Commercial Bank of Ethiopia Signs MoU with Botim to Boost UAE Remittances











Addis Ababa – The Commercial Bank of Ethiopia (CBE) has entered into a strategic partnership with Botim, a leading UAE-based platform, through a newly signed Memorandum of Understanding (MoU). The deal is set to provide millions of Ethiopians living in the United Arab Emirates with an easier, faster, and more secure way to send money home.

A Historic Step for Legal Money Transfers

Speaking at the signing ceremony, CBE President Abe Sano emphasized the importance of this partnership, highlighting how platforms like Botim can offer trusted alternatives for remittances. He noted that the agreement aligns with Ethiopia’s ongoing reforms in the foreign exchange sector and supports the government’s efforts to strengthen legal money transfer channels.

What Botim Brings to the Table

Representing Botim, CEO Dr. Tariq Bin Hendy said the agreement lays the groundwork for a joint venture that will make it easier for Ethiopians in the UAE to remit funds through a secure and convenient digital channel. Originally launched as a secure voice and video calling platform, Botim has evolved into a super-app, now offering:

International and domestic money transfers

Digital cards and payments

Government services (e.g., driver’s licenses, Emirates ID renewals)

Home services, shopping, and even health monitoring

Strengthening Ethiopia–UAE Ties

Ethiopia’s Ambassador to the UAE, Dr. Omar Hussein, praised the agreement, stressing that it not only benefits the Ethiopian community abroad but also reflects the growing partnership between Ethiopia and the UAE. He added that this collaboration will further strengthen bilateral ties and create an enabling environment for financial inclusion.

Building Trust with the Diaspora

The deal follows CBE’s recent mission to the UAE (August 22–28, 2017), led by President Abe Sano. The delegation worked to build stronger links with the Ethiopian diaspora, encourage legal remittance practices, and showcase the banking services available to citizens abroad.

✅ Why this matters: With remittances playing a key role in Ethiopia’s economy, the CBE–Botim partnership could channel more foreign currency into the country while giving Ethiopians in the UAE a reliable, tech-driven solution to support their families back home.