Cooperative Bank Joins WorldRemit

Cooperative Bank of Oromia, a private commercial bank, has partnered with WorldRemit, a money transfer agent.

The partnership will digitize the cash transfers to Ethiopia from the diaspora community through an instant remittance service to its four million Cooperative Banks of Oromia accounts and 360 cash pick-up locations across the nation.

“Remittances are playing an increasingly large role in the growth of the Ethiopian economy and the livelihoods our people,” says Ahmed Hassan, vice president of corporate banking.

Ethiopia has a two-million strong diaspora community living in 50 countries including the United States, the United Kingdom, Australia and Canada. In the 2016/17 fiscal year, the state received nearly four billion dollars in remittances.