Tele Birr on path to become Ethiopia’s top digital wallet

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In its very first month of introduction, Ethio telecom’s mobile money, Tele birr, has garnered 3.1 million customers who have registered on to Tele birr platform. With this swift registration, it is a surefire bet that Tele Birr is well on its way to become the leading digital wallet in the country. According to the USAID 2021 report, the two biggest digital wallet services are the CBE birr which was inaugurated in 2017 and Amole in 2018, both having 3.6 million and 3.5 million subscribers respectively.
By harnessing a regulated financial flow, which in turn will increase the overall development of the country and individuals through its contribution to increased savings, encouraging entrepreneurship and investment and boosting the economy; the number is expected to reach 12 million customers within one year, according to the CEO, Frehiwot Tamiru. To upsurge its operation Telebirr will start its transaction in a few days through commercial banks including Commercial Bank of Ethiopia and bank of Abyssinia in few days.
Apart from bridging the financial inclusion gap in the country within the coming five years, Tele birr’s transaction is expected to reach 3.5 trillion birr, Ethio telecom claims. In addition, this is expected to develop into a podium that moves 40 to 50 percent of Ethiopia’s GDP within the next five years has started its
Tele birr is an innovative mobile money solution for Ethio telecom customers, the solution allows customers to store, send, receive, transfer and spend money through an electronic account using their mobile phone.
The service will also allow customers to receive money from diaspora, cash-in, save money, access loan, link bank account to Tele Birr wallet and vice versa and will feature a manage Tele Birr account. Tele birr also provide mobile payment services generally to payment services operated under financial regulation locally and internationally, pay bills for example for school fees, utility bills (water, electricity), DSTV to which transactions can be performed from or via a mobile device. Moreover, Tele Birr will allow users to cash-out, buy prepaid airtime, SMS, voice, data bundles or customer can pay a direct connect account and for other Ethio telecom subscribers, they will be able to make secure online payments. Instead of paying with cash, cheques, or credit cards, a consumer can use a mobile device to pay for a wide range of services and digital or hard goods.
Besides working on the operation of Telebirr, Ethio-Telecom, the giant telecom service provider in the country is aggressively working to protect its market share as it is working to expand its 4G LTE advanced network coverage. Ethio telecom is also planning to launch 5G service by 2022. Currently, Ethio telecom has 54.5 million customers from which 36.3 million of them are internet service users. According to the state telecom operator, the total network coverage of the country has reached 95 percent.
On similarly news, this week and within a week’s gap, Ethio telecom has launched 4G LTE Advanced service in the North East Region in six towns of Dessie, Kombolcha, Weldia, Hayik, Kemissie, Kobo & Lalibela; and in the North East-east Region in four towns of Samara, Asaita, Logia and Awash sebat Kilo. “With the high bandwidth and high-speed features of 4G/LTE services, we hope will enable and empower our customers to digitize their services, increase productivity and improve their experiences,” stated the firm’s CEO.
Beside its support to increase financial strength and service advancement of the company as Frehiwot said, 4G LTE Advanced expansion also supports digital inclusion. Data traffic growth and demand based 4G/LTE expansion in Addis and regional towns is among the major strategic initiatives set out in the three years company strategy.
So far the state telecom operator has launched 4G LTE advanced services in 44 towns in different regions over the country. Until the end of the current fiscal year Ethio telecom has planned to reach 103 towns with its 4G LTE Advanced service.