Botim, Astra Tech’s fintech platform, partners with the Commercial Bank of Ethiopia (CBE), the country’s largest bank, to provide remittance solutions for Ethiopians residing in the United Arab Emirates. The collaboration marks Botim’s first direct banking partnership in Ethiopia and aims to streamline remittance flows between the two countries.
The partnership enables Botim users in the UAE to transfer money directly to CBE accounts, send funds to any other bank in Ethiopia, and credit mobile wallets in Ethiopian birr. Additionally, users can send funds for cash pick-up at more than 1,950 CBE branches. The initiative is designed to offer Ethiopian expatriates, who number over 200,000 in the UAE, greater flexibility and access to digital financial solutions.
Supporting a key remittance market
Remittances are a significant component of Ethiopia’s economy. The country reportedly received $5.1billion in remittances during the first nine months of its 2024/2025 fiscal year. These inflows have contributed to a broader economic turnaround, with the country’s foreign reserves more than doubling to $3.4billion in early 2025.
Dr. Tariq Bin Hendi, a board member at Astra Tech and CEO of Botim, commented: “Remittances are a lifeline for many expat communities in the UAE, and our partnership with the Commercial Bank of Ethiopia reflects our commitment to delivering secure, seamless cross-border financial solutions. With over 8.5million users in the UAE, we remain focused on connecting people in meaningful ways through communications and fintech innovation.”
Abi Sano Mehammed, president of the Commercial Bank of Ethiopia, also stated: “At the Commercial Bank of Ethiopia, our commitment to serving Ethiopians all over the world has always been at the heart of our mission. By partnering with a platform deeply embedded in the daily lives of the UAE’s community, we are not only making financial services more accessible but also reinforcing the economic and cultural connection between Ethiopia and the UAE.”
Diplomatic and strategic significance
The partnership was formalised at a signing ceremony attended by the Ethiopian ambassador to the UAE, H.E. Oumer Hussien Oba, who commented on the collaboration’s importance. “This partnership reflects the strong ties between Ethiopia and the UAE and underscores our shared commitment to progress and prosperity for our citizens,” he said. “By supporting secure financial connectivity, it expands access to essential services, facilitates remittances, supports families, and contributes to Ethiopia’s broader economic development.”
The announcement is timed as Ethiopians in the UAE prepare to celebrate Enkutatash, the Ethiopian New Year, offering timely financial access. It also coincides with a redesign of Botim’s interface and an upgraded payments experience, part of its ongoing development as an embedded finance platform.
Ahmed Mourad, chief operating officer at Botim, added: “This partnership is an important milestone in our mission to expand Botim’s financial ecosystem and deliver inclusive solutions that meet the needs of the diverse diaspora here in the U.A.E. By working with the Commercial Bank of Ethiopia, we are enabling greater financial access, supporting remittances, and creating new opportunities to strengthen cross-border connections.”
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