New possibilities for digital finance and international money transfers are on the horizon for Ethiopians, following a strategic meeting between Ethio telecom and global payments giant Visa Inc. The high-level talks focused on identifying fresh collaboration opportunities to bolster these crucial services.
Ethio telecom CEO Frehiwot Tamru welcomed a delegation headed by Michael Burner, Vice President and Head of Southern and East Africa Regions at Visa Inc.
A key part of the discussion involved reviewing the current state of international remittance services, including those accessed via the country's first Wallet Virtual Visa Card, Visa Direct, and the Telebirr Remit service.
The encouraging performance of existing remittance services, coupled with the expanding market opportunities driven by national macroeconomic reforms and increasing customer needs, is spurring ongoing enhancements in international remittance offerings.
CEO Frehiwot emphasized Telebirr's vital contribution to creating an inclusive and easily accessible digital economy in Ethiopia. She highlighted the potential for delivering innovative new digital finance services through continued partnership with Visa International.
The visiting Visa Inc. delegation, led by Burner, commended the success of their joint initiatives to date. They also pointed out the substantial untapped potential within the Ethiopian market, urging its further development.
In a move towards tangible progress, Ethio telecom and Visa agreed to form a joint team. This collaborative group will dedicate efforts to exploring future opportunities, aiming to significantly advance financial inclusion and nurture a vibrant digital finance culture across Ethiopia.