Awash Bank Launches Three Digital Apps, Targets $7.1 Billion Remittance Market with MasterCard Partnership

EBR_News Mar 13, 2026

By Betegbar Yaregal

Awash Bank has unveiled three new digital applications today at Skylight Hotel, significantly expanding its digital service portfolio with a strategic focus on capturing Ethiopia’s estimated $7.1 billion annual remittance market through a new partnership with MasterCard.

CEO Tsehay Shiferaw, addressing the launch event, stated that updating services and developing convenient platforms remains the bank’s constant mission. “In the future, we will continue to provide our bank’s customers, whose number and demand are constantly increasing, with modern digital services in addition to regular banking services,” he said.

The flagship launch, Awash Remit, is a mobile money transfer platform designed specifically for Ethiopians living abroad and foreign nationals of Ethiopian origin. The app enables fast and secure transfers to friends and family, allowing senders to deposit funds directly into Awash Bank accounts, Awash Birr Pro Wallets, or enable recipients to withdraw cash from branches using Visa or MasterCard.

Elfaged Aregahegn, MasterCard Vice President for Somalia, Sudan, and Ethiopia, emphasized the critical role of remittances in the national economy. “Ethiopia is the home of 130 million people with an estimated over 60 million Ethiopians living and working abroad. Remittances are approximately $7.1 billion annually, supporting daily lives, education, health care, and small businesses,” he said.

Elfaged noted that traditional remittance channels have been costly, slow, and fragmented, often driving senders toward informal, less reliable options. “There is a clear need for digital solutions that are secure and affordable. That’s why Awash is launching this today. We are proud to be a strategic collaborator,” he stated, explaining that MasterCard’s global money movement platform ensures secure, transparent cross-border transfers.

Awash E-Ticketing replaces paper tickets with QR codes for events including concerts, conferences, sports events, and religious gatherings. The platform provides organizers with transparent, documented, and verifiable transaction records, simplifying management for both organizers and attendees.

Awash E-Property Management transforms traditional rental administration into a fully digital system, handling building management and financial monitoring. The app manages floor plans, basement areas, residential spaces, and parking allocations while tracking contractual agreements and lease periods between tenants and landlords.

The bank reported that payments made through its digital systems between July and December 2025 exceeded one trillion birr, reflecting growing adoption of electronic payment channels. Awash Bank has been working with multiple government and non-government service providers on digital payment integration, achieving what officials described as “excellent results.”

The three new applications join Awash Bank’s expanding digital ecosystem, which includes existing platforms like Awash Birr Pro and various online banking services. The bank has been steadily investing in digital infrastructure to meet rising customer demand for technology-enabled banking solutions.