Dashen Bank has partnered with M-Pesa Safaricom and CashGo to launch a streamlined international remittance service, making it easier and more efficient for Ethiopians to send and receive money from abroad. The partnership, officially launched on February 5, 2025, integrates Dashen Bank’s financial infrastructure with M-Pesa’s mobile money platform and CashGo’s digital transfer technology.
The new service allows users to conveniently send and receive international money transfers directly through the CashGo mobile app using the M-Pesa network, reducing the complexities and costs associated with traditional remittance methods. Under the agreement, Dashen Bank will serve as the exclusive settlement and acquiring bank, handling remittance transactions received via CashGo. CashGo will provide the digital remittance platform that facilitates the transfer of funds, while M-Pesa Safaricom will ensure that customers can access their funds instantly through their M-Pesa mobile money accounts.
To celebrate the launch, Dashen Bank is offering a 10% additional markup on average exchange buying rates for a limited time. M-Pesa Safaricom is also providing one gigabyte of internet access to users of the new service.
Dashen Bank’s Chief Executive Representative and Chief Retail and MSME Officer, Yingalem Akanaw, highlighted the bank’s commitment to facilitating remittances and its contribution to Ethiopia’s socio-economic development. Dashen Bank’s Chief Digital and Information Officer, Yohannes Million, explained how the service simplifies international money transfers, enabling users to easily send and receive funds through the CashGo app and the M-Pesa option.
Elsa Muzollini, CEO of M-Pesa Safaricom, stated that the collaboration aligns with the company’s mission to promote financial inclusion and provide innovative digital financial solutions.
The collaboration between Dashen Bank, M-Pesa Safaricom, and CashGo is expected to significantly improve access to reliable and affordable international remittance services for millions of Ethiopians, allowing recipients to access their money instantly on their phones, enhancing financial accessibility and ease of use.
