cbe

USD
131.5086
134.1388
,
GBP
174.4955
177.9854
,
EUR
149.8277
152.8243
,
CHF
156.9823
160.122
,
SEK
13.4396
13.7084
,
NOK
12.8108
13.0671
,
DKK
19.7202
20.1146
,
DJF
,
JPY
0.8912
0.909
,
CAD
94.2697
96.1551
,
SAR
35.069
35.7703
,
AED
35.809
36.5252
,
INR
,
KES
,
AUD
83.7181
85.3925
,
ZAR
,
CNY
17.9542
18.3133
,
KWD
420.8198
429.2362

awash

USD
134.3284
137.015
,
GBP
182.8999
186.5579
,
EUR
156.3001
159.4261
,
JPY
0.7944
0.8103
,
SAR
32.3255
32.972
,
AED
33.0163
33.6766
,
CAD
87.636
89.3887
,
CHF
145.6863
148.6
,
NOK
10.8911
11.1089
,
DKK
17.624
17.9765
,
SEK
,
DJF
,
INR
,
KES
,
AUD
,
ZAR
,
CNY

abyssinia

USD
134.385
137.0727
,
GBP
181.9681
185.6075
,
EUR
155.8784
158.996
,
AED
36.5902
37.322
,
CHF
168.6982
172.0722
,
SEK
14.1354
14.4181
,
NOK
13.3103
13.5765
,
CAD
98.5733
100.5448
,
SAR
35.8331
36.5498
,
CNY
18.7312
19.1058

abay

USD
134.4067
137.0949
,
GBP
182.8066
186.4627
,
EUR
157.6457
160.7986
,
AED
36.5892
37.321
,
ZAR
7.5797
7.7313
,
SAR
35.837
36.5538
,
JPY
0.9238
0.9422
,
CHF
168.5351
171.9058
,
AUD
87.3106
89.0568
,
CNY
18.7366
19.1113

zemen

CAD
98.4091
100.3773
,
EUR
155.998
159.118
,
GBP
173.9501
177.4291
,
SEK
14.1391
14.4219
,
USD
134.4019
137.0899

buna

USD
134.4519
137.1409
,
EUR
156.3035
159.4296
,
GBP
182.2025
185.8466
,
AED
36.192
36.9158
,
SAR
35.7075
36.4217
,
CAD
94.006
95.8861
,
AUD
64.239
65.5238
,
JPY
0.94
0.9588

nib

USD
134.3771
137.0647
,
GBP
182.7663
186.4217
,
EUR
157.6109
160.7632
,
CHF
168.498
171.8679
,
CAD
98.3223
100.2888
,
AED
36.5811
37.3128
,
SAR
35.8291
36.5457

berhan

wegagen

USD
134.3127
136.9991
,
GBP
183.0816
186.7433
,
EUR
157.7101
160.8643
,
CHF
168.6565
172.0297
,
SEK
14.1297
14.4123
,
CNY
18.7232
19.0977
,
JPY
0.9133
0.9316
,
AED
36.5733
37.3048

dgb

USD
132.0724
134.7138
,
EUR
148.5321
151.5027
,
GBP
167.2316
170.5762
,
CHF
130.8214
133.4378
,
SAR
29.9468
30.5457
,
AED
35.8921
36.6099
,
CAD
79.1617
80.7449

enat

USD
133.2192
135.8836
,
EUR
150.9515
153.9705
,
GBP
175.7216
179.236

ahadu

USD
134.2162
136.9005
,
GBP
180.1432
183.7461
,
EUR
154.5012
157.5912
,
CAD
94.4677
96.3514
,
SAR
35.0504
35.7514
,
AED
35.7909
36.5067

addis

USD
134.572
137.2634
,
EUR
158.0003
161.1603
,
GBP
184.1205
187.8029
,
SAR
35.8801
365977
,
CHF
168.4888
171.8586
,
AED
36.6402
37.373
,
KWD
0
0

dashen

USD
134.4989
137.1889
,
EUR
156.0187
159.1391
,
GBP
181.5735
185.205
,
CAD
87.962
89.7212
,
AED
33.1387
33.8014
,
SAR
32.4452
33.0941
,
CNY
16.8602
17.1974

oromia

USD
134.425
137.1135
,
GBP
177.1184
180.6607
,
EUR
148.9295
151.908
,
CHF
168.558
171.9291
,
SAR
35.8419
36.5587
,
AED
36.5942
37.326

