Botim, Astra Tech’s fintech-first platform in the Middle East and North Africa, has announced a partnership with the Commercial Bank of Ethiopia (CBE), to provide remittance services for Ethiopians living in the UAE.
This marks Botim’s first direct banking partnership in Ethiopia and a step forward in streamlining cross-border financial transactions.
Through the collaboration, Botim users in the UAE will be able to transfer money directly to CBE accounts or other banks in Ethiopia, send funds for cash collection at more than 1,900 CBE branches, credit accounts directly, or top up mobile wallets in Ethiopian birr.
The initiative aims to increase accessibility to digital financial services for Ethiopian expatriates while supporting the flow of remittances into the country.
“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 Chief Executive 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 US$5.1 billion in remittances during the first nine months of the 2024/2025 fiscal year.
The increase in inflows has coincided with an improvement in the country’s macroeconomic position, with foreign reserves doubling to US$3.4 billion in early 2025.
Abi Sano Mehammed, President of the Commercial Bank of Ethiopia, said:
“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.”
Featured image credit: Edited by Fintech News Middle East, based on image by starline via Freepik
