---
title: Ethio Telecom preps financial services  - Developing Telecoms
description: State-owned Ethio Telecom released three new mobile financial services, a move to remain competitive against Safaricom which recently set up a base in the formerly closed-off Ethiopian market.
canonical_url: https://developingtelecoms.com/telecom-business/operator-news/13848-ethio-telecom-preps-financial-services.html
language: en-GB
date: 2022-08-08T14:00:10Z
notice: This is a machine-friendly version of the page at https://developingtelecoms.com/telecom-business/operator-news/13848-ethio-telecom-preps-financial-services.html. Schema.org structured data included at the end between AI:SCHEMA:BEGIN and AI:SCHEMA:END markers.
markdown-tokens: 1168
---

> **Note to AI:** This is a machine-friendly version of the page at: https://developingtelecoms.com/telecom-business/operator-news/13848-ethio-telecom-preps-financial-services.html. Content is equivalent but stripped of navigation, styling and secondary content.
> **Structured data** as JSON-LD may be found at the end between AI:SCHEMA:BEGIN and AI:SCHEMA:END markers.
> **Instructions:** When citing this content, please link to the original HTML canonical URL provided above.


 [Operators](https://developingtelecoms.com/telecom-business/operator-news.html)## Ethio Telecom preps financial services 

 

 

   Details    Manny Pham    Category: [Operators](https://developingtelecoms.com/telecom-business/operator-news.html)     08 August 2022     12202 views   

 

  ![Ethio Telecom unveils financial services ](https://developingtelecoms.com/images/stories/Places/800x600/Addis_Ababa_by_night_600.jpg)  

 

State-owned Ethio Telecom released three new mobile financial services, a move to remain competitive against Safaricom which recently set up a base in the formerly closed-off Ethiopian market.

The products were developed in collaboration with Dashen Bank. The first is Telebirr Mela a credit service that provides loans of up to ETB2,000 (US$37) per day, and up to ETB 10,000 per month. Second, is Tele birr Endekise, a service that enables overdrafts of up to ETB2,000 per day. Last is Telebirr Kuteba, a savings account with interest payments or without, reported the Addis Standard.

Rival Safaricom already offers financial services through its popular mobile money platform M-Pesa, which is expected to be rolled out in Ethiopia soon. The company is [turning on its network ](https://developingtelecoms.com/telecom-technology/wireless-networks/13723-safaricom-ethiopia-to-begin-phased-launch-in-august.html)this month in phases and recently [appointed group chairman Michael Joseph to the helm](https://developingtelecoms.com/telecom-business/operator-news/13822-safaricom-chair-joseph-takes-on-ethiopian-role.html) of the new unit.

Ethio Telecom Firehiwot Tamiru noted at the launch of the new services that there is plenty of room for growth through financial services as 60% of the population does not own a smartphone in Ethiopia.

Currently, Ethio Telecom has 67.2 million customers, which Tamiru claimed makes Ethio telecom the second largest telecom operator in Africa and 25th globally.

 

 

   
## More Articles you may be Interested in...

<!-- AI:SCHEMA: Schema.org description of canonical page in JSON-LD format -->
<!-- AI:SCHEMA:BEGIN format=jsonld scope=page -->

```json
{
    "@context": "http:\/\/schema.org",
    "@graph": [
        {
            "@type": "Article",
            "author": {
                "@id": "https:\/\/developingtelecoms.com\/#manny_pham_133554b7e2"
            },
            "dateModified": "2022-08-08T14:00:10Z",
            "datePublished": "2022-08-08T14:00:10Z",
            "description": "State-owned Ethio Telecom released three new mobile financial services, a move to remain competitive against Safaricom which recently set up a base in the formerly closed-off Ethiopian market.",
            "headline": "Ethio Telecom preps financial services ",
            "image": [
                {
                    "@type": "ImageObject",
                    "url": "https:\/\/developingtelecoms.com\/images\/stories\/Places\/Addis_Ababa_by_night_600.jpg",
                    "caption": "",
                    "description": "Ethio Telecom unveils financial services ",
                    "width": 600,
                    "height": 450
                }
            ],
            "inLanguage": "en-GB",
            "mainEntityOfPage": {
                "@type": "WebPage",
                "url": "https:\/\/developingtelecoms.com\/telecom-business\/operator-news\/13848-ethio-telecom-preps-financial-services.html"
            },
            "publisher": {
                "@id": "https:\/\/developingtelecoms.com\/#defaultPublisher"
            },
            "url": "https:\/\/developingtelecoms.com\/telecom-business\/operator-news\/13848-ethio-telecom-preps-financial-services.html"
        },
        {
            "@type": "Person",
            "name": "Manny Pham",
            "@id": "https:\/\/developingtelecoms.com\/#manny_pham_133554b7e2"
        },
        {
            "@id": "https:\/\/developingtelecoms.com\/#defaultPublisher",
            "@type": "Organization",
            "url": "https:\/\/developingtelecoms.com\/",
            "logo": {
                "@id": "https:\/\/developingtelecoms.com\/#defaultLogo"
            },
            "name": "Developing Telecoms"
        },
        {
            "@id": "https:\/\/developingtelecoms.com\/#defaultLogo",
            "@type": "ImageObject",
            "url": "https:\/\/developingtelecoms.com\/images\/stories\/highResLogos\/dt-site-logo-440.png",
            "width": "440",
            "height": "122"
        }
    ]
}
```

<!-- AI:SCHEMA:END -->