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SantimPay has officially launched FrankRemit—a zero-fee remittance platform developed in partnership with Bank of Abyssinia. The platform stands out as the first in Ethiopia to integrate all commercial banks and major mobile money services, including Telebirr, M-Pesa, and CBE Birr.

FrankRemit is a homegrown fintech innovation, built in-house and tested rigorously over the past two weeks with successful transfers from multiple countries. This rollout ensures users experience fast, reliable, and secure money transfers right from the start.

The official launch event attracted high-level stakeholders from the public and private sectors, signaling the platform’s significance to Ethiopia’s economic ambitions. Among the attendees were Tinsae Desalegn, CEO of SantimPay; Fitsum Abegaz, Ambassador at the Ethiopian Embassy in Washington, D.C. and Director General of Diaspora Services at Foreign Ministry; Teferi Mekonnen, CEO of Oromia Bank; and Desalegn Yizengaw, Chief Customer Acquisition and Support at BoA.

“FrankRemit is the first platform to offer full integration across Ethiopia’s banking and mobile money landscape,” said Tinsae Desalegn. “We built this platform to address the frustrations of the diaspora and make sending money home effortless.”

The launch comes as Ethiopia nears one year since adopting a market-based exchange rate regime—a reform introduced in July 2024 to align the country’s forex operations with market realities. While sectors such as gold and coffee exports have flourished under this policy shift, remittance inflows still lag behind, according to Ambassador Fitsum Abegaz.

“FrankRemit is built to international standards and will help Ethiopia unlock greater remittance flows,” he said, emphasizing the platform’s strategic role in strengthening the country’s foreign currency position.

As part of its broader offerings, FrankRemit also introduces the FrankCard—a diaspora-focused gift card service developed in collaboration with Oromia Bank and Shoa Supermarket. This new feature allows members of the Ethiopian diaspora to send prepaid cards that can be redeemed locally, enabling direct support to families beyond traditional cash transfers.

 


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The Ethiopia Finance Forum 2025 officially opened yesterday at the Museum of Art and Science in Addis Ababa, gathering over 150 financial institutions, senior policymakers, and international experts to deliberate on the future of Ethiopia’s financial landscape.

During a high-profile panel on “Financial Inclusion and Deepening: Progress So Far and Priorities Ahead,” Abe Sano, President and CEO of the Commercial Bank of Ethiopia (CBE), offered a frank assessment of the bank’s efforts to broaden access to finance.

“Access to finance is something we should have done more about—especially for underserved communities,” Sano admitted. “We have long focused on empowering state-owned enterprises and major business clients, but we recognize the need to do more for individuals and MSMEs.” The CBE has yet to establish a presence in 270 woredas across the country.

Abe emphasized that while CBE currently serves about 140,000 personal borrowers and only 10,000 under commercial finance, the bank has financed over 782,000 customers with ETB 8.8 billion through digital channels. He added that CBE is not detached from digital transformation efforts like Telebirr: “We’re financiers behind those platforms as well.” 

Notably, Abe highlighted the bank’s recent digital financing initiative for farmers, which has onboarded more than 927,000 users in Oromia and disbursed ETB 14 billion in loans. In the housing sector, CBE financed 349,000 condominium units worth ETB 112 billion. However, he conceded that support for micro and small businesses remains limited, with just 9,000 MSME borrowers. “That’s an area we need to scale up significantly,” he stated.

On the savings front, CBE’s outreach to women has seen considerable success. “We now have over 8 million women savers, holding ETB 145 billion in deposits,” Sano revealed.

 


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In a bold stride toward digital economic transformation, Ethio Telecom has launched Zemen GEBEYA, Ethiopia’s first-ever national digital marketplace. This groundbreaking platform signals the country’s formal entry into e-commerce on a continental scale, with ambitions to redefine how businesses and consumers interact across Ethiopia’s diverse regions.

“Our legacy on African e-commerce is minimal due to the absence of a national platform,” remarked Frehiwot Tamiru, CEO of Ethio Telecom. “With Ethiopia being the second most populous country in Africa, Zemen GEBEYA is set to position us firmly on the digital commerce map of the continent.”

More than just a transactional space, Zemen GEBEYA is a full-fledged digital infrastructure. It aims to empower Micro, Small, and Medium Enterprises (MSMEs) by offering an inclusive, accessible online environment to scale their operations, reach new markets, and reduce overhead costs. From rural artisans to urban entrepreneurs, the marketplace is designed to democratize commerce and bring traditionally informal sectors into the digital economy.

Zemen GEBEYA’s launch builds on Ethio Telecom’s expansive digital ecosystem. With over 82.5 million telecom subscribers—45.7 million of whom use mobile broadband—and 33 million smartphone users, the groundwork for a thriving e-commerce platform is already in place. telebirr, the company’s mobile money service, boasts 52.5 million users and 7.5 million SuperApp users, having facilitated ETB 4.1 trillion in transactions to date, averaging ETB 7.6 billion daily.

These figures represent more than just technological access—they signal readiness. With 4G available in 835 cities and 5G already rolled out in 25, Ethio Telecom’s infrastructure is primed to support a national e-commerce revolution.

Zemen GEBEYA is offered as a mini app inside the telebirr SuperApp and includes a suite of integrated tools: a merchants’ portal and mobile app, consumer-facing interface, logistics management tools, a dispatcher app, and a system admin portal. This ecosystem is engineered to create smooth, transparent operations for buyers, sellers, and service providers.

Already, 42 businesses and logistics companies have joined the platform, showing early signs of momentum. Sellers can now manage inventories, reach customers directly, access digital payment tools, and benefit from marketing support—all within a centralized system.

Frehiwot emphasizes the platform’s security and credibility: “telebirr has never faced a security issue, and Zemen GEBEYA is built with the same robust infrastructure. Payments are only released to sellers once buyers confirm product satisfaction. Plus, with integration to the revenue authority, electronic tax receipts are recognized and compliant.”

One of the platform’s biggest value propositions is its role in formalizing Ethiopia’s vast, fragmented market system. For small producers, farmers, and artisans often locked into localized trade networks, Zemen GEBEYA opens a digital gateway to national and even global consumers.

The platform aligns with the goals of Digital Ethiopia 2025—promoting financial inclusion, digital literacy, and e-trade readiness. It’s expected to stimulate local production, encourage logistics innovation, and create jobs in both the digital and delivery sectors.

Zemen GEBEYA also promises real benefits for consumers. By cutting out intermediaries and enhancing price transparency, buyers can enjoy broader product access, reliable delivery, and competitive pricing. For underserved rural communities, this could mean access to goods and services once limited to urban centers.

Logistics providers, meanwhile, gain access to data-driven systems that can optimize routes and service quality. Ethio Telecom sees this as a key growth engine for both startups and established firms in the sector.




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