Zemen Inks Integration Deal With Safaricom


Zemen Inks Integration Deal With Safaricom

An interoperability and integration partnership was inked between Safaricom Ethiopia and Zemen Bank executives allowing the bank to work as a super agent for the M-Pesa mobile money platform last week. Safaricom has signed similar agreements with 10 commercial banks such as Hibret, Bank of Abyssinia and Abay as it establishes itself in the mobile money landscape that went live last month. While Safaricom has been operating in Ethiopia for about a year, it received its payment instrument issuer license from the central bank in May, setting the stage for the launch of its mobile money service. Zemen has managed to reach a total subscribed capital of 14 billion Br and passed the central bank's minimum paid-up capital requirement by 2 billion Br ahead of the 2026 deadline. A prior agreement between the two institutions had allowed Zemen to provide cash services for Safaricom agents. The Bank President Dereje Zenebe said they plan to remain at the forefront of digital solutions in banking during the ceremony at the recently inaugurated headquarters last week.

[ssba-buttons]

Radar

Ethiopia Unveils Consortium to Insure Millions of Farmers

Ethiopia has launched its Agricultural Insurance Consortium (AICE), pledging to protect three million farmers by 2026. Announced on July 3, 2025, at the Hyatt Regency, the initiative is backed by Pula Advisors and five major Ethiopian insurers. AICE plans to promote climate resilience through insurance bundled with the government's input voucher system. Leveraging AI platforms like Mavuno and PIE, it plans to standardise products, lower costs, and expand coverage to over 200 woredas. With agricu...


Radar

New Coopbank Partnership Targets Youth Economic Empowerment

The Cooperative Bank of Oromia (Coopbank) has signed a strategic agreement with Melka Ethiopia to provide loan services to over 120,000 young men and women nationwide. The partnership plans to promote youth economic empowerment by expanding access to finance and creating jobs, with a strong focus on rural and underserved areas. Both institutions held joint discussions to explore ways to improve youth livelihoods and financial inclusion. By closing access gaps, the partnership is expected to help...


Radar

Ethiopian Netpreneur Program Training Kicks Off

The Ethiopian Netpreneur 2025 Training Program has officially launched its first cohort in Addis Abeba with 64 entrepreneurs beginning their first round of training. Organised by the Global Digital Talent Academy, the initiative plans to empower local business owners, startup founders, and digital sector players with global-level e-commerce skills. At the launch event, Innovation and Technology Minister Belete Mola (PhD) urged participants to leverage the opportunity to build networks and shape...