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United Bank partners with WorldRemit for instant money transfers to Ethiopia

The Ethiopian diaspora in 50 countries can now send money securely to hundreds of new cash pickup locations across the country

Addis Ababa and London, 19 July 2018: Leading digital money transfer service WorldRemit has partnered with United Bank to allow customers to send instant money transfers to 214 cash pickup locations across Ethiopia - from Dilla to Shire and from to Semera to Assosa.

To find out your nearest cash pickup location in Ethiopia, click here.

The new partnership allows Ethiopians living in over 50 countries - including the United States, the United Kingdom, Australia and Canada - to send money home instantly, using WorldRemit’s mobile app and website. The deal supports WorldRemit’s plan to serve 10 million customers connected to emerging markets by 2020.

Remittances play an important role in Ethiopia’s economy. However, the majority of its remittance flows are still going through informal, unregulated channels. Some estimates suggest that Ethiopia may have received over $3 billion in remittances in 2015, accounting for over 7% of its GDP.

Andrew Stewart, Regional Director of Africa and the Middle East at WorldRemit, comments: “We are delighted to be partnering with United Bank, one of the leading banks in the country. Our partnership will give the two million-strong Ethiopian diaspora more choice and additional pickup locations across Ethiopia to make sending money back home as easy as sending an instant message.

“The partnership with United Bank will further support Ethiopia’s transition from offline remittances to online, safer, faster and lower-cost money transfer methods.”