ADDIS ABABA – Dashen Bank has partnered Ecobank, a Pan-African Banking Group, to enable Ethiopians living in the diaspora, specifically Europe, send money to their home country using Ecobank’s Rapidtransfer International app (RTI).
The cross-border remittance solution app which is available in the rest of Ecobank’s 33 countries, enables the African diaspora residing in Europe to remit funds back to African nations, including Ethiopia seamlessly.
Ecobank Ethiopia Country Representative, Dr. James Kanagwa said “we are glad to partner with Dashen Bank to empower Ethiopians living in the European-based diaspora countries such as the United Kingdom, France, Italy, the Netherlands and 21 other European countries with access to our Rapid Transfer International app.”
Users of RTT are able to send money back home at an average fee of 1.5 percent of the funds being remitted.
They will also know the transparent foreign exchange rate prior to making a transaction and can choose to send funds directly to Dashen Bank accounts, walle, cash-pick up, and same-day delivery to other commercial bank accounts.
“Our partnership with Ecobank enables us to reach out to the Ethiopian diaspora in Europe to provide them with a new, reliable, low cost and convenient way to send money for their families and relatives back home in Ethiopia through the RTI app,” Dashen Bank’s CEO Asfaw Alemu said.
In 2017, it was estimated that the Ethiopian Diaspora comprised a significant population of at least two million individuals, primarily residing in Europe and North America.