Ethio-telecom upgraded its Telebirr application expanding its services with the new digital-financing application. The new service features micro-credit, credit pay, and micro-saving services were revealed at the launching ceremony held at the Science Museum last week. Firehiwot Tamiru, the Chief Executive Officer, said the application will bridge financial inclusion gaps enabling customers to have easy access to services. The state-owned telecom bagged 33.8 billion Br in revenues, showing a 20pc increase compared to the previous year. The net profit has reached 8.18 billion Br in the last six months. It has 31.3 million internet users from 70 million customers, showing a growth rate of 15.1pc from last year. Telebirr has paved the way for more than 200 private and public service providers to digitise their payment systems, with subscribers increased to 30 million from its inception in May 2021, a 38.8pc share of Ethiotelecom customers. The financial service app is currently integrated with 19 commercial banks, transacting more than 165 billion Br in the last six months, through which more than 82.5 million Br was earned.

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