Botim, Astra Tech’s fintech platform, companions with the Business Financial institution of Ethiopia (CBE), the nation’s largest financial institution, to offer remittance options for Ethiopians residing within the United Arab Emirates. The collaboration marks Botim’s first direct banking partnership in Ethiopia and goals to streamline remittance flows between the 2 international locations.
The partnership permits Botim customers within the UAE to switch cash on to CBE accounts, ship funds to some other financial institution in Ethiopia, and credit score cellular wallets in Ethiopian birr. Moreover, customers can ship funds for money pick-up at greater than 1,950 CBE branches. The initiative is designed to supply Ethiopian expatriates, who quantity over 200,000 within the UAE, higher flexibility and entry to digital monetary options.
Supporting a key remittance market
Remittances are a significant factor of Ethiopia’s economic system. The nation reportedly obtained $5.1billion in remittances throughout the first 9 months of its 2024/2025 fiscal 12 months. These inflows have contributed to a broader financial turnaround, with the nation’s international reserves greater than doubling to $3.4billion in early 2025.
Dr. Tariq Bin Hendi, a board member at Astra Tech and CEO of Botim, commented: “Remittances are a lifeline for a lot of expat communities within the UAE, and our partnership with the Business Financial institution of Ethiopia displays our dedication to delivering safe, seamless cross-border monetary options. With over 8.5million customers within the UAE, we stay centered on connecting individuals in significant methods by way of communications and fintech innovation.”
Abi Sano Mehammed, president of the Business Financial institution of Ethiopia, additionally acknowledged: “On the Business Financial institution of Ethiopia, our dedication to serving Ethiopians all around the world has at all times been on the coronary heart of our mission. By partnering with a platform deeply embedded within the every day lives of the UAE’s neighborhood, we aren’t solely making monetary providers extra accessible but additionally reinforcing the financial and cultural connection between Ethiopia and the UAE.”
Diplomatic and strategic significance
The partnership was formalised at a signing ceremony attended by the Ethiopian ambassador to the UAE, H.E. Oumer Hussien Oba, who commented on the collaboration’s significance. “This partnership displays the sturdy ties between Ethiopia and the UAE and underscores our shared dedication to progress and prosperity for our residents,” he mentioned. “By supporting safe monetary connectivity, it expands entry to important providers, facilitates remittances, helps households, and contributes to Ethiopia’s broader financial growth.”
The announcement is timed as Ethiopians within the UAE put together to rejoice Enkutatash, the Ethiopian New Yr, providing well timed monetary entry. It additionally coincides with a redesign of Botim’s interface and an upgraded funds expertise, a part of its ongoing growth as an embedded finance platform.
Ahmed Mourad, chief working officer at Botim, added: “This partnership is a vital milestone in our mission to develop Botim’s monetary ecosystem and ship inclusive options that meet the wants of the varied diaspora right here within the U.A.E. By working with the Business Financial institution of Ethiopia, we’re enabling higher monetary entry, supporting remittances, and creating new alternatives to strengthen cross-border connections.”
