Safaricom Ethiopia, CBE sign Partnership Agreement

Safaricom Ethiopia, CBE sign Partnership Agreement

ADDIS ABABA – Safaricom Ethiopia, the first private telecom firm in the country, has entered into a strategic partnership agreement with the Commercial Bank of Ethiopia (CBE) today.

The telco said the MoU outlines a strategic partnership to utilize the potential of the two institutions’ capacities and enhance CBE’s financial service delivery to contribute to Ethiopia’s digital financial inclusion.

The bank, the richest financial entity in Ethiopia with a total assets value of 1.23 trillion Birr, has more than 38 million customers.

“As we continue to work towards improved customer experience through digital innovation by enhancing digital payment platforms, we look forward to our partnership with Safaricom Ethiopia to build our capacity with modern technology and connectivity,” CBE’s President Abie Sano said at the signing event.

The agreement now provides Safaricom customers additional options to top up airtime via the CBE Mobile Banking application, and USSD (889#), CBE Birr USSD (847#) at no service charge.

“We are excited to partner with CBE and expand our collaboration with financial institutions in Ethiopia,” CEO Anwar Soussa said.

The MoU, he said, would also enable Safaricom Ethiopia “to meet the demands of the market and further innovate to fit the digital lifestyles of our customers.”

Apart from CBE, the new entrant to the Ethiopian telecom industry has availed similar services through the Abyssinia Bank, Bank Awash, and NIB International Bank in the past month.

Featured Image: Safaricom Ethiopia’s CEO Anwar Soussa (R) and President of CBE Abie Sano signed the MoU on Friday, March 3, 2023.