The National Bank has granted Ethio Telecom’s telebirr permission to begin offering microloans and savings services as part of promoting digital financial inclusion.
As part of its digital financial service development, Ethio telecom has been pursuing a license from the National Bank to begin issuing loans and saving services through telebirr, and that request appears to have been granted.
The Governor of the National Bank, Yinager Dessie (PhD), stated that providing these services through Telebirr would benefit a large number of Ethiopians financially. According to Capital, the National Bank made the decision as part of ongoing efforts to improve Ethiopia’s digital economy.
Telebirr, a digital payment system that provides financial services to over 18 million customers, has a transaction value of around Birr 10 billion. Users can use digital cash to send and receive money locally, as well as make purchases online and at convenience stores.
Source: Capital Newspaper
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