lion

USD
134.0414
136.7222
,
GBP
180.27
183.8754
,
EUR
154.9538
158.0529

developmentbank

USD
132.3534
135.0005
,
GBP
180.6227
184.2351
,
EUR
155.8991
159.0171
,
CHF
166.7339
170.0686
,
SEK
13.8554
14.1325
,
NOK
13.1465
13.4094
,
DKK
20.8944
21.3123
,
DJF
0.7413
0.7561
,
JPY
0.9168
0.9352
,
CAD
97.376
99.3235
,
SAR
35.2895
35.9953
,
AED
36.0302
36.7508
,
INR
1.5492
1.5802
,
KES
1.0228
1.0433
,
AUD
86.7841
88.5198
,
SDR
182.1845
185.8281
,
ZAR
7.5184
7.6687
,
CNY
18.4784
18.848
,
KWD
433.2324
441.897

coop

USD
134.2806
136.9662
,
GBP
181.331
184.9576
,
EUR
155.4649
158.5742
,
AED
34.994
35.6938
,
SAR
34.2674
34.9528

gadaa

USD
134.1095
136.7917
,
GBP
165.8019
169.1179
,
EUR
158.0191
161.1795
,
AED
33.7659
34.4412
,
SAR
33.0073
33.6674
,
CHF
134.1436
136.8265

hijra

USD
134.0024
136.6825
,
EUR
152.5299
155.5805
,
GBP
177.3056
180.8518
,
SAR
36.1163
36.8386
,
AED
36.8772
37.6148

amhara

USD
134.6599
137.3531
,
GBP
184.8746
188.5721
,
EUR
157.7541
160.9092
,
CAD
98.6086
100.5808
,
AED
36.6691
37.4025
,
SAR
35.9055
36.6236

tsehay

USD
132.9499
135.6089
,
GBP
169.2591
172.6443
,
EUR
148.935
151.9137
,
CAD
89.6864
91.4801
,
SAR
33.3311
33.9977
,
AED
34.0606
34.7419
,
AED

tsedey

USD
134.2875
136.9732
,
EUR
158.1772
161.3408
,
GBP
183.2621
186.9274
,
AED
36.5567
37.2879
,
CHF
169.1704
172.5538
,
SEK
14.0578
14.339
,
NOK
13.3386
13.6054
,
DKK
21.1997
21.6237
,
DJF
0.7521
0.7671
,
INR
1.5719
1.6033
,
JPY
0.9302
0.9488
,
CAD
98.7989
100.7749
,
SAR
35.8052
36.5213
,
ZAR
7.6282
7.7808
,
CNY
18.7484
19.1234
,
KWD
439.5632
448.3545
,
KES
1.0378
1.0585

siinqee

USD
134.08
136.7616
,
EUR
157.015
160.1553
,
GBP
181.7173
185.3516
,
SAR
23.1262
23.5887
,
CHF
123.4786
125.9482
,
AED
36.3332
37.0599

hibret

USD
134.0001
136.6801
,
GBP
176.1027
179.6248
,
EUR
156.2897
159.4155
,
AED
36.4785
37.2081
,
CAD
98.5875
100.5593
,
CNH
18.7083
19.0825
,
CHF
148.0209
150.9813

gohbetoch

USD
134.4805
137.1701
,
EUR
154.7271
157.8216
,
GBP
179.5016
183.0917
,
AED
36.0874
36.8105

zamzam

USD
132
134.64
,
GBP
177.072
180.6134
,
AED
36.2533
36.9784
,
EUR
149.748
152.743
,
SAR
35.3367
36.0434
,
CAD
95.625
94.5375
,
CHF
160.185
163.3887

nbe

JPY
0.9382
0.9476
,
KWD
443.3502
447.7837
,
CNY
18.9099
19.099
,
ZAR
7.694
7.7709
,
XDR
186.4392
188.3036
,
EUR
159.54
161.1354
,
AED
36.8717
37.2404
,
SAR
36.1137
36.4748
,
AUD
88.8109
89.699
,
CAD
99.6501
100.6466
,
USD
135.4444
136.1459
,
KES
1.0467
1.0781
,
INR
1.5854
1.6013
,
DJF
0.7586
0.7813
,
DKK
21.3824
21.5962
,
NOK
13.4535
13.588
,
SEK
14.1789
14.3207
,
CHF
170.6279
172.3341
,
GBP
184.841
186.6894

binance

USDT
160.89
160.34

Safaricom has signed an agreement to provide the M-Pesa service in collaboration with Union Bank

 

M-Pesa

 

 

Safaricom M-Pesa Mobile Financial Services Private Limited Liability Company, which recently received a license from the National Bank of Ethiopia to provide digital banking services, signed an agreement to work with United Bank.

