04 November 2024

Ethio Telecom is targeting 8.6 million new subscribers for its mobile money service Telebirr in the current 2024/2025 financial year, which will bring its total user base to 55 million.

The operator plans to increase the number of Telebirr agents by 28%, to reach 275,000, and to double the number of merchant partners, to total 367,000. In addition, it aims to improve digital financial services, digital local money transfers, online payments, as well as international online transactions, while increasing the number of remittance partners.

These initiatives will enable Ethio Telecom to consolidate its position in the mobile financial services segment of the Ethiopian telecom market, in the face of emerging competition. M-Pesa, Safaricom Ethiopia’s platform, already had 4.5 million registered subscribers as of 31 March 2024, seven months after the launch of its commercial operations.