Ethiopia-based Dashen Bank has partnered with Singapore-headquartered cross-border payments platform Thunes to increase the ease of sending international payments to Ethiopia.

Dashen Bank will leverage Thunes’ network of payment partners, which operates across more than 100 countries, to offer instant and affordable cross-border payment services, the press release said.

Previously, sending cross-border payments to Ethiopia was a slow, unreliable, and expensive process. This partnership will enable Dashen Bank customers to transfer money to Ethiopia from across the world directly to their bank accounts and Dashen’s Amole wallets.

The cross-border payment solution is expected to improve financial participation in Ethiopia as more people open bank and Amole wallet accounts to receive easy overseas payments.

The enhanced remittance service will also amplify the inflow of much-needed foreign currency in Ethiopia, where foreign funds are a crucial lifeline for many communities.

Andrew Stewart, Global Head of Networks at Thunes said,

“We are delighted to partner with Dashen Bank, one of Ethiopia’s leading banks. Thunes continues to invest in and grow our network in the world’s fastest-growing economies. Our global partners can now give their customers enhanced access to this important corridor in Africa with faster and more convenient transfers.”

Asfaw Alemu, CEO of Dashen Bank, said,

“We are pleased to partner with Thunes, a trusted global leader in the cross-border payments landscape. This technology-powered solution gives Dashen Bank’s customers fast and convenient access to overseas funds via bank accounts and Amole mobile wallets. It’s another positive step towards our goal of transforming Ethiopia’s financial services sector and delivering innovations to serve our customers’ needs better.”

Featured image: Edited from Unsplash