Ethiopia: Ethio-Telecom New Telebirr Service to Spur Nat'l Reform

ADDIS ABABA - The launching of-telebirr--a reliable, inclusive, easy transaction financial service, would help create a cashless society and transform the overall economy as it fosters national reform, so disclosed Company's CEO. Speaking at the telebirr inaugural ceremony on Tuesday , Ethio-telecom CEO, Firehiwot Tamru stated that the service is a new financial dimension which enables fast transaction in the remote areas of the country.

Firehiwot said the service allows users to send and receive money, deposit cash, pay bill, withdraw cash, fundraising, bulk disbursement using telebirr app, USSD and SMS. She further explained that the service would enhance financial inclusiveness to the remote areas where other financial services could hardly be accessed. It also eases remittance services.

The service helps cut unnecessary expense the nation incurs to issue a paper money and enhances a healthy, fast, cheap and easy cash flow, as to her. As to the CEO, researches show that mobile banking specifically telebirr has a huge economic significance in Ethiopia by increasing the financial inclusion by 25 to 30 percent. The Telecom is working to transform the economic transaction to up to 40 to 50 percent in the next five years.

Prime Minister Abiy Ahmed (Ph.D) stressed that the combined effort of banks and Ethio-Telecom has significant contribution to transforming the economy of the country through enhancing the financial sector. The Premier underscored that banks and tech companies have a considerable contribution via leading the economic transformation using cashless transaction.

He noted that Ethiopia will join the global digital market after realizing a resilient national market, and the service would be open for global stakeholders in the future. Ride CEO Samrawit Fikru told The Ethiopian Herald that a well authenticated and reliable tech service would help facilitate their services.

Samrawit also applauded the EthioTelecom's effort to transform the financial and other related service sectors. Technologically advanced banks and secured financial services have massive contribution to the effort geared towards transforming the economy of a given country, it was learnt.

BY GETAHUN LEGESSE

More From: Ethiopian Herald

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