Commercial Bank of Ethiopia(CBE) and Golden Coffee Roastery have launched Cash Go money transfer app, enabling the Ethiopian diaspora to use easy and efficient money transfer.

President of Commercial Bank of Ethiopia, Abie Sano and CEO & Owner of Golden Coffee Roastery, Teodros Sheferaw signed the agreement on Friday.

The agreement allows Ethiopian diaspora who live, among others, in Canada, Israel, the USA, South Africa and the United Arab Emirates to use Cash go application that enables direct bank account settlement to the bank accounts of their relatives and friends in Ethiopia without the need to pass through swift.

Abie Sano briefed journalists that the app will significantly make money transfer by the Ethiopian diaspora easy and efficient.

By using their Visa and Mastercard, the diaspora community can easily send money to Ethiopia directly to their friends and relatives bank accounts, he added.

Abie further said that as the mobile app allows the diaspora to transfer from 5 to 1,000 USD in a single transfer.

The Cash Go app is proven to be simple, secure and efficient, Abie said, adding customers in Ethiopia can receive the money sent through the app immediately at any of CBE's 1850 branches.

CBE is providing convenient and efficient services to its customers using digital applications, he said, noting that the bank has transacted over 2.1 trillion Birr over the last nine months of the current fiscal year.

Speaking on his part, Golden Coffee Roastery ,CEO & Owner, Teodros Sheferaw, said the mobile application is locally developed by Ethiopians.

He further stated that the app is capable of serving customers in many local languages.

Such digital foreign exchange transfer helps to alleviate the bank's foreign exchange shortages, he noted.

Source: Ethiopian News Agency