Ethiopia and Visa Inc. explore financial collaboration

Addis Ababa, Apr 24 (Prensa Latina) The state-owned telecommunications company, Ethio Telecom, and Visa Inc. (VISA), of the United States, explored better opportunities for international digital financial services collaboration, Fana Broadcasting Corporation informed on Thursday.

April 24, 2025
09:26

The strategic meeting held on Wednesday was chaired by Ethio Telecom’s Chief Executive Officer, Frehiwot Tamru, and VISA’s Senior Vice President and Head of Southern and Eastern Africa (SEA), Michael Berner, the latter leading a delegation.

They analyzed the performance of Ethiopia’s first wallet-based Virtual Visa Card and enhanced remittance services through Visa Direct and Telebirr Remit, launched in August 2024.

They addressed the results of this initiative to date and the market’s growing potential, especially following recent macroeconomic reforms. They took into account customer feedback on remittance services aimed at further improving them.

Discussions also focused on leveraging the strengths of Ethio Telecom’s Telebirr platform alongside Visa Inc.’s extensive global network.

Tamru highlighted the application’s impressive reach, robustness, secure infrastructure, and capabilities.

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