Ethio Telecom’s Cashless Journey Handles Birr 3.3 Trillion in Transactions

Ethio Telecom’s digital finance platform, Telebirr, is making waves in Ethiopia’s financial sector, driving change in how millions of Ethiopians access money, services, and economic opportunities. In just three years, Telebirr has processed Birr 3.3 trillion in transactions.

Frehiwot Tamiru, the CEO of Ethio Telecom, took the stage recently in Parliament to discuss the company’s growth and achievements, digital revolution, and she shared the story of Telebirr’s rapid success. “Telebirr is more than just a payment tool; it’s a powerful platform for financial inclusion,” Frehiwot said, pointing out that the platform has integrated with 28 banks and now serves 261,000 agents and 240,000 merchants across Ethiopia.

One of Telebirr’s most remarkable achievements has been its ability to provide financial services to millions of Ethiopians. “In just a short time, we’ve facilitated loans totaling Birr 17 billion for 7 million individuals,” Frehiwot explained. “This shows how digital finance can empower people and give them access to the resources they need.”

The impact goes beyond loans; approximately 2.7 million customers have saved a total of Birr 17 billion through the platform. This not only reflects a shift toward more efficient money management, but also highlights the growing confidence Ethiopians are placing in digital financial services.

However, Frehiwot’s presentation at Parliament also shed light on some of the challenges Ethio Telecom is facing, especially when it comes to affordability. Lawmakers raised concerns over the high cost of mobile data, with Desalegn Chane (PhD), a Member of Parliament, expressing his frustration about what he described as “unreasonable” prices. He shared his personal experience: “I use 4G, and I have Wi-Fi at home. But when I’m outside, a Birr 100 card doesn’t even last me a day.” His remarks highlighted the financial strain many Ethiopians are feeling when it comes to basic telecom services.

Another lawmaker noted that while price adjustments were a reality in every sector, the rapid increase in telecom prices was raising concerns among the public. “Almost every product’s prices are adjusted immediately. Capital investment is needed, but this has led to a lot of unease within society. We need to support the people,” the MP said.

In response, Frehiwot explained that the price hikes were a direct result of the macroeconomic reforms Ethiopia is undergoing. “We’ve been expanding our infrastructure and importing goods from abroad. With the devaluation of Birr, maintaining profitability has become essential to keep the business running smoothly,” she said, emphasizing the financial challenges facing the telecom industry.

Despite these challenges, Frehiwot remains optimistic about Ethio Telecom’s role in Ethiopia’s digital future. She highlighted the company’s achievements, such as its growing network of 1,033 service providers across the country, including 514 franchise partnerships and 546 enterprises and kiosks. These partnerships are key in ensuring that Ethio Telecom’s services reach people in both urban and rural areas.

Ethio Telecom’s customer base continues to soar, reaching 80 million customers, with 78 million voice users, 43 million internet users, and 776,000 fixed broadband users. These numbers speak to the company’s commitment to making digital services accessible to more Ethiopians, helping to bridge the digital divide and bring the benefits of the internet to communities across the country.