Ethiopian medium-sized lender Wegagen Bank has entered into a partnership with global money transfer firm WorldRemit to offer digital money transfer service to Ethiopian customers.
The partnership will target more than three million Ethiopians in Diaspora in over 50 countries to send money home to over 1.2 million Wegagen Bank account holders. Wegagen Bank has about 335 branches across Ethiopia.
“This new partnership will further expand WorldRemit’s reach in Ethiopia, and help Ethiopian Diaspora communities worldwide connect with family and friends back home.” noted Sharon Kinyanjui, Head of East and Central Africa at WorldRemit.
World Remit offers innovative ways for the unbanked across the world to receive money, including bank account transfer, cash pickup and mobile money. Around 70% of WorldRemit transfers are sent from the mobile app.