Dashen Joins WorldRemit Network

WorldRemit, a digital money transfer service, has partnered with Dashen Bank to provide instant-money transfer services throughout Ethiopia.

The partnership is expected to enable the Ethiopian diaspora to transfer money to Dashen customers spread across the bank’s network of 370 branches using WorldRemit’s smartphone application or website. Dashen is the fifth bank to partner with WorldRemit along with Commercial Bank of Ethiopia, Abay, Nib and Awash banks.

This deal supports WorldRemit’s plan to serve 10 million customers in the emerging market by 2020, according to a statement.

Ethiopia has a two-million strong diaspora community living in 50 countries including the United States, the United Kingdom, Australia and Canada. Reports show that 80pc of remittances are coming through informal and unregulated channels. In the 2016/17 fiscal year, the country received nearly four billion dollars in remittances.

Published on Aug 18,2018 [ Vol 19 ,No 955]



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