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BusinessTelebirr’s transaction surpasses a billion birr

Telebirr’s transaction surpasses a billion birr

The amount of money transacted through Telebirr, ethio telecom’s mobile money transaction platform, surpassed one billion birr on September 23, 2021. The mobile money transaction app has only been operation for five months.

Even though the company disclosed at an LTE advanced mobile internet service launch in Nekemte town on September 18, 2021 that the transaction was approaching one billion birr, reports The Reporter accessed indicate that the transaction reached 1.14 billion birr on September 23/2021.

The company indicated during the Nekemte launching event that the transactions made through telebirr reached 938 million birr.

The transaction from September 18 – 23, 2021 showed that 62.14 million birr was transacted via the mobile money service.

Following its strategic plan to expand the 4G LTE network expansion, the telecom operator launched a mobile internet service in the Central North region on September 23, 2021.

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The service allows customers of the company in areas such as Debre Birhan, Fiche, Shewa-Robit, Sululuta, Sheno, Sendafa, Gerba-Guracha, and Legetafo join the latest technology and digitalize their services.

During the launching ceremony, which was held at Debre Birhan’s Getva Hotel, CEO of ethio telecom, Frehiwot Tamiru highlighted that telebirr has attracted nearly 10 million customers since its launch five months ago. 

According to Frehiwot, eight commercial banks are collaborating with ethio telecom to provide the mobile money service and discussions are underway with other commercial banks to expand the scheme further.

The number of agents that provide the mobile money service has increased from 15,000 to 26,000. And so far, more than 4000 businesses have linked their paying system with telebirr, Frehiwot highlighted.

It was also indicated that in addition to providing money sending and receiving services, purchase of airtime, and the like, the company is also planning to engage in the provision of small loans. To this end, it has submitted an application to acquire a license from the National Bank of Ethiopia (NBE).  

It is to be recalled that Safaricom Telecommunications Ethiopia recently announced holding discussions with the NBE and the Ministry of Finance (MoF) on ways of starting mobile financial services.

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