On July 31, 2023, Safaricom Ethiopia signed an agreement to cooperate with United Bank in Ethiopia to use its M-Pesa digital banking service, which it has expanded in Kenya and eight other countries.

According to this agreement, Safaricom’s M-Pesa service will enable its customers to withdraw and deposit money using United Bank branches.

United Bank acts as Safaricom M-Pesa’s top agent, and it has been stated that they have completed the necessary infrastructure for this service.

 

What is the reflect of union Bank on the signed agreement and M-Pesa service ?

Regarding the agreement United Bank CEO Melaku Kebede stated that the agreement reached between Safaricom and United Bank will allow for the provision of complete M-Pesa services, thereby enabling the provision of small loans in addition to the usual services of depositing and withdrawing money using the bank’s branches.

Safaricom M-Pesa brings new services to the industry, so the agreement will enable the bank’s customers to easily use these new services, according to Mr. Melaku. Safaricom’s wallet account customers will also be able to access the services provided by United Bank Mobile Banking, according to the explanation given in the agreement.

M-Pesa’s wallet account has a service where customers can deposit and transfer money only through mobile phones, so it will create an opportunity for them to work together, Mr. Melaku said.

Currently, more than one million United Bank customers use mobile services, so it is said that it will help the bank’s customers to get more services through M-Pesa.

This agreement is specifically for mobile banking and agent banking services. Since Safaricom is ready to provide a wide range of digital financial services in Ethiopia, its agreement with United Bank will help achieve this plan. But above all, the agreement of the two companies will contribute significantly to expanding access to finance in Ethiopia and reaching areas without access to finance and it is believed to bring about a positive change in the country’s financial industry.

Mr. Melaku, who gave a further explanation regarding the potential importance in terms of access to finance, explained that, for example, if there is no bank branch in a rural town, it is possible to provide financial services through M-Pesa agents.

He also mentioned that various shops and similar commercial establishments will be an agent of Safaricom’s M-Pesa service, which will create an opportunity for them to earn extra income besides their regular work.

The chief executive explained that it is possible to expand the reach of the bank by using M-Pesa agents in areas where the bank does not have branches. In this regard, M-Pesa is expected to be implemented in Ethiopia, which was successful in Kenya.

Referring to the agreement, the Interim Manager of Safaricom M-Pesa, Mr. Paul Kavavu, stated that the agreement with United Bank is strategic.

He said that they will be able to provide digital banking services to their customers and allow them to deposit and withdraw money from any branch of United Bank. He also mentioned that they will expand M-Pesa services by making such agreements with other financial institutions.

Mr. Melaku mentioned that M-Pesa has more than 100,000 agents in Kenya, and the work they do in Ethiopia is similar in terms of expanding access to finance. Even in rural areas where it is not possible to open a branch, agents can be created to replace the branches and provide the service.

“We have operated 475 branches for the past 25 years,” said Mr. Melaku, adding that it is impossible to open branches and install ATMs in all rural areas of the country. Therefore, the proliferation of these agents may change the focus on branching.

Explaining that it is a good example that the number of agents in Kenya is increasing, opening a branch is a good example.

It is said that these agents will easily do the work of receiving and giving money where the branches are located.

Therefore, in terms of expanding agents, since Safaricom has been doing a lot since the beginning and has created thousands of agents, it can be understood from the explanation given that the Ethiopian service is expected to be effective.

It is said that the expansion of agents will be especially preferable in terms of providing small loans and will expand the credit services that few have received.

“Financial access is a citizen’s right,” said Mr. Melaku, but this type of network is expanding not only Safaricom but also Ethio Telecom, and it will greatly expand financial access.

The executive did not pass without mentioning Both Safaricom and Ethio Telecom are required to produce hundreds of thousands of agents.

Ato Melaku mentioned that most of the seven main pillars of United Bank’s strategic document are related to technology and innovation, from this point of view, an agreement to work together with Ethiopian Airlines and Ethio Telecom has been signed so far; there is also a similar agreement with the Ministry of Revenue regarding tax revenue. the bank is also working on such agreements with fintech companies

Mr. Melaku, who mentioned that the arrival of both telecom and fintech is a good opportunity for the banking industry, believes that working together will change a lot of things. He also explained that it is useful in terms of expanding the business. And that the banks’ willingness of working together if another telecom enters the market,

In addition to the benefit of this agreement listed above M-Pesa will be a digital payment method for international payments and assist the international transaction.