Tsehay Bank S.C. has inked an agreement with Rays Micro Finance S.C. to collaborate in different financial provisions.
The agreement was signed by Chief Executive Officer of Tsehay Bank S.C. Yared Mesfin and Chief Executive Officer of Rays Micro Finance S.C. Abdiaziz Hassen in Addis Ababa.
Having its registered office in Addis Ababa, Rays Micro Finance S.C. is a company licensed by the National Bank of Ethiopia to provide financial services including Mobile and Agent Banking Services.
The agreement, signed on 28 February 2023 at the Head Office of Tsehay Bank in Addis Ababa, is believed to help expand Tsehay Bank’s services particularly Interest Free Banking in the Eastern part of Ethiopia where Rays Microfinance has a large customer base.
It will also help Tsehay Bank provide digital and regular financial products and services through Rays’ branches, agents and its mobile money platform called SahayPay, a fully-fledged mobile and agent banking service allowing access for payment and receipt of money.
As per the agreement, Tsahay Bank’s customers will be able to do transaction like CBS to CBS, Wallet to Wallet, CBS to Wallet, Card less ATM withdrawals, POS payments, Bill payments, and International Remittance.