Wegagen Partners with Worldremit

May 18 , 2019


[ssba-buttons]

Wegagen Bank and Worldremit have partnered to provide a digital money transfer service in Ethiopia. The partnership will allow three million Ethiopian diaspora living abroad in over 50 countries to send money to Ethiopia to over 1.2 million Wegagen bank account holders at any of the 338 Wegagen branches. “The new partnership will further expend WorldRemit’s reach in Ethiopia,” said Sharon Karuga, regional director of East & Central Africa at WorldRemit. Worldremit has previously partnered with six banks including Commercial Bank of Ethiopia. Ethiopia receives billions of dollars in remittance every year. Most of this comes from the Middle East and North America. However, studies suggest that a significant portion of remittance to the country still flows through informal channels. Wegagen earned over a billion Birr in gross profits in the past fiscal year.


Radar

Bank of Abyssinia Signs Partnership with Droga Cooperative

Bank of Abyssinia has entered into a partnership agreement with Droga Health & Financial Savings and Credit Cooperative to provide financial support and services for its members. The agreement was signed yesterday at the Bank's headquarters. The deal aims to strengthen collaboration between the two institutions, enabling cooperative members to access tailored banking services. It was signed by Wosenyeleh Abera, Deputy CEO for Customer Relations and Marketing at the bank, and Zelalem Yilma...


Radar

Wegagen Introduces Real Time SWIFT Tracking

Wegagen Bank has launched a new mobile app feature enabling customers to track international SWIFT payments in real time. The bank is the first in Ethiopia to introduce an online SWIFT payment tracking system. By integrating SWIFT Global Payment Innovation, customers, particularly those involved in import-export trade, can monitor cross-border transactions using a Unique End-to-End Transaction Reference (UETR) directly from their smartphones. To use the service, customers select the SWIFT...


Radar

National ID, Zambia Partners to Expands Program Reach

The National ID Program has signed an agreement with Zambia's counterpart to provide consulting services for the development of software that will issue digital IDs. It is the first time the institution has extended its expertise beyond national borders, a sign of growing recognition for its rapid progress. Program officials described the partnership as a milestone in their effort to position themselves as a regional player in digital transformation. The collaboration is expected to center...