Dubai - Mubasher: Astra Tech’s flagship fintech-first platform in MENA botim has signed its first direct banking partnership in Ethiopia with the Commercial Bank of Ethiopia (CBE).
The partnership aims to facilitate remittance flows from the UAE to Ethiopia, according to a press release.
Under the partnership, botim users in the UAE will send money directly to CBE accounts, other local banks, mobile wallets, or for cash pick-up at more than 1,900 of the lender’s branches.
The initiative is designed to provide Ethiopian expatriates with greater convenience and flexibility while strengthening remittance inflows to Ethiopia.
Tariq Bin Hendi, Board Member at Astra Tech and CEO of botim, stated: “Remittances are a lifeline for many expat communities in the UAE, and our partnership with the Commercial Bank of Ethiopia reflects our commitment to delivering secure, seamless cross-border financial solutions.”
Abi Sano Mehammed, President, Commercial Bank of Ethiopia, commented: “By partnering with a platform deeply embedded in the daily lives of the UAE’s community, we are not only making financial services more accessible but also reinforcing the economic and cultural connection between Ethiopia and the UAE.“
Oumer Hussien Oba, Ambassador to Ethiopia, added: “By supporting secure financial connectivity, it expands access to essential services, facilitates remittances, supports families, and contributes to Ethiopia’s broader economic development.”
Ahmed Mourad, the COO of botim, concluded: “By working with the Commercial Bank of Ethiopia, we are enabling greater financial access, supporting remittances, and creating new opportunities to strengthen cross-border connections.”
During the first nine months (9M) of the fiscal year (FY) 2024/2025, Ethiopia received $5.10 billion in remittances, while the foreign reserves leapt by more than 100% to $3.40 billion in early 2025.
