Ethio telecom and Visa have reaffirmed their partnership to support the development of Ethiopia’s digital economy, focusing on international digital financial services.

At a meeting held on Thursday (April 24), Ethio telecom CEO Frehiwot Tamru met with Michael Berner, Senior Vice President and Head of South and Eastern Africa Regions at Visa.

The discussion centred on assessing existing projects and planning further collaboration, particularly following the launch of Ethiopia’s first wallet-based Virtual Visa Card and cross-border remittance services through Visa Direct and telebirr Remit in August 2024.

The two parties reviewed the performance of these services, including user adoption and feedback, and discussed the country’s current macroeconomic conditions, which may enable further growth in digital finance.

Frehiwot highlighted the reach and security of the telebirr platform.

Berner noted the potential for further development and stressed the need to co-develop new services to “break the boundary” of traditional financial systems.

Both sides agreed to establish a joint steering committee to explore and implement additional digital financial services.

The effort will also aim to improve access to financial tools and align with Ethiopia’s broader digital transformation plans.

Featured image credit: Ethio Telecom