Ethio telecom, Dashen Bank Launch Digital Finance Services

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Addis Ababa August 6/2022/ENA/ Ethio telecom and Dashen Bank launched digital financial services of overdraft, credit, and saving through telebirr yesterday.

On the occasion, Ethio telecom CEO, Frehiwot Tamiru, said that the digital finance will help the society become cash light.

She noted that financial inclusion is a key to the overall growth of the nation.

According to her, the digital finance service plans to accomplish 19.5 billion birr digital transaction in on year of which 6.4 billion birr, 9.8 billion birr and 3.3 billion birr will be from overdraft, credit, and saving respectively.

Furthermore, Ethio telecom targets to serve more than 12.8 million unique customers within the first year of operation with total transaction volume of 108 million and transaction value of 19.5 billion birr.

Telebirr endekise (overdraft service) allows customers use credit service, telebirr mela (micro credit), lends small sum of e-money to merchants to expand small business, and telebirr sanduq (saving) allows customers to save e-money, it was indicated.

The digital finance service is easy, fast, convenient and secure, CEO Frehiwot underscored.

Since May 2021, Ethio telecom has accomplished digital transaction of 34.1 billion birr, 1.02 million USD remittances from 37 countries, it was learned.

Dashen Bank President, Asfaw Alemu on his part emphasized the need for digital financial services in order to render fast and reliable services for customers.

He added that micro businesses will benefit by getting credit and expand business.

National Bank Governor, Yinager Desie said that the digital finance services introduced by Ethio telecom have boosted the number of its customers and the national digital transaction value.

With the efforts it is undertaking, there is no doubt that Ethio telecom will soon become the continent’s largest telecom operator, the Governor noted.

Ethio telecom is the second largest telecom operator in Africa and 25th from 778 global telecom operators.