UAE’s Botim partners with Ethiopia’s largest bank to serve 200,000 UAE residents

Dubai: UAE fintech platform Botim has partnered with Ethiopia’s largest bank to offer money transfer services to over 200,000 Ethiopians living in the UAE.

The deal with Commercial Bank of Ethiopia (CBE) allows Botim's 8.5 million UAE users to send money directly to Ethiopian bank accounts, mobile wallets, or for cash collection at nearly 2,000 CBE branches across Ethiopia.

The partnership comes as Ethiopia received $5.1 billion in remittances during the first nine months of its current fiscal year, highlighting the crucial role these transfers play in the country'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, CEO of Botim.

The timing is significant as Ethiopia's foreign reserves have more than doubled to $3.4 billion in early 2025, supported partly by strong remittance inflows. The country is undergoing what officials describe as a broader macroeconomic turnaround.

Abi Sano Mehammed, president of Commercial Bank of Ethiopia, said the partnership would make financial services more accessible whilst “enforcing the economic and cultural connection between Ethiopia and the UAE”.

The collaboration marks Botim's first direct banking partnership in Ethiopia and represents a major expansion of the Dubai-based platform’s cross-border services. Astra Tech owns Botim and has established itself as a leading fintech platform in the Middle East and North Africa region.

Ethiopian Ambassador to the UAE, Oumer Hussien Oba, attended the signing ceremony and described the partnership as reflecting "the strong ties between Ethiopia and the UAE". “By supporting secure financial connectivity, it expands access to essential services, facilitates remittances, supports families, and contributes to Ethiopia's broader economic development," the ambassador said.

The deal allows users to transfer funds in Ethiopian birr through various channels including direct account credits and mobile wallet top-ups. Ahmed Mourad, Botim's chief operating officer, called it "an important milestone" in expanding the platform’s financial ecosystem.