(3 Minutes Read)
Ethio telecom and Visa Inc. have reaffirmed their mutual commitment to supporting the growth of Ethiopia’s digital economy through enhanced cooperation in international digital financial services. This renewed partnership reflects a shared vision to expand access to innovative, inclusive, and secure financial solutions across the country.
During a recent high-level strategic meeting, Ethio telecom CEO Frehiwot Tamru hosted a delegation from Visa led by Michael Berner, Senior Vice President and Head of South and Eastern Africa Regions. The discussions centered on strengthening the relationship between the two institutions, building on their recent milestone achievements, most notably the August 2024 rollout of Ethiopia’s first wallet-based Virtual Visa Card and the launch of cross-border money transfer services through Visa Direct and telebirr Remit.
The meeting served as a platform to assess the performance of these new services, taking into account user adoption trends, customer satisfaction, and feedback. The leaders also examined the broader macroeconomic shifts taking place in Ethiopia, which are opening up new avenues for the growth of digital financial services.
Frehiwot Tamru emphasised the critical role of the Telebirr platform in enabling this transformation. She highlighted its extensive national reach, robust security infrastructure, and scalability—factors that have positioned Telebirr as a cornerstone of the country’s digital finance ecosystem.
Visa’s delegation expressed strong confidence in the trajectory of the collaboration, citing encouraging results from the initial phase of service deployment. Michael Berner underscored the vast market potential that remains untapped in Ethiopia’s digital finance space. He also stressed the importance of jointly developing new solutions that go beyond conventional financial systems, aiming to redefine the way people access and use financial services both locally and internationally.
As a key outcome of the meeting, Ethio Telecom and Visa agreed to establish a joint steering committee. This body will be tasked with identifying, designing, and implementing cutting-edge digital financial solutions tailored to Ethiopia’s needs. Its work will focus on expanding financial inclusion, fostering innovation, and contributing to the broader goal of building a digitally empowered society.
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The revitalised partnership aligns with Ethiopia’s national digital transformation strategy, underscoring both companies’ dedication to shaping the future of finance in the region. By combining Ethio Telecom’s local expertise and infrastructure with Visa’s global reach and digital payment capabilities, the collaboration is poised to unlock new opportunities for individuals and businesses across Ethiopia.
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