To support the development of inclusive finance and innovative digital financial solutions in Ethiopia, Ethio telecom, the Ethiopian telecommunications corporation, has partnered with global payments giant, Visa.
The partnership aligns with Ethiopia’s national digital transformation agenda and reflects the shared ambition of Ethio telecom and Visa to shape the country’s digital economy through developed financial services.
In a high-level strategic meeting, Ethio telecom CEO, Frehiwot Tamru, welcomed a Visa delegation led by Michael Berner, senior vice president and head of south and eastern Africa regions. The dialogue centred on strengthening the partnership between the two organisations, particularly following the successful launch of Ethiopia’s first wallet-based Virtual Visa Card and the introduction of cross-border remittance services through Visa Direct and telebirr Remit in August 2024.
The two sides reviewed the current performance of these services, including user adoption and customer feedback, as well as Ethiopia’s evolving macroeconomic landscape, which has presented new growth opportunities in digital finance. Tamru highlighted the scalability and security of the telebirr platform, which has already demonstrated exceptional nationwide reach.
Berner and the Visa team acknowledged the promising results of existing collaborations and emphasised the significant market potential yet to be tapped. They stressed the importance of co-developing new international services to “break the boundary” of traditional financial systems and advance the digital economy.
As a result of the discussion, both parties agreed to establish a joint steering committee to identify and implement innovative digital financial solutions. The initiative will also aim to enhance financial inclusion and support the broader vision of a digitally empowered Ethiopian society.
