The Commercial Bank of Ethiopia (CBE) and Botim, a prominent digital platform in the United Arab Emirates (UAE), have inked a historic partnership agreement to enhance remittance flows and grow safe financial services for Ethiopians living overseas.
CBE President Abe Sano said the agreement aligns with the Ethiopian government’s ongoing reforms to liberalise the foreign exchange system.
He emphasised the importance of providing safe and regulated channels, such as Botim, to encourage Ethiopians living abroad to use official financial systems for money transfers.
CEO Tariq Bin Hendi spoke on behalf of Botim and characterised the collaboration as a basis for sustained collaboration. He said that Ethiopians residing in the United Arab Emirates can now send money home using a reliable, secure, and easy digital platform.
Agreement to deepen socio-economic ties between Ethiopia and the UAE
The agreement was also welcomed by Dr. Oumer Hussein Oba, Ethiopia’s ambassador to the United Arab Emirates, who emphasised that it will not only make remittance services easier for Ethiopian citizens but also link to further deepen the socioeconomic ties between the two countries.
Botim began as a safe voice and video calling app and has since developed into a full-fledged fintech and lifestyle ecosystem. The platform now facilitates digital payments, virtual cards, domestic and international money transfers, government services, and a variety of home and medical solutions.
The deal comes after CBE President Abe Sano’s official visit to the UAE from August 28 to September 3, 2025, which aimed to strengthen ties with the Ethiopian diaspora and encourage legitimate remittance channels.
CBE’s agreement with the Ethiopian community in Abu Dhabi
Techpression reported on September 3 that the Commercial Bank of Ethiopia (CBE) and a diaspora community overseas reached the first-ever direct agreement when the Bank signed a historic memorandum of understanding with the Ethiopian Community in Abu Dhabi.
The agreement was signed on Monday by Mr. Abdulnaser Haro, the chairman of the Community Board, and Mr. Abe Sano, the president of CBE.
The partnership seeks to improve financial cooperation with the Ethiopian diaspora by fostering a culture of saving, increasing access to business and investment financing, and promoting official money transfer channels. Another aspect of the agreement is planned training and integration of informal money collectors into the legitimate financial system.
During the signing ceremony, CBE President Abe Sano stated that the agreement is significant in mobilising diaspora resources for national development.