficient. Launched through a strategic agreement, this initiative is directed towards expanding access to digital savings and credit. Awash Bank's CEO, Tsehay Shiferaw, emphasised the bank's commitment to investing in technology-driven financial services. Meanwhile, M-PESA's CEO, Elsa Muzzolini, remarked the partnership's role in promoting financial inclusion through data-driven lending. By combining Awash Bank's banking infrastructure with M-PESA's mobile platform, this collaboration seeks to enhance access to financial tools for underserved communities.

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