ADDIS ABABA – More than 166.1 billion birr worth of transactions have been carried out through Telebirr digital payment platform, according to Ethio Telecom.
Ethio telecom’s six-month performance report issued on Thursday shows the growing trend in utilizing digital financial services.
The telco launched Telebirr, a mobile payment and digital wallet service, in May 2021.
It now has 27.2 million subscribers across the nation. A total of 214 institutions have integrated their payment systems with Telebirr.
The telco expects the number to grow further stating hundreds more are on the way to digitize their services.
These users, the telco says, have transacted 166.1 billion Birr in the first half of the 2022/23 Ethiopian fiscal year.
The Telebirr remittance service, which is now linked to a dozen of global money transfer companies, helped Ethiopians residing in 44 countries send money home.
The total foreign exchange transacted through Telebirr since July is valued at 719,600 US Dollars, Ethio Telecom reports.
Ethio telecom said the Telebirr services generated 82.5 million Birr in revenue in the first half of the financial year.
Apart from increasing digital transaction service coverage, the number of Telebirr service rendering partners is also increasing. To date, the Telebirt service has engaged 112 master agents, more than 98, 800 agents, and more than 25, 500 merchants.
The telecom service provider has also integrated the system with 18 banks to enable money transfers from bank to Telebirr. The transfer from Telebirr to bank has been made possible with 15 banks.
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