The Commercial Bank of Ethiopia (CBE) on Tuesday launched CBE Connect, a new digital platform designed to combine multiple financial services in a single application and enable direct transfers from global banks to Ethiopian fintech wallets.
The platform was developed in partnership with local fintech firm StarPay Financial Technologies, according to information shared at the launch event.
CBE Connect is intended to bridge traditional banking services with digital payment tools, targeting Ethiopians both within the country and abroad. The bank said the platform offers secure access to a range of services through one interface, with features aimed at improving the convenience and reliability of digital transactions.
Speaking at the launch, CBE Acting President Ephrem Mekuria described the initiative as a significant step in Ethiopia’s ongoing financial modernization efforts, referencing the government’s Digital Ethiopia 2030 strategy. He said the platform supports CBE’s broader global vision by connecting local users with international financial channels, simplifying remittances, and strengthening cross-border connectivity.
The bank added that the platform supports multiple currencies, including the U.S. dollar, and enables transfers with reduced costs, positioning the service as an alternative to informal remittance systems. Ethiopia’s annual remittance inflows are widely estimated at around USD 5 billion, with a substantial portion moving through non-formal channels.
StarPay CEO Besufekad Getachew said the application brings together “over seven financial services” and enables direct transfers from global banks to Ethiopian fintech wallets. Beyond remittances, he noted, the platform is designed to support utility payments from abroad, facilitate investments such as purchasing vehicles or property in Ethiopia, and provide tools for day-to-day financial management.
CBE stated that CBE Connect integrates with its own account systems as well as other domestic banks, enabling interbank transfers. The platform also supports both online and offline functionality, a feature the bank said will help extend access to users in areas with unreliable internet connectivity.
Source: Ethiopian News Agency
