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Ethiopia: Hijra Bank and Rays Micro Finance Enter Agreement on Sahaypay

Hijra BankHijra Bank agrees with Rays Micro Finance to utilize Sahaypay mobile money, the fastest growing mobile money system in Ethiopia. The customers of the two financial institutions will be able to transfer finance once the agreement starts being implemented. Rays Micro Finance implements Real Time Gross Settlement System (RTGS) to transfer money across banks.

Rays Microfinance Institution S.C. was established on in 2014. It finances goods, machineries, equipment, livestock trade, agriculture, construction, and small industries. Hijra Bank currently has 250,000 customers.

Source: The Ethiopian Herald