Africa-focused payments giant Flutterwave has partnered with Amole, Ethiopia’s largest mobile Digital Wallet platform to make diaspora remittances easier for over 8million Ethiopians in Diaspora that remit over USD $5 billion annually to Ethiopia.
Amole was created by Ethiopia’s Dashen Bank and payments platform Moneta Technologies in 2018. Amole offers its customers digital payment capabilities and access to digital products and services to enable users to complete essential transactions at their convenience
With this partnership, Ethiopians in diaspora can send money through the Flutterwave network directly into an Amole digital wallet, a bank account, or to a cash pickup location at over 2,500 locations across the country.
Currently the remittance service in Ethiopia is expensive, with manual paperwork and fraught with delays making it challenging and time consuming. So this new collaboration will reduce the manual intervention and enable instant delivery of funds to the receiver at no fee, with more control of where and how to send money, including transparency from a regulatory standpoint.
Speaking on the partnership, Flutterwave Founder & Chief Executive Officer Olugbenga ‘GB’ Agboola, said: “We are delighted to be collaborating with Amole to enable digital remittances and cash pickup into Ethiopia. This is another significant milestone for payments in Africa as we work together to bridge the financial inclusion gap in the country and across the continent. Our collaboration will ensure that Ethiopian businesses are getting paid from all over the world, opening massive opportunities for business growth, a goal we are passionate about. This is just the beginning, and we hope to deepen the discussions around our partnership to the benefits of Africans, everywhere.”
Asfaw Alemu, CEO of Dashen Bank, said: “We are happy to partner with Flutterwave in delivering crucial forex that will support both our customers and Ethiopia. This partnership will play an important role in delivering even more value to our diaspora community, linking them to their country with more opportunities for global eCommerce in the near future.”
Yemiru Chanyalew, CEO Moneta Technologies, SC – said: “We are very excited to work with Flutterwave and leverage our combined technologies to broaden our offering to the Ethiopian Diaspora community, our customers and merchants to enable cross-border remittance and commerce. At Amole, we are increasingly focused on cashless and eCommerce payments. Our combined efforts in enabling seamless and interoperable remittance and eCommerce payments will drive much desired financial inclusion in Ethiopia.”
Flutterwave is on an aggressive drive to expand its growth in the payments across the continent. It recently partnered with global payment giant, PayPal to allow African merchants accept and make payments through its “Pay with PayPal” feature. It also recently announced its partnership with FIS to expand Worldpay, its payment processing platform into the rapidly growing markets of South Africa and Nigeria.
