botim Expands UAE-Ethiopia Financial Corridor with Commercial Bank of Ethiopia Partnership

(MENAFN- Atteline) * botim and CBE partnership set to boost secure money inflows from the UAE and expand access for over 200,000 Ethiopians living in the UAE
* The collaboration represents a significant milestone in cross-border financial services and a shared effort to further streamline remittance flows to Ethiopia

Dubai, UAE, 9 September 2025 – botim, Astra Tech’s flagship fintech-first platform in the MENA region, today announced a landmark partnership with the Commercial Bank of Ethiopia (CBE), the country’s largest bank, to deliver secure, convenient, and flexible remittance solutions for Ethiopians residing in the UAE. The collaboration marks botim's first direct banking partnership in Ethiopia, representing a significant milestone in cross-border financial services and a shared effort to further streamline remittance flows to Ethiopia.

botim users in the UAE can now transfer money directly to CBE accounts, any other bank in Ethiopia, send funds for cash pick-up at over 1,900 1950 CBE branches, Direct Account Credit or credit mobile wallets in Ethiopian birr. This initiative offers Ethiopian expats greater flexibility and improved access to digital financial solutions, while boosting remittance inflows that play a vital role in supporting Ethiopia’s economy.

“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,” said Dr. Tariq Bin Hendi, Board Member at Astra Tech and CEO of botim. “With over 8.5 million users in the UAE, we remain focused on connecting people in meaningful ways through communications and fintech innovation, while continuing to redefine how financial services bring communities closer together.”

Ethiopia received $5.1 billion in remittances during the first nine months of its 2024/2025 fiscal year alone. This move aligns seamlessly with Ethiopia’s broader macroeconomic turnaround, as the country’s foreign reserves more than doubled to $3.4 billion in early 2025, supported in part by strong remittance inflows.

Abi Sano Mehammed, President, Commercial Bank of Ethiopia 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. This collaboration is a testament to our promise to make a meaningful impact in the lives of our community within the country and abroad.”

H.E. Oumer Hussien Oba, Ambassador to Ethiopia commented on this partnership saying, “This partnership reflects the strong ties between Ethiopia and the UAE and underscores our shared commitment to progress and prosperity for our citizens. By supporting secure financial connectivity, it expands access to essential services, facilitates remittances, supports families, and contributes to Ethiopia’s broader economic development. It further highlights the growing cooperation between our two nations in advancing shared economic and social priorities.”

Ahmed Mourad, Chief Operating Officer 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.”

The signing ceremony, held in the presence of the Ethiopian Ambassador to the UAE, underscored the diplomatic and economic significance of this partnership, which comes at a pivotal time. As Ethiopians in the UAE prepare to celebrate Enkutatash, the Ethiopian New Year, the collaboration offers timely financial access and convenience. It also coincides with botim’s redesigned interface and upgraded payments experience, marking a step forward in its journey as an embedded finance platform.

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About botim

botim, part of Astra Tech's ecosystem, is the MENA region's leading fintech company headquartered in Abu Dhabi. Botim is a fintech-first, AI-native platform offering inclusive, user-centric solutions for financial services. Built on the foundation of being the UAE’s first free VoIP provider, Botim has evolved into a multi-layered ecosystem serving over 150 million users across 155 countries. 

Designed to meet the needs of MENA consumers, businesses, and communities, botim delivers integrated services with innovation, accessibility, and regulatory credibility at its core. botim is building the next generation of everyday finance and connectivity easier, smarter, and more inclusive for everyone.

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