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Ethiopia's Dashen Bank turns to Thunes for cross-border payments

Source: Thunes

Thunes, a leading global payments network, today announced a partnership with Dashen Bank that makes it quicker and cheaper to send money to Ethiopia from around the world, directly to their bank accounts and Amole wallets.

Previously, customers making international money transfers and remittances to Ethiopia faced a slow, unreliable and expensive transaction process. Now, people can transfer money to Ethiopia instantly at more affordable rates using Thunes’ network of sending partners which operates in more than 100 countries.

For added convenience, customers and businesses in Ethiopia will be able to receive funds straight into their bank accounts or in real time into their Amole wallets - the mobile money solution from Dashen Bank.

The cross-border payment solution will boost financial participation in Ethiopia as more people are expected to open bank and Amole wallet accounts to receive easy overseas payments. The enhanced remittance service will also boost the inflow of much-needed foreign currency to the country’s economy, where funds sent from abroad are a vital lifeline for many communities.

“We are delighted to partner with Dashen Bank, one of Ethiopia’s leading banks. Thunes continues to invest in and grow our network in the world’s fastest growing economies. Our global partners can now give their customers enhanced access to this important corridor in Africa with faster and more convenient transfers. We look forward to working with more local players to simplify cross-border transfers for their customers,” said Andrew Stewart, Global Head of Networks at Thunes.

Asfaw Alemu, CEO of Dashen Bank, commented, “We are pleased to partner with Thunes, a trusted global leader in the cross-border payments landscape. This technology-powered solution gives Dashen Bank’s customers fast and convenient access to overseas funds via bank accounts and Amole mobile wallets. It’s another positive step
towards our goal of transforming Ethiopia’s financial services sector and delivering innovations to serve our customers’ needs better.”

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