Browsing: Telebirr

Ethio-telecom launches mobile money service

Ethio- telecom launched a  service called ‘Telebirr’ as it seeks to boost growth by offering cashless transactions in Ethiopia.

Telebirr will allow ethio-telecom’s customers to send, store and receive money using their phones. The mobile money service aims to extend mobile services to areas that have been financially excluded.

With just 19 commercial banks which serve a population of 115 million, Telebirr will bridge the financial gap to those who do not have access to banks in Ethiopia.

The CEO of Ethio telecom, Frehiwot Tamiru said that within its first year of operations, the telecom plans to recruit 21 million users and 33 million in five years. She added that by the end of the five years, Ethiopia’s annual economic output of about 40 to 50 percent will be transacted on the platform.

The telecom has 1600 agents onboard already and will increase to more than 15,000 within 12 …