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Central Bank Nods to Telebirr Credit Services

May 28 , 2022

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Regulators at the National Bank of Ethiopia (NBE) have given the go-ahead to Ethio telecom to launch a proposed micro-loan and credit scheme through its Telebirr mobile money platform. The state-owned operator has been launching a slew of products and services in recent months, ahead of pending competition from Safaricom Ethiopia Plc, which won an operators' license after bidding 850 million dollars last year. Earlier this month, Ethio telecom began piloting pre-commercial 5G network services. It also recently launched an online retail platform. Telebirr has facilitated transactions valued at close to 10 billion since it was launched last May. Safaricom Ethiopia was expected to begin commercial operations last month, but has yet to do so.

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