Telecom Expands Digital Services


Telecom Expands Digital Services

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.


Radar

ZamZam Bank Joins Commodity Exchange Payment System

The pioneering full-fledged interest-free commercial bank, ZamZam Bank, has become the 24th financial institution to join the Ethiopian Commodity Exchange's (ECX) payment system. CEO of the Exchange Wendemagegnehu Negera signed the deal with the President of the Bank Melika Bedri last week. According to the CEO, joining the platform which has around 11,000 accounts registered and has transacted over 386 billion Br so far, will allow a reliable mechanism whereby traders can be certain that pay...


Radar

AfDB, ADF to Chart Transformation Path at Diamond Jubilee

The African Development Bank (AfDB) and the African Development Fund (ADF) are gearing up for a major joint meeting in Nairobi, Kenya, expected to draw around 4,000 participants. The event, taking place at the Kenyatta International Conference Centre in late May, will focus on "Africa's Transformation," a theme reflecting the continent's ongoing pursuit of economic and social development. "Despite progress over the years, Africa's transformation remains incomplete," said Vincent O. Nmehielle...


Radar

Big Art Sale Returns to Addis

The annual Big Art Sale returns to Addis Abeba this weekend. Over 100 artists are expected to showcase their original works and prints at the Hilton Addis. What's Out Addis in partnership with the Hilton Hotel is behind the event that showcases the works of over 100 artists. Big Art Sale has been around for the past 18 years showcasing paints and prints. According to organisers, it offers a chance to meet the artists and enjoy a variety of art forms with a dedicated Kids' Corner and food and...


Back
WhatsApp
Telegram
Email