Ethio Telecom and Visa have established a joint committee to discuss the expansion of digital financial services, review the progress of remittances, and promote innovation.
Ethio Telecom CEO Frehiwot Tamru organized a strategic meeting with a delegation of Visa Inc. led by Michael Berner, Senior Vice President of the South and East Africa region and Regional Head of Africa, to explore expanded collaboration opportunities for international digital financial services.
During the discussion, the performance of the country's first wallet-based virtual visa card and enhanced remittance service via Visa Direct and Telebirr Remit, launched in August 2024, was reviewed.
The discussion covered the performance of these services and the potential for growing markets, particularly following recent macroeconomic reforms. Customer feedback regarding the money transfer services launched is also analyzed and is intended to further strengthen it based on the feedback.
The discussion also focuses on leveraging the strengths of Ethio Telecom's Telebirr platform, along with Visa Inc.'s extensive global network. CEO Frehiwot highlighted the impressive reach of Television, along with robust and secure infrastructure and capabilities.
Recognizing the success of past collaborations, the Visa Inc. delegation highlighted the important undeveloped possibilities of the market. They advocated the introduction of innovative international services and emphasized the need to “break the boundaries.”
Finally, the parties have pledged to explore additional areas of collaboration, significantly strengthen innovative digital financial solutions, improve financial inclusion, and establish a joint steering committee to nurture Ethiopia's digital society.
