Ethiopia: Telebirr Surpasses 4.1 T Birr in Transactions

· Powers new digital finance push with Siinqee Bank

– Ethio telecom’s mobile money platform, Telebirr, has crossed a major milestone by facilitating over 4.1 trillion Birr in transactions since its launch in May 2021, signaling a significant leap toward Ethiopia’s digital economy ambitions.

Speaking during the launching of Wabii Digital Finance, a new platform developed in collaboration with Siinqee Bank, Ethio telecom CEO Firehiwot Tamiru underlined Telebirr’s pivotal role in broadening financial access and fostering digital inclusion.

Since its inception, Telebirr has attracted over 52.56 million customers, with daily transactions now exceeding 7.6 billion Birr. The platform has also mobilized 14.79 million USD through international remittance services, with around 38% of users actively transacting through digital applications.

Firehiwot noted that the consistent growth of Telebirr is not just a business achievement but a crucial step toward building a fully digitalized Ethiopia. She praised the platform’s contribution to enhancing financial accessibility across urban and rural areas alike.

Siinqee Bank President Neway Megersa, for his part, stated that the collaboration with Ethio telecom represents a strategic investment in digital finance. Through the partnership, the two institutions have allocated significant resources to expand microfinance services, increase access to digital devices, and support microcredit activities, aiming to reach largely underserved rural populations.

Neway emphasized that platforms like Wabii will drive greater operational efficiency by reducing the high costs associated with manual financial processes. He added that over the past three years, Siinqee Bank has seen dramatic growth, with average deposits increasing by 975%, total assets nearing 100 billion Birr, and its loan portfolio expanding to 44 billion Birr.

The Ethio telecom and Siinqee Bank partnership marks a major step toward deepening digital financial inclusion, empowering small businesses and entrepreneurs, and advancing Ethiopia’s wider digital transformation goals.